9,320 Shares in McCormick & Company, Incorporated $MKC Bought by VestGen Advisors LLC

VestGen Advisors LLC acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,320 shares of the company’s stock, valued at approximately $707,000.

A number of other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth $249,087,000. Alyeska Investment Group L.P. raised its holdings in McCormick & Company, Incorporated by 1,360.5% during the first quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock worth $129,647,000 after purchasing an additional 1,467,254 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in McCormick & Company, Incorporated by 28.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock worth $340,406,000 after purchasing an additional 920,618 shares in the last quarter. Alecta Tjanstepension Omsesidigt lifted its position in McCormick & Company, Incorporated by 94.7% in the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after purchasing an additional 865,500 shares during the period. Finally, Nuveen LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter valued at approximately $55,643,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the 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 sale, the insider directly owned 246,762 shares in the company, valued at $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brendan M. Foley sold 57,144 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the transaction, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. This trade represents a 34.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 146,158 shares of company stock valued at $9,557,324 over the last 90 days. 23.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MKC shares. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. 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 report on Wednesday, October 8th. Stifel Nicolaus reduced their target price on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Sanford C. Bernstein decreased their target price on shares of 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, Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $78.22.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $65.49 on Wednesday. The stock has a fifty day moving average price of $66.19 and a 200 day moving average price of $69.68. The stock has a market cap of $17.58 billion, a PE ratio of 22.66, a P/E/G ratio of 3.74 and a beta of 0.62. McCormick & Company, Incorporated has a 1 year low of $63.15 and a 1 year high of $86.24. 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 posted its 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 quarter in the prior year, the company earned $0.83 earnings per share. McCormick & Company, Incorporated’s revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 29th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio is currently 66.44%.

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.