Tobam Sells 14,427 Shares of McCormick & Company, Incorporated $MKC

Tobam lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 73.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,166 shares of the company’s stock after selling 14,427 shares during the quarter. Tobam’s holdings in McCormick & Company, Incorporated were worth $392,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bright Rock Capital Management LLC bought a new position in McCormick & Company, Incorporated during the second quarter worth about $7,582,000. Dupont Capital Management Corp bought a new stake in shares of McCormick & Company, Incorporated in the second quarter worth about $4,321,000. Westfield Capital Management Co. LP acquired a new stake in shares of McCormick & Company, Incorporated during the first quarter worth about $47,056,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of McCormick & Company, Incorporated by 4.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,401 shares of the company’s stock valued at $9,169,000 after purchasing an additional 4,596 shares in the last quarter. Finally, CW Advisors LLC bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $1,099,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 2.1%

McCormick & Company, Incorporated stock opened at $65.64 on Wednesday. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 3.74 and a beta of 0.61. The firm has a 50-day moving average of $66.60 and a 200-day moving average of $70.62. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. McCormick & Company, Incorporated has a one year low of $63.15 and a one year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $0.83 earnings per share. The business’s revenue 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. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. McCormick & Company, Incorporated’s payout ratio is currently 62.28%.

Wall Street Analyst Weigh In

MKC has been the topic of several research analyst reports. Barclays dropped their target price on shares of 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. JPMorgan Chase & Co. dropped their price target 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, Sanford C. Bernstein reduced their price objective on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a research 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.22.

Insider Transactions at McCormick & Company, Incorporated

In related 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 transaction of $3,293,000.00. Following the completion of the transaction, the insider owned 246,762 shares in the company, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The transaction 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.

McCormick & Company, Incorporated Company 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.