McCormick & Company, Incorporated (NYSE:MKC) Major Shareholder Lawrence Erik Kurzius Sells 39,014 Shares

McCormick & Company, Incorporated (NYSE:MKC) 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 value of $2,517,963.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Lawrence Erik Kurzius also recently made the following trade(s):

• On Wednesday, October 8th, Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock. The shares were sold at an average price of $65.86, for a total value of $3,293,000.00.

McCormick & Company, Incorporated Trading Up 0.4%

NYSE:MKC opened at $65.96 on Thursday. The company’s 50 day moving average is $66.53 and its 200-day moving average is $70.59. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 12 month low of $63.15 and a 12 month high of $86.24. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. McCormick & Company, Incorporated’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 62.28%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several large investors have recently added to or reduced their stakes in MKC. Dupont Capital Management Corp acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at $4,321,000. Bright Rock Capital Management LLC acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth about $7,582,000. Westfield Capital Management Co. LP bought a new stake in McCormick & Company, Incorporated during the 1st quarter worth about $47,056,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in McCormick & Company, Incorporated by 4.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,401 shares of the company’s stock valued at $9,169,000 after acquiring an additional 4,596 shares in the last quarter. Finally, CW Advisors LLC acquired a new stake in McCormick & Company, Incorporated in the 1st quarter valued at about $1,099,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MKC shares. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Deutsche Bank Aktiengesellschaft lowered their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Sanford C. Bernstein reduced their price objective on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus dropped their target price on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.