Quantbot Technologies LP Takes Position in McCormick & Company, Incorporated $MKC

Quantbot Technologies LP acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 36,356 shares of the company’s stock, valued at approximately $2,757,000.

Several other large investors have also recently added to or reduced their stakes in MKC. Capital Analysts LLC acquired a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $26,000. Bank of Jackson Hole Trust purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter worth $25,000. Zions Bancorporation National Association UT acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at $28,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at $27,000. Finally, Anfield Capital Management LLC boosted its holdings in McCormick & Company, Incorporated by 161.3% in the second quarter. Anfield Capital Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 242 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MKC shares. Barclays cut their price target on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a report 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 note on Thursday, September 25th. UBS Group decreased their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Finally, Sanford C. Bernstein decreased their price objective on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $78.22.

Insider Activity

In other news, CEO Brendan M. Foley sold 57,144 shares of the business’s 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 directly owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total value of $2,517,963.56. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 146,158 shares of company stock valued at $9,557,324 over the last three months. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $63.43 on Friday. 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 $63.14 and a 52 week high of $86.24. The firm’s 50 day moving average is $66.14 and its two-hundred day moving average is $69.60. The firm has a market capitalization of $17.02 billion, a P/E ratio of 21.95, a P/E/G ratio of 4.44 and a beta of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The business 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 company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, December 29th. McCormick & Company, Incorporated’s payout ratio is presently 62.28%.

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.