Franklin Resources Inc. Decreases Stock Position in McCormick & Company, Incorporated $MKC

Franklin Resources Inc. decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 31.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,292,684 shares of the company’s stock after selling 1,533,979 shares during the quarter. Franklin Resources Inc. owned 1.23% of McCormick & Company, Incorporated worth $249,651,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at about $4,321,000. Bright Rock Capital Management LLC acquired a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $7,582,000. Westfield Capital Management Co. LP purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $47,056,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in McCormick & Company, Incorporated by 4.3% in the first 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 during the last quarter. Finally, CW Advisors LLC acquired a new stake in McCormick & Company, Incorporated during the 1st quarter valued at approximately $1,099,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the completion of the transaction, the insider directly owned 246,762 shares of the company’s stock, valued at $16,251,745.32. The trade was a 16.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction that occurred 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 146,158 shares of company stock valued at $9,557,324 over the last ninety days. Corporate insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Sanford C. Bernstein cut their target price on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. UBS Group cut their price target on shares of 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 reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Finally, 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 research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Stock Up 0.9%

MKC stock opened at $68.12 on Friday. 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 has a 1-year low of $63.15 and a 1-year high of $86.24. The firm has a fifty day moving average price of $66.03 and a two-hundred day moving average price of $70.13. The firm has a market cap of $18.28 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 3.74 and a beta of 0.61.

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, 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 company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm posted $0.83 EPS. The company’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. Research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.8%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is currently 66.44%.

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.