Aviva PLC Raises Position in McCormick & Company, Incorporated $MKC

Aviva PLC raised its position in McCormick & Company, Incorporated (NYSE:MKC) by 6.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 240,290 shares of the company’s stock after acquiring an additional 15,273 shares during the quarter. Aviva PLC’s holdings in McCormick & Company, Incorporated were worth $18,219,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Bank of Jackson Hole Trust purchased a new position in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $25,000. Capital Analysts LLC acquired a new position in McCormick & Company, Incorporated in the 1st quarter valued at $26,000. Zions Bancorporation National Association UT purchased a new position in McCormick & Company, Incorporated in the 1st quarter valued at $28,000. Curio Wealth LLC boosted its stake in McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after purchasing an additional 399 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of McCormick & Company, Incorporated by 132.0% during the second quarter. GHP Investment Advisors Inc. now owns 464 shares of the company’s stock worth $35,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.2%

Shares of NYSE MKC opened at $64.25 on Tuesday. The company has a market capitalization of $17.24 billion, a P/E ratio of 22.23, a P/E/G ratio of 3.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. The company has a 50 day simple moving average of $66.67 and a 200-day simple moving average of $70.68. McCormick & Company, Incorporated has a 1 year low of $63.15 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.8%. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.28%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MKC shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Stifel Nicolaus decreased 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 research note on Wednesday, October 8th. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. UBS Group cut their price target 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. Finally, Jefferies Financial Group reduced their price objective on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to 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 firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 23.80% of the company’s stock.

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.