McCormick & Company, Incorporated $MKC Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,112,314 shares of the company’s stock after selling 196,402 shares during the period. ProShare Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $160,156,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of McCormick & Company, Incorporated by 0.4% in the first quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company’s stock valued at $2,623,552,000 after buying an additional 136,729 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in McCormick & Company, Incorporated by 28.6% in 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 acquiring an additional 920,618 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in McCormick & Company, Incorporated by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,230,719 shares of the company’s stock valued at $265,920,000 after acquiring an additional 184,230 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of McCormick & Company, Incorporated by 2.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company’s stock worth $194,253,000 after purchasing an additional 60,604 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt grew its stake in shares of McCormick & Company, Incorporated by 94.7% during the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock worth $134,795,000 after purchasing an additional 865,500 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MKC. UBS Group lowered 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. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Jefferies Financial Group reduced their price target on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus price target of $78.22.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $65.05 on Monday. The firm has a 50-day moving average of $66.79 and a two-hundred day moving average of $70.76. 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 cap of $17.46 billion, a P/E ratio of 22.51, a PEG ratio of 3.74 and a beta of 0.61. McCormick & Company, Incorporated has a 1-year low of $63.15 and a 1-year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.8%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 62.28%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction 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 sale, the insider owned 246,762 shares in the company, valued at approximately $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 accessible through this link. Insiders own 23.80% of the company’s stock.

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.