McCormick & Company, Incorporated $MKC Shares Sold by Mcdaniel Terry & Co.

Mcdaniel Terry & Co. reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,953 shares of the company’s stock after selling 1,275 shares during the period. McCormick & Company, Incorporated accounts for about 1.6% of Mcdaniel Terry & Co.’s holdings, making the stock its 23rd biggest holding. Mcdaniel Terry & Co. owned approximately 0.09% of McCormick & Company, Incorporated worth $18,951,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MKC. Alyeska Investment Group L.P. grew its stake in shares of McCormick & Company, Incorporated by 1,360.5% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock valued at $129,647,000 after buying an additional 1,467,254 shares during the period. T. Rowe Price Investment Management Inc. grew its position in McCormick & Company, Incorporated by 28.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock worth $340,406,000 after acquiring an additional 920,618 shares during the period. Alecta Tjanstepension Omsesidigt increased its stake in McCormick & Company, Incorporated by 94.7% during the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock worth $134,795,000 after acquiring an additional 865,500 shares during the last quarter. Nuveen LLC purchased a new stake in McCormick & Company, Incorporated in the first quarter valued at $55,643,000. Finally, Westfield Capital Management Co. LP purchased a new stake in McCormick & Company, Incorporated in the first quarter valued at $47,056,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Down 0.8%

NYSE:MKC opened at $66.86 on Friday. McCormick & Company, Incorporated has a 12-month low of $63.66 and a 12-month high of $86.24. The firm has a market cap of $17.94 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 3.94 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. The stock has a fifty day moving average price of $67.91 and a 200 day moving average price of $71.59.

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. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.McCormick & Company, Incorporated’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MKC shares. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target 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, October 8th. Sanford C. Bernstein decreased their price objective on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Finally, Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research 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’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $78.22.

Insider Buying and Selling

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

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.