Hazlett Burt & Watson Inc. Has $319,000 Stock Holdings in McCormick & Company, Incorporated $MKC

Hazlett Burt & Watson Inc. decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,237 shares of the company’s stock after selling 809 shares during the period. Hazlett Burt & Watson Inc.’s holdings in McCormick & Company, Incorporated were worth $319,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. IFM Investors Pty Ltd lifted its stake in McCormick & Company, Incorporated by 13.3% in the first quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock valued at $4,091,000 after acquiring an additional 5,829 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in McCormick & Company, Incorporated in the 1st quarter worth about $260,000. Stratos Wealth Partners LTD. raised its stake in McCormick & Company, Incorporated by 5.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock worth $7,267,000 after purchasing an additional 4,771 shares in the last quarter. Retirement Guys Formula LLC bought a new position in McCormick & Company, Incorporated in the 1st quarter valued at about $988,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in McCormick & Company, Incorporated by 10.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company’s stock valued at $3,464,000 after buying an additional 3,877 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $66.70 on Monday. McCormick & Company, Incorporated has a 52 week low of $63.66 and a 52 week high of $86.24. The company has a market cap of $17.90 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 3.86 and a beta of 0.63. 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’s 50-day simple moving average is $68.53 and its two-hundred day simple moving average is $72.33.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 62.28%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MKC. Sanford C. Bernstein decreased their price target on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock 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 report on Saturday. UBS Group dropped their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target 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, Jefferies Financial Group dropped their target price on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $78.22.

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total value of $3,293,000.00. Following the transaction, the insider owned 246,762 shares in the company, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 23.80% of the company’s stock.

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.