Thurston Springer Miller Herd & Titak Inc. Sells 20,930 Shares of McCormick & Company, Incorporated $MKC

Thurston Springer Miller Herd & Titak Inc. lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 90.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,115 shares of the company’s stock after selling 20,930 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in McCormick & Company, Incorporated were worth $141,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Bank of Jackson Hole Trust purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $25,000. Capital Analysts LLC purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $26,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at about $27,000. Heartwood Wealth Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth approximately $28,000. Finally, Curio Wealth LLC raised its stake in shares of McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after acquiring an additional 399 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MKC. JPMorgan Chase & Co. decreased their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Sanford C. Bernstein reissued an “outperform” rating and set a $87.00 target price on shares of McCormick & Company, Incorporated in a research report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Stifel Nicolaus reduced their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $78.00.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the completion of the transaction, the chief executive officer owned 108,652 shares in the company, valued at $7,123,225.12. This represents a 34.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $64.54, for a total transaction of $2,517,963.56. The SEC filing for this sale provides additional information. In the last three months, insiders sold 146,158 shares of company stock valued at $9,557,324. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Trading Down 0.2%

MKC stock opened at $68.33 on Wednesday. McCormick & Company, Incorporated has a 52-week low of $62.64 and a 52-week 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 firm has a market cap of $18.34 billion, a P/E ratio of 23.64, a PEG ratio of 4.74 and a beta of 0.62. The company’s 50-day simple moving average is $65.86 and its 200-day simple moving average is $69.18.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. McCormick & Company, Incorporated’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, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio is 62.28%.

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.