Koshinski Asset Management Inc. Grows Holdings in McCormick & Company, Incorporated $MKC

Koshinski Asset Management Inc. grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 22.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,332 shares of the company’s stock after buying an additional 1,896 shares during the period. Koshinski Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MKC. Capital Analysts LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $28,000. Wayfinding Financial LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $30,000. Stonebridge Financial Group LLC boosted its stake in shares of McCormick & Company, Incorporated by 101.0% in the 1st 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 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. UBS Group lowered their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Barclays lowered their price target on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein lowered their price target on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus price target of $78.22.

McCormick & Company, Incorporated Stock Up 1.5%

Shares of NYSE MKC opened at $67.58 on Monday. 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 $18.14 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 3.91 and a beta of 0.63. The firm has a fifty day simple moving average of $68.15 and a two-hundred day simple moving average of $71.79.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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. 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 during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $0.83 EPS. The company’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. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

Insider Buying and Selling

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

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.