Prosperity Consulting Group LLC Grows Stock Holdings in McCormick & Company, Incorporated $MKC

Prosperity Consulting Group LLC raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 34.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,855 shares of the company’s stock after purchasing an additional 9,954 shares during the period. Prosperity Consulting Group LLC’s holdings in McCormick & Company, Incorporated were worth $2,946,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Analysts LLC purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $26,000. Bank of Jackson Hole Trust purchased a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at about $25,000. Zions Bancorporation National Association UT purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $28,000. Wayfinding Financial LLC purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $30,000. Finally, Curio Wealth LLC lifted its holdings in shares of McCormick & Company, Incorporated by 39,900.0% in the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock valued at $30,000 after purchasing an additional 399 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the completion of the transaction, the insider owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Stifel Nicolaus reduced their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Jefferies Financial Group reduced their price objective on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, UBS Group reduced their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research note 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.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $63.92 on Tuesday. McCormick & Company, Incorporated has a one year low of $63.15 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The company has a 50 day moving average price of $67.27 and a 200 day moving average price of $71.07. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 3.74 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results 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 firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. McCormick & Company, Incorporated’s revenue for the quarter was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Sell-side analysts anticipate 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. Investors of record on Tuesday, October 14th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $1.80 annualized dividend and a yield of 2.8%. McCormick & Company, Incorporated’s dividend 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.