Ingalls & Snyder LLC Sells 200 Shares of McCormick & Company, Incorporated $MKC

Ingalls & Snyder LLC cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,304 shares of the company’s stock after selling 200 shares during the quarter. Ingalls & Snyder LLC’s holdings in McCormick & Company, Incorporated were worth $402,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. IFM Investors Pty Ltd grew its position in 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 during the last quarter. Stratos Wealth Partners LTD. grew its position in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in 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 during the last quarter. Envestnet Asset Management Inc. grew its position in McCormick & Company, Incorporated by 3.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 621,806 shares of the company’s stock worth $51,181,000 after acquiring an additional 18,820 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in McCormick & Company, Incorporated by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 325,802 shares of the company’s stock worth $26,817,000 after acquiring an additional 18,133 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $66.86 on Monday. The firm has a market cap of $17.94 billion, a P/E ratio of 23.13, a P/E/G ratio of 3.91 and a beta of 0.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The business’s 50 day moving average price is $67.91 and its 200-day moving average price is $71.56. McCormick & Company, Incorporated has a fifty-two week low of $63.66 and a fifty-two week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company posted $0.83 earnings per share. 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. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given a dividend of $0.45 per share. The ex-dividend date is 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%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related 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 stock was sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the sale, the insider directly owned 246,762 shares in the company, valued at $16,251,745.32. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays reduced their price target on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. UBS Group reduced their price target on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut their price objective 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. 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, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus price target 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.