AG2R LA Mondiale Gestion D Actifs Increases Holdings in McCormick & Company, Incorporated $MKC

AG2R LA Mondiale Gestion D Actifs grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 14.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,155 shares of the company’s stock after buying an additional 1,634 shares during the period. AG2R LA Mondiale Gestion D Actifs’ holdings in McCormick & Company, Incorporated were worth $997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the company. Curio Wealth LLC lifted its holdings 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 valued at $30,000 after purchasing an additional 399 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 2.9% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 643,242 shares of the company’s stock valued at $48,771,000 after purchasing an additional 18,289 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of McCormick & Company, Incorporated by 3.4% in the 2nd quarter. Asset Management One Co. Ltd. now owns 146,002 shares of the company’s stock valued at $11,070,000 after purchasing an additional 4,829 shares during the last quarter. Forum Financial Management LP lifted its holdings in shares of McCormick & Company, Incorporated by 13.6% in the 2nd quarter. Forum Financial Management LP now owns 5,192 shares of the company’s stock valued at $394,000 after purchasing an additional 623 shares during the last quarter. Finally, Ethic Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 1.0% in the 2nd quarter. Ethic Inc. now owns 71,763 shares of the company’s stock valued at $5,476,000 after purchasing an additional 734 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft reduced their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Stifel Nicolaus reduced their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group reduced their price objective 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 research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $66.86 on Monday. The company has a market cap of $17.94 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 3.91 and a beta of 0.63. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $67.91 and a 200-day simple moving average of $71.56. McCormick & Company, Incorporated has a 12-month low of $63.66 and a 12-month 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, topping analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations 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 revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

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 issued a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. McCormick & Company, Incorporated’s dividend 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 the company’s stock in a transaction that occurred 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 owned 246,762 shares in the company, valued at $16,251,745.32. This represents a 16.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

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.