McCormick & Company, Incorporated $MKC Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 51.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,143 shares of the company’s stock after selling 30,275 shares during the quarter. Wealthfront Advisers LLC’s holdings in McCormick & Company, Incorporated were worth $2,134,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Capital Analysts LLC purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $26,000. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at $28,000. Wayfinding Financial LLC bought a new position in McCormick & Company, Incorporated during the 1st quarter valued at $30,000. Curio Wealth LLC grew its holdings in McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after acquiring an additional 399 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction dated 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 owned 246,762 shares in the company, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 23.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Jefferies Financial Group lowered their price objective on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Barclays cut their price objective on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus target price of $78.22.

McCormick & Company, Incorporated Trading Up 0.4%

NYSE:MKC opened at $64.10 on Friday. The firm has a market capitalization of $17.20 billion, a P/E ratio of 22.18, a P/E/G ratio of 3.74 and a beta of 0.63. The business has a 50 day simple moving average of $67.56 and a 200 day simple moving average of $71.29. 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 12-month low of $63.64 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its 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 for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter 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 research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Tuesday, October 14th were given a $0.45 dividend. The ex-dividend date 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 currently 62.28%.

McCormick & Company, Incorporated 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.