Universal Beteiligungs und Servicegesellschaft mbH Has $19.60 Million Stock Position in McCormick & Company, Incorporated $MKC

Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,545 shares of the company’s stock after purchasing an additional 23,459 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.10% of McCormick & Company, Incorporated worth $19,603,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of McCormick & Company, Incorporated by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company’s stock valued at $2,623,552,000 after purchasing an additional 136,729 shares in the last quarter. Geode Capital Management LLC lifted its holdings in McCormick & Company, Incorporated by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 6,375,983 shares of the company’s stock valued at $481,354,000 after purchasing an additional 133,800 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in McCormick & Company, Incorporated by 28.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after purchasing an additional 920,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 buying an additional 184,230 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in McCormick & Company, Incorporated by 2.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company’s stock worth $194,253,000 after buying an additional 60,604 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MKC shares. Stifel Nicolaus cut their target price on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. UBS Group cut their price objective on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Sanford C. Bernstein reduced their price objective on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. 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 research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $78.22.

Insider Activity

In related news, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value 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 approximately $7,123,225.12. This represents a 34.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the transaction, the insider owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,158 shares of company stock worth $9,557,324 in the last ninety days. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.9%

NYSE:MKC opened at $65.12 on Wednesday. The company has a market cap of $17.48 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 3.74 and a beta of 0.61. 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’s fifty day moving average price is $66.13 and its two-hundred day moving average price is $70.25. McCormick & Company, Incorporated has a 52-week low of $63.15 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.71 billion. During the same period last year, the firm earned $0.83 EPS. The business’s revenue for the quarter 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, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, December 29th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.28%.

McCormick & Company, Incorporated Company 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.