Chicago Partners Investment Group LLC Lowers Position in McCormick & Company, Incorporated $MKC

Chicago Partners Investment Group LLC lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 13.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,352 shares of the company’s stock after selling 535 shares during the period. Chicago Partners Investment Group LLC’s holdings in McCormick & Company, Incorporated were worth $243,000 at the end of the most recent reporting period.

Other institutional investors and 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 valued at about $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $28,000. Wayfinding Financial LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $30,000. Stonebridge Financial Group LLC raised its holdings 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 acquiring an additional 202 shares in the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MKC shares. JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Stifel Nicolaus dropped their price target on 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. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. 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 research report on Wednesday, October 8th. Finally, Sanford C. Bernstein dropped their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a research report 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $66.86 on Friday. The company has a market capitalization of $17.94 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.94 and a beta of 0.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. McCormick & Company, Incorporated has a one year low of $63.66 and a one year high of $86.24. The stock has a 50-day moving average of $67.91 and a 200 day moving average of $71.59.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.McCormick & Company, Incorporated’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, sell-side analysts forecast 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 given a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.28%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 23.80% of the stock is currently owned by insiders.

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.