Intech Investment Management LLC Sells 89,114 Shares of McCormick & Company, Incorporated $MKC

Intech Investment Management LLC reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 45.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,121 shares of the company’s stock after selling 89,114 shares during the quarter. Intech Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $8,274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of Jackson Hole Trust acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $25,000. Capital Analysts LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $28,000. Curio Wealth LLC increased its position in shares of McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after acquiring an additional 399 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised 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 acquiring an additional 264 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction 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 transaction, the insider owned 246,762 shares in the company, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the sale, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at $7,123,225.12. This represents a 34.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 146,158 shares of company stock worth $9,557,324. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $65.34 on Monday. The company has a market capitalization of $17.54 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 3.74 and a beta of 0.61. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 12 month low of $63.15 and a 12 month high of $86.24. The stock’s 50 day moving average is $66.33 and its 200-day moving average is $70.41.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $1.72 billion during 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 revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MKC shares. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. JPMorgan Chase & Co. decreased their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Finally, UBS Group dropped their price objective on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” 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 given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $78.22.

About McCormick & Company, Incorporated

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.