Tobam Has $392,000 Stock Position in McCormick & Company, Incorporated $MKC

Tobam cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 73.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,166 shares of the company’s stock after selling 14,427 shares during the period. Tobam’s holdings in McCormick & Company, Incorporated were worth $392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Jackson Hole Trust acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $25,000. Capital Analysts LLC bought a new position in McCormick & Company, Incorporated during the 1st quarter worth $26,000. Zions Bancorporation National Association UT bought a new position in McCormick & Company, Incorporated during the 1st quarter worth $28,000. Curio Wealth LLC lifted its holdings in shares of McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 399 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in shares of McCormick & Company, Incorporated by 132.0% in the second quarter. GHP Investment Advisors Inc. now owns 464 shares of the company’s stock valued at $35,000 after acquiring an additional 264 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 2.1%

Shares of MKC stock opened at $65.64 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $63.15 and a fifty-two week high of $86.24. The stock’s fifty day moving average price is $66.60 and its two-hundred day moving average price is $70.62. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The company has a market cap of $17.62 billion, a PE ratio of 22.71, a P/E/G ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share 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 return on equity of 14.30% and a net margin of 11.46%.McCormick & Company, Incorporated’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 EPS. 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 fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Insider Activity at McCormick & Company, Incorporated

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

Analyst Upgrades and Downgrades

MKC has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Barclays dropped their price target on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Sanford C. Bernstein reduced their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.