Magnetar Financial LLC Invests $238,000 in McCormick & Company, Incorporated $MKC

Magnetar Financial LLC acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,137 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Jackson Hole Trust bought a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $25,000. Capital Analysts LLC bought a new position in McCormick & Company, Incorporated in the 1st quarter valued at approximately $26,000. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $28,000. Curio Wealth LLC grew its stake in shares of McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 399 shares during the last quarter. Finally, MTM Investment Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the second quarter worth $30,000. Institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, 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 transaction of $3,293,000.00. Following the completion of the sale, the insider directly owned 246,762 shares in the company, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction dated 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 in the company, valued at $7,123,225.12. This represents a 34.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 146,158 shares of company stock valued at $9,557,324 in the last three months. 23.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MKC shares. UBS Group cut their price objective on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Sanford C. Bernstein reduced their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Trading Up 0.4%

Shares of MKC stock opened at $67.40 on Thursday. McCormick & Company, Incorporated has a 1-year low of $63.15 and a 1-year high of $86.24. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. The stock has a market cap of $18.09 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 3.74 and a beta of 0.61. The stock has a 50-day moving average of $66.06 and a 200-day moving average of $69.95.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm 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 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be given 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 is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is currently 66.44%.

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.