KBC Group NV Raises Stock Holdings in McCormick & Company, Incorporated $MKC

KBC Group NV boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 15.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,853 shares of the company’s stock after acquiring an additional 5,952 shares during the quarter. KBC Group NV’s holdings in McCormick & Company, Incorporated were worth $3,325,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MKC. EagleClaw Capital Managment LLC lifted its position in shares of McCormick & Company, Incorporated by 0.4% during the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock worth $3,018,000 after purchasing an additional 135 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of McCormick & Company, Incorporated by 4.8% in the second quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company’s stock worth $246,000 after purchasing an additional 148 shares during the last quarter. Raab & Moskowitz Asset Management LLC increased its stake in McCormick & Company, Incorporated by 5.0% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company’s stock worth $289,000 after buying an additional 167 shares during the period. Horizon Investments LLC increased its stake in McCormick & Company, Incorporated by 5.0% in the 1st quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock worth $296,000 after buying an additional 173 shares during the period. Finally, ORG Partners LLC lifted its holdings in McCormick & Company, Incorporated by 13.2% during the 2nd quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock valued at $115,000 after buying an additional 173 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’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 sale, the insider directly owned 246,762 shares in the company, 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. Also, CEO Brendan M. Foley sold 57,144 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the completion of the transaction, the chief executive officer directly owned 108,652 shares in the company, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 146,158 shares of company stock worth $9,557,324 in the last quarter. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $65.34 on Friday. The firm has a market cap of $17.54 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 3.74 and a beta of 0.61. McCormick & Company, Incorporated has a 52-week low of $63.15 and a 52-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. The company’s 50 day moving average is $66.33 and its 200 day moving average is $70.45.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping 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 company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. McCormick & Company, Incorporated’s revenue 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. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.8%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 62.28%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group dropped their target price on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” 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 report on Saturday, October 11th. Stifel Nicolaus dropped their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Jefferies Financial Group decreased their target price on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.22.

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.