D.A. Davidson & CO. Grows Position in McCormick & Company, Incorporated $MKC

D.A. Davidson & CO. raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,041 shares of the company’s stock after purchasing an additional 567 shares during the quarter. D.A. Davidson & CO.’s holdings in McCormick & Company, Incorporated were worth $1,747,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. EagleClaw Capital Managment LLC lifted its holdings in McCormick & Company, Incorporated by 0.4% during the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock valued at $3,018,000 after purchasing an additional 135 shares during the last quarter. Raab & Moskowitz Asset Management LLC lifted its position in shares of McCormick & Company, Incorporated by 5.0% during the first quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company’s stock worth $289,000 after acquiring an additional 167 shares in the last quarter. Horizon Investments LLC lifted its position in shares of McCormick & Company, Incorporated by 5.0% during the first quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock worth $296,000 after acquiring an additional 173 shares in the last quarter. ORG Partners LLC lifted its position in shares of McCormick & Company, Incorporated by 13.2% during the second quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock worth $115,000 after acquiring an additional 173 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC lifted its position in shares of McCormick & Company, Incorporated by 1.0% during the second quarter. Nicholson Wealth Management Group LLC now owns 19,127 shares of the company’s stock worth $1,450,000 after acquiring an additional 181 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated 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 transaction, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. 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 research report on Wednesday, October 8th. Barclays dropped their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price 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. Finally, Jefferies Financial Group dropped their target price 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. Four 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, the company currently has an average rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Trading Down 0.8%

NYSE MKC opened at $66.86 on Monday. The stock’s 50-day simple moving average is $67.91 and its two-hundred day simple moving average is $71.56. McCormick & Company, Incorporated has a twelve month low of $63.66 and a twelve month high of $86.24. 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 capitalization of $17.94 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.91 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the business posted $0.83 earnings per share. 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. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company 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 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 2.7%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 62.28%.

McCormick & Company, Incorporated 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.