Universal Beteiligungs und Servicegesellschaft mbH Acquires 23,459 Shares of McCormick & Company, Incorporated $MKC

Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 10.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 258,545 shares of the company’s stock after buying an additional 23,459 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in McCormick & Company, Incorporated were worth $19,603,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. MTM Investment Management LLC bought a new position in McCormick & Company, Incorporated during the second quarter worth $30,000. Rockefeller Capital Management L.P. lifted its stake in shares of McCormick & Company, Incorporated by 4.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 157,942 shares of the company’s stock worth $11,975,000 after buying an additional 6,561 shares during the last quarter. Alberta Investment Management Corp lifted its stake in shares of McCormick & Company, Incorporated by 12.9% during the 2nd quarter. Alberta Investment Management Corp now owns 28,800 shares of the company’s stock worth $2,184,000 after buying an additional 3,300 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of McCormick & Company, Incorporated by 11.0% during the 2nd quarter. Cetera Investment Advisers now owns 36,904 shares of the company’s stock worth $2,798,000 after buying an additional 3,661 shares during the period. Finally, Creative Planning grew its position in shares of McCormick & Company, Incorporated by 25.3% in the second quarter. Creative Planning now owns 91,841 shares of the company’s stock valued at $6,963,000 after purchasing an additional 18,569 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MKC. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Barclays dropped their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. UBS Group cut their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report 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 report on Wednesday, October 8th. Finally, Sanford C. Bernstein dropped their price target on shares of 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. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $78.22.

McCormick & Company, Incorporated Stock Up 0.9%

MKC stock opened at $65.12 on Wednesday. McCormick & Company, Incorporated has a 52 week low of $63.15 and a 52 week high of $86.24. The business has a 50-day simple moving average of $66.13 and a 200 day simple moving average of $70.25. 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 company has a market cap of $17.48 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61.

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

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, December 29th. McCormick & Company, Incorporated’s payout ratio is 62.28%.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 108,652 shares in the company, valued at $7,123,225.12. This represents a 34.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total value of $3,293,000.00. Following the completion of the sale, the insider directly owned 246,762 shares in the company, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 146,158 shares of company stock valued at $9,557,324. Company 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.