Vest Financial LLC Sells 34,789 Shares of McCormick & Company, Incorporated $MKC

Vest Financial LLC lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 697,300 shares of the company’s stock after selling 34,789 shares during the period. Vest Financial LLC’s holdings in McCormick & Company, Incorporated were worth $52,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Analysts LLC bought a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $28,000. Wayfinding Financial LLC bought a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $30,000. Salem Investment Counselors Inc. raised its position in shares of McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after buying an additional 336 shares during the last quarter. Finally, Stonebridge Financial Group LLC raised its position in shares of McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock valued at $33,000 after buying an additional 202 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MKC. Deutsche Bank Aktiengesellschaft reduced their price target 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. Weiss Ratings restated a “hold (c)” rating on shares of McCormick & Company, Incorporated in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group reduced their price target 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. Finally, Stifel Nicolaus reduced their price target on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus price target of $78.22.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the completion of the transaction, the insider directly owned 246,762 shares of the company’s stock, valued at $16,251,745.32. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Stock Up 0.9%

NYSE MKC opened at $66.70 on Monday. 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 company has a fifty day moving average of $68.53 and a two-hundred day moving average of $72.33. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 3.86 and a beta of 0.63. McCormick & Company, Incorporated has a 52 week low of $63.66 and a 52 week high of $86.24.

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 the consensus estimate of $0.82 by $0.03. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. McCormick & Company, Incorporated’s quarterly revenue was up 2.7% compared to the same quarter last year. 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, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

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

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.