Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Sells 3,911 Shares of McCormick & Company, Incorporated $MKC

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 26.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 10,796 shares of the company’s stock after selling 3,911 shares during the quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in McCormick & Company, Incorporated were worth $819,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MKC. Alyeska Investment Group L.P. boosted its position in 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 acquiring an additional 1,467,254 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position 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 during the last quarter. Alecta Tjanstepension Omsesidigt boosted its position in McCormick & Company, Incorporated by 94.7% during the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock worth $134,795,000 after acquiring an additional 865,500 shares during the last quarter. Nuveen LLC acquired a new position in McCormick & Company, Incorporated during the 1st quarter worth approximately $55,643,000. Finally, Westfield Capital Management Co. LP acquired a new position in McCormick & Company, Incorporated during the 1st quarter worth approximately $47,056,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.8%

Shares of McCormick & Company, Incorporated stock opened at $66.86 on Monday. McCormick & Company, Incorporated has a 12-month low of $63.66 and a 12-month high of $86.24. The stock has a market cap of $17.94 billion, a P/E ratio of 23.13, a P/E/G ratio of 3.91 and a beta of 0.63. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $67.91 and its 200-day moving average is $71.56.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Sanford C. Bernstein reduced their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Jefferies Financial Group reduced their price target on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. UBS Group reduced their price target on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Finally, Barclays dropped their price objective on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $78.22.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’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 transaction of $3,293,000.00. Following the transaction, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. The trade was a 16.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated 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.