McCormick & Company, Incorporated $MKC Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,594,687 shares of the company’s stock after selling 127,861 shares during the period. Legal & General Group Plc’s holdings in McCormick & Company, Incorporated were worth $120,909,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MKC. Bank of Jackson Hole Trust purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $25,000. Capital Analysts LLC purchased a new position in McCormick & Company, Incorporated during the 1st quarter valued at about $26,000. Zions Bancorporation National Association UT acquired a new position in McCormick & Company, Incorporated in the 1st quarter valued at about $28,000. Curio Wealth LLC increased its stake in McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after purchasing an additional 399 shares during the period. Finally, MTM Investment Management LLC purchased a new stake in McCormick & Company, Incorporated during the second quarter worth about $30,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MKC. Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. UBS Group dropped their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus reduced their price objective on 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. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus price target of $78.22.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 246,762 shares in the company, valued at $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brendan M. Foley sold 57,144 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total value of $3,746,360.64. Following the sale, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at $7,123,225.12. This trade represents a 34.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 146,158 shares of company stock worth $9,557,324 in the last three months. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 1.8%

Shares of NYSE:MKC opened at $66.95 on Tuesday. McCormick & Company, Incorporated has a fifty-two week low of $63.15 and a fifty-two week high of $86.24. The firm’s 50 day moving average price is $66.05 and its 200 day moving average price is $70.03. 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 stock has a market cap of $17.97 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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 company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $0.83 EPS. The firm’s 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. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.9%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is currently 66.44%.

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.