Ingalls & Snyder LLC Lowers Holdings in McCormick & Company, Incorporated $MKC

Ingalls & Snyder LLC decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.6% in the second quarter, Holdings Channel reports. The institutional investor owned 5,304 shares of the company’s stock after selling 200 shares during the quarter. Ingalls & Snyder LLC’s holdings in McCormick & Company, Incorporated were worth $402,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of McCormick & Company, Incorporated by 0.4% in the first 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 during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of 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 purchasing an additional 920,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of McCormick & Company, Incorporated by 6.0% in the first 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 during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of McCormick & Company, Incorporated by 2.6% in the first 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 during the last quarter. Finally, Alecta Tjanstepension Omsesidigt raised its stake in shares of McCormick & Company, Incorporated by 94.7% in the second 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 during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 0.8%

McCormick & Company, Incorporated stock opened at $66.86 on Monday. McCormick & Company, Incorporated has a 12-month low of $63.66 and a 12-month high of $86.24. The firm has a market capitalization of $17.94 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 3.91 and a beta of 0.63. The firm has a 50 day moving average of $67.91 and a 200 day moving average of $71.56. 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 (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.28%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MKC shares. Deutsche Bank Aktiengesellschaft lowered their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. UBS Group lowered their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Stifel Nicolaus dropped their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Sanford C. Bernstein reduced their target price 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. Finally, Jefferies Financial Group dropped their price target on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock 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 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.