Rockefeller Capital Management L.P. Has $11.98 Million Stake in McCormick & Company, Incorporated $MKC

Rockefeller Capital Management L.P. lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,942 shares of the company’s stock after buying an additional 6,561 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in McCormick & Company, Incorporated were worth $11,975,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $64.54, for a total value of $2,517,963.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brendan M. Foley sold 57,144 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the completion of the transaction, the chief executive officer directly owned 108,652 shares in the company, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 146,158 shares of company stock valued at $9,557,324. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Up 2.6%

NYSE MKC opened at $66.83 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. 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 moving average price of $66.10 and a 200-day moving average price of $70.23. The company has a market cap of $17.93 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 3.74 and a beta of 0.61.

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

McCormick & Company, Incorporated Increases Dividend

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

Analyst Upgrades and Downgrades

MKC has been the subject of a number of research analyst reports. Barclays lowered their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Jefferies Financial Group dropped their target price on shares of 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. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus target price of $78.22.

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.