D.A. Davidson & CO. Increases Stock Position in McCormick & Company, Incorporated $MKC

D.A. Davidson & CO. raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,041 shares of the company’s stock after buying an additional 567 shares during the quarter. D.A. Davidson & CO.’s holdings in McCormick & Company, Incorporated were worth $1,747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MKC. Vanguard Group Inc. boosted its position in shares of McCormick & Company, Incorporated by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company’s stock worth $2,623,552,000 after purchasing an additional 136,729 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of McCormick & Company, Incorporated by 28.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock worth $340,406,000 after purchasing an additional 920,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of McCormick & Company, Incorporated by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,230,719 shares of the company’s stock worth $265,920,000 after purchasing an additional 184,230 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of McCormick & Company, Incorporated by 2.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company’s stock worth $194,253,000 after purchasing an additional 60,604 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt boosted its position in shares of McCormick & Company, Incorporated by 94.7% in the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock worth $134,795,000 after purchasing an additional 865,500 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $66.86 on Monday. The business’s fifty day moving average price is $67.91 and its 200-day moving average price is $71.56. The stock has a market capitalization of $17.94 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.91 and a beta of 0.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. McCormick & Company, Incorporated has a 1-year low of $63.66 and a 1-year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on MKC. Deutsche Bank Aktiengesellschaft dropped their price target on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Stifel Nicolaus lowered their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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 firm’s stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is currently owned by corporate 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.