McCormick & Company, Incorporated $MKC Shares Sold by Wambolt & Associates LLC

Wambolt & Associates LLC lowered its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,288 shares of the company’s stock after selling 1,908 shares during the period. Wambolt & Associates LLC’s holdings in McCormick & Company, Incorporated were worth $1,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Analysts LLC bought a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at about $26,000. Bank of Jackson Hole Trust acquired a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $25,000. Zions Bancorporation National Association UT acquired a new position in McCormick & Company, Incorporated during the 1st quarter valued at about $28,000. Anfield Capital Management LLC raised its position in shares of McCormick & Company, Incorporated by 161.3% during the 2nd quarter. Anfield Capital Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 242 shares in the last quarter. Finally, Curio Wealth LLC lifted its stake in shares of McCormick & Company, Incorporated by 39,900.0% in the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after acquiring an additional 399 shares during the period. Institutional investors own 79.74% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In other 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 shares were 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. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the sale, the chief executive officer owned 108,652 shares in the company, valued at $7,123,225.12. This represents a 34.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,158 shares of company stock worth $9,557,324 in the last three months. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Trading Up 0.3%

McCormick & Company, Incorporated stock opened at $67.12 on Wednesday. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61. McCormick & Company, Incorporated has a 1 year low of $63.15 and a 1 year high of $86.24. The firm’s 50 day moving average price is $66.05 and its two-hundred day moving average price is $69.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be given a $0.48 dividend. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, December 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.9%. McCormick & Company, Incorporated’s dividend payout ratio is 66.44%.

Analyst Ratings Changes

Several research firms have recently issued reports on MKC. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. UBS Group decreased their price target on 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. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Barclays dropped their price objective 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. Finally, Jefferies Financial Group decreased their target price on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research note 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, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $78.22.

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.