Lawrence Erik Kurzius Sells 50,000 Shares of McCormick & Company, Incorporated (NYSE:MKC) Stock

McCormick & Company, Incorporated (NYSE:MKC) major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 246,762 shares of the company’s stock, valued at $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

McCormick & Company, Incorporated Stock Up 0.9%

NYSE:MKC opened at $66.70 on Friday. The firm has a market capitalization of $17.90 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 3.86 and a beta of 0.63. The stock has a 50 day moving average of $68.53 and a 200-day moving average of $72.39. McCormick & Company, Incorporated has a 52 week low of $63.66 and a 52 week high of $86.24. The company has a current ratio of 0.71, a quick ratio of 0.27 and a debt-to-equity ratio of 0.54.

McCormick & Company, Incorporated (NYSE:MKC) last posted its 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. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.45 per share. The ex-dividend date 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 currently 62.28%.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of institutional investors have recently added to or reduced their stakes in MKC. Pallas Capital Advisors LLC acquired a new stake in McCormick & Company, Incorporated in the first quarter worth approximately $434,000. SG Americas Securities LLC lifted its position in McCormick & Company, Incorporated by 204.2% in the first quarter. SG Americas Securities LLC now owns 27,592 shares of the company’s stock worth $2,271,000 after purchasing an additional 18,521 shares during the period. CX Institutional acquired a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at $275,000. USA Financial Formulas lifted its position in shares of McCormick & Company, Incorporated by 42.6% during the 1st quarter. USA Financial Formulas now owns 2,718 shares of the company’s stock valued at $224,000 after acquiring an additional 812 shares during the last quarter. Finally, Focus Financial Network Inc. lifted its position in shares of McCormick & Company, Incorporated by 8.8% during the 1st quarter. Focus Financial Network Inc. now owns 6,226 shares of the company’s stock valued at $512,000 after acquiring an additional 505 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MKC shares. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup reduced their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft reduced their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, 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. Four equities 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, the stock presently has an average 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.