Neo Ivy Capital Management Purchases Shares of 5,281 McCormick & Company, Incorporated $MKC

Neo Ivy Capital Management purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 5,281 shares of the company’s stock, valued at approximately $400,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MKC. Vanguard Group Inc. increased its position in McCormick & Company, Incorporated by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,427,901 shares of the company’s stock valued at $2,458,683,000 after acquiring an additional 553,862 shares during the period. Geode Capital Management LLC boosted its position 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 worth $481,354,000 after acquiring an additional 133,800 shares during the period. T. Rowe Price Investment Management Inc. boosted its position 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 worth $340,406,000 after acquiring an additional 920,618 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 worth $265,920,000 after purchasing an additional 184,230 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of 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 valued at $194,253,000 after purchasing an additional 60,604 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Up 0.9%

NYSE MKC 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. The company’s 50 day simple moving average is $66.03 and its 200 day simple moving average is $70.13. McCormick & Company, Incorporated has a 12 month low of $63.15 and a 12 month high of $86.24. The company has a market capitalization of $18.28 billion, a P/E ratio of 23.57, a PEG ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, December 29th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s payout ratio is presently 66.44%.

Insiders Place Their Bets

In related news, CEO Brendan M. Foley sold 57,144 shares of the 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 completion of the transaction, the chief executive officer 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 SEC, which can be accessed through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated 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 completion of the transaction, the insider directly owned 246,762 shares in the company, valued at $16,251,745.32. This represents a 16.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 146,158 shares of company stock worth $9,557,324 over the last 90 days. Insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MKC shares. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Barclays decreased 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 report on Wednesday, October 8th. Finally, UBS Group lowered 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. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.