Mcdaniel Terry & Co. Reduces Stake in McCormick & Company, Incorporated $MKC

Mcdaniel Terry & Co. decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,953 shares of the company’s stock after selling 1,275 shares during the quarter. McCormick & Company, Incorporated makes up approximately 1.6% of Mcdaniel Terry & Co.’s portfolio, making the stock its 23rd biggest position. Mcdaniel Terry & Co.’s holdings in McCormick & Company, Incorporated were worth $18,951,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MKC. Alyeska Investment Group L.P. lifted its position in shares of McCormick & Company, Incorporated by 1,360.5% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock worth $129,647,000 after buying an additional 1,467,254 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in McCormick & Company, Incorporated by 28.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock worth $340,406,000 after acquiring an additional 920,618 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its position in McCormick & Company, Incorporated by 94.7% in the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after acquiring an additional 865,500 shares during the last quarter. Nuveen LLC acquired a new position in McCormick & Company, Incorporated in the first quarter valued at $55,643,000. Finally, Westfield Capital Management Co. LP purchased a new position in shares of McCormick & Company, Incorporated during the first quarter worth about $47,056,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the sale, the insider owned 246,762 shares in the company, valued at $16,251,745.32. This represents a 16.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 23.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MKC. UBS Group reduced their target price on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Stifel Nicolaus cut their target price on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group dropped their price objective on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus price target of $78.22.

McCormick & Company, Incorporated Stock Down 0.8%

MKC opened at $66.86 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The stock has a market capitalization of $17.94 billion, a P/E ratio of 23.13, a P/E/G ratio of 3.94 and a beta of 0.63. The business has a 50 day simple moving average of $67.91 and a 200-day simple moving average of $71.59.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company earned $0.83 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.28%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.