Intech Investment Management LLC Sells 89,114 Shares of McCormick & Company, Incorporated $MKC

Intech Investment Management LLC lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 45.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,121 shares of the company’s stock after selling 89,114 shares during the quarter. Intech Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $8,274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $25,000. Capital Analysts LLC bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $26,000. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated in the 1st quarter valued at $28,000. Curio Wealth LLC boosted 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 in the last quarter. Finally, GHP Investment Advisors Inc. grew its position in McCormick & Company, Incorporated by 132.0% in the second quarter. GHP Investment Advisors Inc. now owns 464 shares of the company’s stock valued at $35,000 after acquiring an additional 264 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.1%

NYSE MKC opened at $65.34 on Monday. The stock has a market capitalization of $17.54 billion, a P/E ratio of 22.61, a price-to-earnings-growth 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 debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The stock has a fifty day moving average of $66.33 and a 200-day moving average of $70.41.

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

McCormick & Company, Incorporated Announces Dividend

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. This represents a $1.80 annualized dividend and a yield of 2.8%. The ex-dividend date was Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.28%.

Analyst Ratings Changes

A number of research analysts have issued reports on MKC shares. Jefferies Financial Group cut 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. Deutsche Bank Aktiengesellschaft cut their price target 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. UBS Group decreased their price objective 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. Sanford C. Bernstein cut their target price 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. Finally, Stifel Nicolaus reduced their target price on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $78.22.

Insiders Place Their Bets

In other news, CEO Brendan M. Foley sold 57,144 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total value of $3,746,360.64. Following the transaction, the chief executive officer directly owned 108,652 shares in the company, valued at $7,123,225.12. This trade represents a 34.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $64.54, for a total value of $2,517,963.56. The SEC filing for this sale provides additional information. Insiders have sold a total of 146,158 shares of company stock valued at $9,557,324 in the last ninety days. Company insiders own 23.80% of the company’s stock.

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.