McCormick & Company, Incorporated $MKC Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 50.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,192,156 shares of the company’s stock after selling 1,193,964 shares during the quarter. Voya Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $79,634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in McCormick & Company, Incorporated in the second quarter worth approximately $249,087,000. Alyeska Investment Group L.P. grew its holdings in shares of McCormick & Company, Incorporated by 1,360.5% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock worth $129,647,000 after acquiring an additional 1,467,254 shares during the last quarter. Invesco Ltd. raised its position in shares of McCormick & Company, Incorporated by 44.9% during the second quarter. Invesco Ltd. now owns 3,737,793 shares of the company’s stock worth $283,399,000 after purchasing an additional 1,158,423 shares during the period. Alecta Tjanstepension Omsesidigt lifted its holdings in shares of McCormick & Company, Incorporated by 94.7% during the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after purchasing an additional 865,500 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of McCormick & Company, Incorporated by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,427,901 shares of the company’s stock valued at $2,458,683,000 after purchasing an additional 553,862 shares during the period. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Trading Up 0.3%

McCormick & Company, Incorporated stock opened at $68.64 on Friday. McCormick & Company, Incorporated has a 12 month low of $62.64 and a 12 month high of $86.24. 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 stock has a market cap of $18.42 billion, a P/E ratio of 23.75, a P/E/G ratio of 4.53 and a beta of 0.62. The company’s fifty day simple moving average is $66.01 and its 200-day simple moving average is $69.14.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS 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. Shareholders 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 2.8%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.28%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jefferies Financial Group reduced their price objective on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Monday, December 15th. UBS Group cut their target price on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Barclays dropped their price target on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus price target of $78.00.

Insider Activity at McCormick & Company, Incorporated

In related news, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 108,652 shares in the company, valued at approximately $7,123,225.12. This represents a 34.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total transaction of $2,517,963.56. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 146,158 shares of company stock valued at $9,557,324 over the last three months. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private?label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.