Vanguard Group Inc. Purchases 553,862 Shares of McCormick & Company, Incorporated $MKC

Vanguard Group Inc. raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,427,901 shares of the company’s stock after buying an additional 553,862 shares during the quarter. Vanguard Group Inc. owned about 12.08% of McCormick & Company, Incorporated worth $2,458,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MKC. Bank of Jackson Hole Trust acquired a new position in shares of McCormick & Company, Incorporated during the second quarter worth $25,000. Capital Analysts LLC acquired a new stake in McCormick & Company, Incorporated in the first quarter worth about $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter worth about $28,000. Curio Wealth LLC increased its holdings 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 valued at $30,000 after acquiring an additional 399 shares in the last quarter. Finally, MTM Investment Management LLC purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total transaction of $2,517,963.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brendan M. Foley sold 57,144 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the transaction, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at $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 quarter, insiders sold 146,158 shares of company stock worth $9,557,324. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Up 1.1%

McCormick & Company, Incorporated stock opened at $67.50 on Friday. 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 stock has a market capitalization of $18.12 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61. The business has a 50 day simple moving average of $66.05 and a 200-day simple moving average of $70.21. McCormick & Company, Incorporated has a 12 month low of $63.15 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (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 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 business’s revenue was up 2.7% on a year-over-year basis. 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. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio is 66.44%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MKC shares. Barclays decreased their price target on shares of 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. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Jefferies Financial Group cut their price objective on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Stifel Nicolaus reduced their target price on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Finally, 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 report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.