Commerzbank Aktiengesellschaft FI Takes Position in McCormick & Company, Incorporated $MKC

Commerzbank Aktiengesellschaft FI bought a new position in McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,973 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds have also made changes to their positions in MKC. Capital Analysts LLC bought 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 stake in McCormick & Company, Incorporated during the 1st quarter valued at $28,000. Wayfinding Financial LLC acquired a new stake in McCormick & Company, Incorporated during the 1st quarter valued at $30,000. Salem Investment Counselors Inc. raised its position in McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after purchasing an additional 336 shares during the last quarter. Finally, Stonebridge Financial Group LLC boosted its stake in McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock worth $33,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MKC shares. 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 research note on Wednesday. Sanford C. Bernstein dropped their target price on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a research note on Wednesday. Citigroup decreased their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 17th. Stifel Nicolaus dropped their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $78.22.

McCormick & Company, Incorporated Trading Up 0.9%

Shares of NYSE MKC opened at $66.70 on Friday. The company’s 50 day simple moving average is $68.53 and its 200 day simple moving average is $72.39. McCormick & Company, Incorporated has a fifty-two week low of $63.66 and a fifty-two week high of $86.24. The firm has a market capitalization of $17.90 billion, a P/E ratio of 23.08, a P/E/G ratio of 3.86 and a beta of 0.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.27.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.72 billion during 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 quarter in the previous year, the business earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.28%.

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 246,762 shares of the company’s stock, valued at $16,251,745.32. This represents a 16.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 23.80% of the company’s stock.

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.