Apollon Wealth Management LLC Invests $216,000 in McCormick & Company, Incorporated $MKC

Apollon Wealth Management LLC acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, Holdings Channel reports. The fund acquired 2,848 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds have also modified their holdings of the company. IFM Investors Pty Ltd raised its holdings in shares of McCormick & Company, Incorporated by 13.3% during the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock worth $4,091,000 after acquiring an additional 5,829 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $260,000. Stratos Wealth Partners LTD. raised its holdings in shares of McCormick & Company, Incorporated by 5.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock worth $7,267,000 after acquiring an additional 4,771 shares in the last quarter. Retirement Guys Formula LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $988,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of McCormick & Company, Incorporated by 10.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company’s stock worth $3,464,000 after acquiring an additional 3,877 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $67.58 on Monday. The stock’s fifty day moving average is $68.15 and its two-hundred day moving average is $71.79. The company has a market capitalization of $18.14 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 3.91 and a beta of 0.63. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 52 week low of $63.66 and a 52 week high of $86.24.

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 the consensus estimate of $0.82 by $0.03. The company had revenue of $1.72 billion for 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%.McCormick & Company, Incorporated’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is 62.28%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MKC. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Jefferies Financial Group cut their target price on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price 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. Sanford C. Bernstein cut their target price on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on 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. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $78.22.

About McCormick & Company, Incorporated

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.