IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 788 Shares of McCormick & Company, Incorporated $MKC

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 18,026 shares of the company’s stock after selling 788 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in McCormick & Company, Incorporated were worth $1,367,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

MKC has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped 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. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Jefferies Financial Group dropped their target price on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, UBS Group dropped their target price on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $78.22.

McCormick & Company, Incorporated Stock Down 1.7%

MKC stock opened at $66.00 on Wednesday. McCormick & Company, Incorporated has a 1-year low of $63.66 and a 1-year high of $86.24. The business has a fifty day moving average price of $67.82 and a 200-day moving average price of $71.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. The stock has a market capitalization of $17.71 billion, a P/E ratio of 22.84, a P/E/G ratio of 3.93 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company’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. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction 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 owned 246,762 shares in the company, valued at approximately $16,251,745.32. This 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 can be accessed through the SEC website. 23.80% of the stock is 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.