Teacher Retirement System of Texas Buys 13,781 Shares of McCormick & Company, Incorporated $MKC

Teacher Retirement System of Texas lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 13.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,925 shares of the company’s stock after acquiring an additional 13,781 shares during the quarter. Teacher Retirement System of Texas’ holdings in McCormick & Company, Incorporated were worth $8,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Transcend Capital Advisors LLC acquired a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $211,000. Envestnet Asset Management Inc. grew its stake in McCormick & Company, Incorporated by 36.6% during the second quarter. Envestnet Asset Management Inc. now owns 849,468 shares of the company’s stock worth $64,407,000 after purchasing an additional 227,662 shares during the period. Oppenheimer Asset Management Inc. grew its stake in McCormick & Company, Incorporated by 34.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,605 shares of the company’s stock worth $577,000 after purchasing an additional 1,930 shares during the period. AG2R LA Mondiale Gestion D Actifs grew its stake in McCormick & Company, Incorporated by 14.2% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 13,155 shares of the company’s stock worth $997,000 after purchasing an additional 1,634 shares during the period. Finally, Curio Wealth LLC grew its stake in McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after purchasing an additional 399 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on MKC. Barclays decreased their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. UBS Group decreased their target price on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, Jefferies Financial Group reduced their price objective on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus price target of $78.22.

McCormick & Company, Incorporated Trading Down 3.3%

Shares of McCormick & Company, Incorporated stock opened at $63.83 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. McCormick & Company, Incorporated has a 52 week low of $63.64 and a 52 week high of $86.24. The stock has a 50 day moving average price of $67.70 and a two-hundred day moving average price of $71.34. The stock has a market capitalization of $17.13 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 3.86 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Tuesday, October 14th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.8%. McCormick & Company, Incorporated’s payout ratio is presently 62.28%.

Insider Activity

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred 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 transaction, the insider owned 246,762 shares of the company’s stock, valued at $16,251,745.32. The trade was a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.80% of the stock is currently owned by insiders.

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.