2,765 Shares in McCormick & Company, Incorporated $MKC Purchased by West Family Investments Inc.

West Family Investments Inc. purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 2,765 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $249,087,000. Alyeska Investment Group L.P. increased its stake in shares of McCormick & Company, Incorporated by 1,360.5% in the first quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock worth $129,647,000 after purchasing an additional 1,467,254 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of McCormick & Company, Incorporated by 28.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after acquiring an additional 920,618 shares in the last quarter. Alecta Tjanstepension Omsesidigt boosted its stake in McCormick & Company, Incorporated by 94.7% in the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock worth $134,795,000 after purchasing an additional 865,500 shares during the period. Finally, Nuveen LLC bought a new stake in McCormick & Company, Incorporated in the 1st quarter valued at $55,643,000. 79.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MKC shares. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft lowered 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 note on Wednesday, October 8th. UBS Group dropped their price objective on 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. JPMorgan Chase & Co. cut their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, Barclays dropped their price objective on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $68.01 on Monday. The business has a fifty day moving average of $66.13 and a two-hundred day moving average of $69.81. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 52-week low of $63.15 and a 52-week high of $86.24. The stock has a market cap of $18.25 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.72 billion during 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%.McCormick & Company, Incorporated’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

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

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, CEO Brendan M. Foley sold 57,144 shares of McCormick & Company, Incorporated stock in a transaction dated 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 sale, the chief executive officer owned 108,652 shares in the company, valued at $7,123,225.12. The trade was a 34.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total value of $2,517,963.56. The SEC filing for this sale provides additional information. Insiders have sold 146,158 shares of company stock worth $9,557,324 in the last 90 days. Insiders own 23.80% of the company’s stock.

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.