ProShare Advisors LLC Sells 196,402 Shares of McCormick & Company, Incorporated $MKC

ProShare Advisors LLC decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,112,314 shares of the company’s stock after selling 196,402 shares during the quarter. ProShare Advisors LLC owned approximately 0.79% of McCormick & Company, Incorporated worth $160,156,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MKC. Bank of Jackson Hole Trust bought a new position in shares of McCormick & Company, Incorporated in the 2nd quarter worth about $25,000. Capital Analysts LLC acquired a new stake in McCormick & Company, Incorporated during the first quarter worth approximately $26,000. Zions Bancorporation National Association UT bought a new position in McCormick & Company, Incorporated during the first quarter worth $28,000. Curio Wealth LLC increased its stake in 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. Finally, GHP Investment Advisors Inc. raised its holdings in shares of McCormick & Company, Incorporated by 132.0% during the second quarter. GHP Investment Advisors Inc. now owns 464 shares of the company’s stock valued at $35,000 after purchasing an additional 264 shares during the period. 79.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Barclays lowered 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 note 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. JPMorgan Chase & Co. lowered their price objective on 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, Deutsche Bank Aktiengesellschaft reduced their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $78.22.

Insider Activity

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 shares were 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 of the company’s stock, valued at $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.6%

NYSE MKC opened at $65.05 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 $63.15 and a 12 month high of $86.24. The stock’s 50 day moving average is $66.79 and its 200 day moving average is $70.76. The stock has a market cap of $17.46 billion, a PE ratio of 22.51, a P/E/G ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 7th. The company reported $0.85 EPS 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 firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The company’s quarterly revenue 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 predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.8%. McCormick & Company, Incorporated’s dividend payout ratio 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.