Strengthening Families & Communities LLC Takes $83,000 Position in McCormick & Company, Incorporated $MKC

Strengthening Families & Communities LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, HoldingsChannel.com reports. The firm bought 1,008 shares of the company’s stock, valued at approximately $83,000.

Other hedge funds have also recently bought and sold shares of the company. Capital Analysts LLC acquired a new stake in McCormick & Company, Incorporated during the first quarter worth approximately $26,000. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated during the first quarter worth approximately $28,000. Wayfinding Financial LLC acquired a new stake in McCormick & Company, Incorporated during the first quarter worth approximately $30,000. Salem Investment Counselors Inc. boosted its position in McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock worth $32,000 after acquiring an additional 336 shares during the last quarter. Finally, Stonebridge Financial Group LLC boosted its position in McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock worth $33,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction dated 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 transaction, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. The trade was a 16.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.9%

NYSE MKC opened at $66.70 on Friday. McCormick & Company, Incorporated has a one year low of $63.66 and a one year high of $86.24. The company has a 50-day simple moving average of $68.53 and a 200-day simple moving average of $72.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.27 and a current ratio of 0.71. The firm has a market capitalization of $17.90 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 3.83 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 net margin of 11.46% and a return on equity of 14.30%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business posted $0.83 EPS. The company’s quarterly 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, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 annualized dividend and a dividend yield of 2.7%. McCormick & Company, Incorporated’s payout ratio is 62.28%.

Analyst Ratings Changes

MKC has been the topic of a number of analyst reports. Sanford C. Bernstein decreased their target price on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a research report on Wednesday. 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. Jefferies Financial Group dropped their target price on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. 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 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.