Elmwood Wealth Management Inc. Trims Stock Position in McCormick & Company, Incorporated $MKC

Elmwood Wealth Management Inc. lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,419 shares of the company’s stock after selling 209 shares during the period. Elmwood Wealth Management Inc.’s holdings in McCormick & Company, Incorporated were worth $790,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Analysts LLC purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $28,000. Wayfinding Financial LLC purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $30,000. Stonebridge Financial Group LLC lifted its holdings in shares of McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares in the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at about $43,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $65.44 on Tuesday. 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 market cap of $17.56 billion, a P/E ratio of 22.64, a P/E/G ratio of 3.86 and a beta of 0.63. McCormick & Company, Incorporated has a fifty-two week low of $63.66 and a fifty-two week high of $86.24. The firm’s 50 day moving average is $68.44 and its two-hundred day moving average is $72.22.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.8%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 62.28%.

Analysts Set New Price Targets

Several analysts have issued reports on MKC shares. UBS Group reduced 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 report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective 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. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group reduced their price objective on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Finally, Barclays reduced their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research note 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 stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $78.22.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 246,762 shares of the company’s stock, valued at $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

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.