McCormick & Company, Incorporated $MKC Shares Bought by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 34.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 38,855 shares of the company’s stock after buying an additional 9,954 shares during the quarter. Prosperity Consulting Group LLC’s holdings in McCormick & Company, Incorporated were worth $2,946,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. IFM Investors Pty Ltd grew its holdings in McCormick & Company, Incorporated by 13.3% during the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock worth $4,091,000 after acquiring an additional 5,829 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in McCormick & Company, Incorporated by 5.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock worth $7,267,000 after acquiring an additional 4,771 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in McCormick & Company, Incorporated by 3.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 621,806 shares of the company’s stock worth $51,181,000 after acquiring an additional 18,820 shares in the last quarter. Principal Financial Group Inc. grew its holdings in McCormick & Company, Incorporated by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 325,802 shares of the company’s stock worth $26,817,000 after acquiring an additional 18,133 shares in the last quarter. Finally, Van Cleef Asset Management Inc grew its holdings in McCormick & Company, Incorporated by 20.9% during the 1st quarter. Van Cleef Asset Management Inc now owns 251,814 shares of the company’s stock worth $20,727,000 after acquiring an additional 43,494 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MKC. 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. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, UBS Group decreased their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $78.22.

Insiders Place Their Bets

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated 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 sale, the insider directly owned 246,762 shares in the company, valued at $16,251,745.32. This trade represents a 16.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 0.4%

Shares of NYSE:MKC opened at $63.92 on Tuesday. The company has a market cap of $17.15 billion, a PE ratio of 22.12, a P/E/G ratio of 3.74 and a beta of 0.63. The company’s 50-day moving average price is $67.27 and its 200 day moving average price is $71.07. McCormick & Company, Incorporated has a fifty-two week low of $63.15 and a fifty-two week high of $86.24. 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 (NYSE:MKC) last issued its quarterly earnings data 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 firm 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%. McCormick & Company, Incorporated’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $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 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%.

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.