Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 4,224 Shares of McCormick & Company, Incorporated $MKC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in McCormick & Company, Incorporated (NYSE:MKC) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,972 shares of the company’s stock after buying an additional 4,224 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in McCormick & Company, Incorporated were worth $4,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MKC. Dupont Capital Management Corp acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $4,321,000. Bright Rock Capital Management LLC bought a new stake in McCormick & Company, Incorporated during the second quarter worth $7,582,000. Westfield Capital Management Co. LP bought a new stake in McCormick & Company, Incorporated during the first quarter worth $47,056,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of McCormick & Company, Incorporated by 4.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,401 shares of the company’s stock valued at $9,169,000 after purchasing an additional 4,596 shares in the last quarter. Finally, CW Advisors LLC bought a new position in shares of McCormick & Company, Incorporated in the 1st quarter valued at $1,099,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction of $3,746,360.64. Following the completion of the transaction, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at $7,123,225.12. This trade represents a 34.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of McCormick & Company, Incorporated stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total value of $2,517,963.56. The disclosure for this sale is available in the SEC filing. Insiders sold 146,158 shares of company stock valued at $9,557,324 over the last 90 days. 23.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MKC shares. Sanford C. Bernstein dropped their price objective on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a research 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. 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 research note on Wednesday, October 8th. Stifel Nicolaus decreased their price target on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Finally, Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $78.22.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $65.12 on Wednesday. The business has a 50 day moving average of $66.13 and a 200-day moving average of $70.25. The company has a market capitalization of $17.48 billion, a P/E ratio of 22.53, a P/E/G 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. 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 (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 net margin of 11.46% and a return on equity of 14.30%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm posted $0.83 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be issued a $0.48 dividend. The ex-dividend date is Monday, December 29th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. 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.