Hazlett Burt & Watson Inc. Lowers Holdings in McCormick & Company, Incorporated $MKC

Hazlett Burt & Watson Inc. lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 16.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,237 shares of the company’s stock after selling 809 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in McCormick & Company, Incorporated were worth $319,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. EagleClaw Capital Managment LLC boosted its position 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 valued at $3,018,000 after acquiring an additional 135 shares during the last quarter. Raab & Moskowitz Asset Management LLC raised its holdings in 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 valued at $289,000 after buying an additional 167 shares during the period. Horizon Investments LLC increased its stake in McCormick & Company, Incorporated by 5.0% in the first 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 period. ORG Partners LLC increased its stake in McCormick & Company, Incorporated by 13.2% in the second 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 period. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its stake in McCormick & Company, Incorporated by 3.2% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 6,017 shares of the company’s stock worth $495,000 after purchasing an additional 184 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $66.70 on Monday. 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 market capitalization of $17.90 billion, a PE ratio of 23.08, a P/E/G ratio of 3.86 and a beta of 0.63. McCormick & Company, Incorporated has a 12-month low of $63.66 and a 12-month high of $86.24. The business’s fifty day moving average price is $68.53 and its 200 day moving average price is $72.33.

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, topping the consensus estimate 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 earned $0.83 EPS. McCormick & Company, Incorporated’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 anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given 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 dividend yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio is 62.28%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. UBS Group lowered their price target on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. 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 note on Tuesday, June 17th. Stifel Nicolaus reduced their price target on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $78.22.

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 that occurred 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 completion of the sale, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.80% of the company’s stock.

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.