RFG Advisory LLC Has $1.93 Million Stock Position in McCormick & Company, Incorporated $MKC

RFG Advisory LLC lowered its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,452 shares of the company’s stock after selling 521 shares during the period. RFG Advisory LLC’s holdings in McCormick & Company, Incorporated were worth $1,930,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. grew its stake in McCormick & Company, Incorporated by 1,360.5% in the first quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock valued at $129,647,000 after acquiring an additional 1,467,254 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in McCormick & Company, Incorporated by 28.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after acquiring an additional 920,618 shares during the period. Alecta Tjanstepension Omsesidigt grew its stake in McCormick & Company, Incorporated by 94.7% in the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after acquiring an additional 865,500 shares during the period. Nuveen LLC acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $55,643,000. Finally, Westfield Capital Management Co. LP acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $47,056,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Stifel Nicolaus reduced their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday. Deutsche Bank Aktiengesellschaft dropped their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Jefferies Financial Group dropped their price target on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Finally, Barclays dropped their price target on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $78.22.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the completion of the transaction, the insider directly owned 246,762 shares in the company, valued at approximately $16,251,745.32. The trade was a 16.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $65.23 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. The business has a fifty day simple moving average of $68.27 and a two-hundred day simple moving average of $72.12. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24. The company has a market capitalization of $17.50 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.81 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last released its 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. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business posted $0.83 earnings per share. The business’s revenue for the quarter 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. On average, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share 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. Stockholders of record on Tuesday, October 14th will be given a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.8%. McCormick & Company, Incorporated’s payout ratio is 62.28%.

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.