2,779 Shares in McCormick & Company, Incorporated $MKC Purchased by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC bought a new position in McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,779 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Analysts LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter valued at about $26,000. Zions Bancorporation National Association UT purchased a new stake in McCormick & Company, Incorporated in the 1st quarter valued at about $28,000. Wayfinding Financial LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter valued at about $30,000. Curio Wealth LLC increased its stake in McCormick & Company, Incorporated by 39,900.0% in the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock valued at $30,000 after buying an additional 399 shares during the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MKC. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 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. Jefferies Financial Group decreased their price objective on shares of 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. Sanford C. Bernstein decreased their price objective on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of 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, Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $78.22.

Insider Buying and Selling

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s 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 completion of the transaction, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.4%

Shares of MKC stock opened at $64.10 on Friday. The company has a 50 day moving average of $67.56 and a 200-day moving average of $71.29. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 12-month low of $63.64 and a 12-month high of $86.24. The firm has a market cap of $17.20 billion, a P/E ratio of 22.18, a PEG ratio of 3.74 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The company had revenue of $1.72 billion during 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%. McCormick & Company, Incorporated’s revenue for the quarter was up 2.7% on a year-over-year basis. 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. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Tuesday, October 14th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $1.80 annualized dividend and a yield of 2.8%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.28%.

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.