Whittier Trust Co. Has $214,000 Stock Holdings in McCormick & Company, Incorporated $MKC

Whittier Trust Co. lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 53.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,826 shares of the company’s stock after selling 3,220 shares during the quarter. Whittier Trust Co.’s holdings in McCormick & Company, Incorporated were worth $214,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. EagleClaw Capital Managment LLC increased its stake in shares of McCormick & Company, Incorporated by 0.4% during the 1st quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock worth $3,018,000 after purchasing an additional 135 shares during the last quarter. Raab & Moskowitz Asset Management LLC increased its stake in shares of McCormick & Company, Incorporated by 5.0% during the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company’s stock worth $289,000 after purchasing an additional 167 shares during the last quarter. Horizon Investments LLC increased its stake in shares of McCormick & Company, Incorporated by 5.0% during the 1st quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock worth $296,000 after purchasing an additional 173 shares during the last quarter. ORG Partners LLC increased its stake in shares of McCormick & Company, Incorporated by 13.2% during the 2nd quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock worth $115,000 after purchasing an additional 173 shares during the last quarter. Finally, Nicholson Wealth Management Group LLC increased its stake in shares of McCormick & Company, Incorporated by 1.0% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 19,127 shares of the company’s stock worth $1,450,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $66.86 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $67.91 and a 200 day simple moving average of $71.59. The company has a market cap of $17.94 billion, a P/E ratio of 23.13, a P/E/G ratio of 3.94 and a beta of 0.63. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm earned $0.83 EPS. The business’s revenue 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. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

Insiders Place Their Bets

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 shares were sold at an average price of $65.86, for a total value of $3,293,000.00. Following the completion of the sale, the insider directly owned 246,762 shares of the company’s stock, valued at $16,251,745.32. This represents a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 23.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MKC has been the topic of several analyst reports. UBS Group dropped their price target 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. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Barclays dropped their price target on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Jefferies Financial Group decreased 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 report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased 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 report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated 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.