Yousif Capital Management LLC Increases Stock Position in McCormick & Company, Incorporated $MKC

Yousif Capital Management LLC lifted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 4.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 126,433 shares of the company’s stock after purchasing an additional 5,642 shares during the period. Yousif Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $9,586,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Capital Analysts LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth approximately $26,000. Zions Bancorporation National Association UT purchased a new stake in McCormick & Company, Incorporated during the first quarter valued at approximately $28,000. Wayfinding Financial LLC purchased a new stake in McCormick & Company, Incorporated during the first quarter valued at approximately $30,000. Stonebridge Financial Group LLC lifted its position in 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 acquiring an additional 202 shares during the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new stake in McCormick & Company, Incorporated during the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group decreased their target price on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Citigroup decreased their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, June 17th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group decreased their target price on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein decreased their target price 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 research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.22.

Insider Transactions at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction 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 sale, the insider owned 246,762 shares in the company, valued at $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Trading Down 1.8%

Shares of McCormick & Company, Incorporated stock opened at $65.44 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 12-month low of $63.66 and a 12-month high of $86.24. The firm has a market capitalization of $17.56 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 3.86 and a beta of 0.63. The firm’s 50 day simple moving average is $68.44 and its two-hundred day simple moving average is $72.22.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted $0.83 EPS. McCormick & Company, Incorporated’s revenue for the quarter was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Analysts predict 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 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 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.