Magnetar Financial LLC Takes Position in McCormick & Company, Incorporated $MKC

Magnetar Financial LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,137 shares of the company’s stock, valued at approximately $238,000.

Other large investors have also bought and sold shares of the company. EagleClaw Capital Managment LLC raised its holdings in shares of McCormick & Company, Incorporated by 0.4% during the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock valued at $3,018,000 after purchasing an additional 135 shares during the period. SBI Securities Co. Ltd. increased its position in McCormick & Company, Incorporated by 4.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company’s stock valued at $246,000 after buying an additional 148 shares in the last quarter. Raab & Moskowitz Asset Management LLC raised its stake in McCormick & Company, Incorporated by 5.0% during the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company’s stock worth $289,000 after buying an additional 167 shares during the period. Horizon Investments LLC boosted its holdings in McCormick & Company, Incorporated by 5.0% in the first quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock worth $296,000 after acquiring an additional 173 shares in the last quarter. Finally, ORG Partners LLC boosted its holdings in McCormick & Company, Incorporated by 13.2% in the second quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock worth $115,000 after acquiring an additional 173 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on MKC. Barclays decreased their price objective 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. UBS Group lowered their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Jefferies Financial Group dropped 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. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $78.22.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total value of $3,746,360.64. Following the transaction, the chief executive officer owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. The trade was 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 accessible through this link. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’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 transaction, the insider owned 246,762 shares of the company’s stock, valued at $16,251,745.32. This trade represents a 16.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 146,158 shares of company stock valued at $9,557,324. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

MKC opened at $67.40 on Thursday. McCormick & Company, Incorporated has a 1 year low of $63.15 and a 1 year high of $86.24. 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 market capitalization of $18.09 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 3.74 and a beta of 0.61. The firm’s fifty day moving average price is $66.06 and its two-hundred day moving average price is $69.95.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, January 12th. Stockholders 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 dividend yield of 2.8%. The ex-dividend date is Monday, December 29th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 66.44%.

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.