Securian Asset Management Inc. Sells 256 Shares of McCormick & Company, Incorporated $MKC

Securian Asset Management Inc. lessened its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,089 shares of the company’s stock after selling 256 shares during the period. Securian Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of McCormick & Company, Incorporated by 1.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 50,897 shares of the company’s stock worth $3,876,000 after buying an additional 949 shares during the period. Canvas Wealth Advisors LLC bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $218,000. Cidel Asset Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 45.8% during the 2nd quarter. Cidel Asset Management Inc. now owns 53,126 shares of the company’s stock worth $4,028,000 after buying an additional 16,693 shares during the period. TrueMark Investments LLC bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $1,505,000. Finally, Koshinski Asset Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 22.5% during the 2nd quarter. Koshinski Asset Management Inc. now owns 10,332 shares of the company’s stock worth $783,000 after buying an additional 1,896 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MKC. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Sanford C. Bernstein cut their price objective on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Finally, UBS Group cut their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $67.34 on Friday. The firm has a 50 day moving average of $67.96 and a 200-day moving average of $71.63. The stock has a market capitalization of $18.07 billion, a PE ratio of 23.30, a PEG ratio of 4.02 and a beta of 0.63. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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 analysts’ expectations of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a $0.45 dividend. 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 presently 62.28%.

Insider Activity at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’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 completion of the transaction, the insider directly owned 246,762 shares in the company, valued at approximately $16,251,745.32. The trade was a 16.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.80% of the company’s stock.

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.