IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 788 Shares of McCormick & Company, Incorporated $MKC

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its stake in McCormick & Company, Incorporated (NYSE:MKC) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,026 shares of the company’s stock after selling 788 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in McCormick & Company, Incorporated were worth $1,367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in McCormick & Company, Incorporated by 26.3% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 39,844 shares of the company’s stock worth $3,021,000 after purchasing an additional 8,300 shares during the period. AustralianSuper Pty Ltd bought a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $540,000. Teacher Retirement System of Texas boosted its stake in McCormick & Company, Incorporated by 13.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 117,925 shares of the company’s stock worth $8,941,000 after purchasing an additional 13,781 shares during the period. Transcend Capital Advisors LLC bought a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $211,000. Finally, Envestnet Asset Management Inc. boosted its stake in McCormick & Company, Incorporated by 36.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 849,468 shares of the company’s stock worth $64,407,000 after purchasing an additional 227,662 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the subject of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Stifel Nicolaus lowered their price target on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. UBS Group lowered their price target on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Barclays lowered 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. Finally, Sanford C. Bernstein lowered their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $78.22.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred 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 transaction, the insider directly owned 246,762 shares of the company’s stock, valued at $16,251,745.32. The trade was a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $66.00 on Wednesday. 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’s 50 day simple moving average is $67.82 and its two-hundred day simple moving average is $71.43. The stock has a market capitalization of $17.71 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 3.93 and a beta of 0.63. McCormick & Company, Incorporated has a one year low of $63.66 and a one year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.72 billion for 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%.The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, October 14th. McCormick & Company, Incorporated’s payout ratio is 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.