McCormick & Company, Incorporated $MKC Stock Holdings Boosted by Ethic Inc.

Ethic Inc. lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 71,763 shares of the company’s stock after acquiring an additional 734 shares during the period. Ethic Inc.’s holdings in McCormick & Company, Incorporated were worth $5,476,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. IFM Investors Pty Ltd grew its position in shares of McCormick & Company, Incorporated by 13.3% during the first quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock worth $4,091,000 after acquiring an additional 5,829 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in McCormick & Company, Incorporated by 5.7% in the first quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock worth $7,267,000 after purchasing an additional 4,771 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in McCormick & Company, Incorporated by 10.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company’s stock worth $3,464,000 after purchasing an additional 3,877 shares during the period. Envestnet Asset Management Inc. lifted its holdings in McCormick & Company, Incorporated by 3.1% in the first quarter. Envestnet Asset Management Inc. now owns 621,806 shares of the company’s stock worth $51,181,000 after purchasing an additional 18,820 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in McCormick & Company, Incorporated by 5.9% in the first quarter. Principal Financial Group Inc. now owns 325,802 shares of the company’s stock worth $26,817,000 after purchasing an additional 18,133 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 2.5%

Shares of MKC stock opened at $68.56 on Thursday. McCormick & Company, Incorporated has a 12 month low of $63.66 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 business’s 50 day moving average is $68.02 and its two-hundred day moving average is $71.67. The company has a market cap of $18.40 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 3.92 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly 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 return on equity of 14.30% and a net margin of 11.46%.The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company posted $0.83 earnings per share. The company’s revenue for the quarter 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. Equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.28%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the completion of the transaction, the insider directly owned 246,762 shares in the company, valued at $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MKC has been the subject of several research analyst reports. Barclays reduced their price objective 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. Sanford C. Bernstein reduced their price objective 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, October 8th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. 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 note on Wednesday, October 8th. Finally, Jefferies Financial Group dropped their target price on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $78.22.

McCormick & Company, Incorporated Company 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.