Voya Investment Management LLC Trims Stock Holdings in McCormick & Company, Incorporated $MKC

Voya Investment Management LLC lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,192,156 shares of the company’s stock after selling 1,193,964 shares during the quarter. Voya Investment Management LLC owned approximately 0.44% of McCormick & Company, Incorporated worth $79,634,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Addenda Capital Inc. acquired a new position in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $3,145,000. Czech National Bank raised its holdings in McCormick & Company, Incorporated by 4.1% in the 3rd quarter. Czech National Bank now owns 64,268 shares of the company’s stock valued at $4,300,000 after acquiring an additional 2,504 shares during the last quarter. Spring Capital Management LLC lifted its stake in shares of McCormick & Company, Incorporated by 8.7% during the 3rd quarter. Spring Capital Management LLC now owns 66,111 shares of the company’s stock worth $4,423,000 after purchasing an additional 5,266 shares during the period. Ransom Advisory Ltd boosted its holdings in shares of McCormick & Company, Incorporated by 136.2% during the third quarter. Ransom Advisory Ltd now owns 4,465 shares of the company’s stock worth $299,000 after purchasing an additional 2,575 shares during the last quarter. Finally, Heartwood Wealth Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $28,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $64.54, for a total value of $2,517,963.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brendan M. Foley sold 57,144 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the transaction, 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. The SEC filing for this sale provides additional information. Insiders sold 146,158 shares of company stock worth $9,557,324 over the last ninety days. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $68.64 on Friday. McCormick & Company, Incorporated has a 52-week low of $62.64 and a 52-week high of $86.24. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The firm has a market cap of $18.42 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 4.53 and a beta of 0.62. The business’s 50 day moving average is $66.01 and its two-hundred day moving average is $69.14.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s revenue 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. Analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared 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 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 currently 62.28%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MKC shares. Barclays dropped 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 research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. 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. UBS Group reduced their target price 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. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $87.00 price target on shares of McCormick & Company, Incorporated in a research note on Thursday, December 11th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $78.00.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.