Keybank National Association OH Decreases Holdings in McCormick & Company, Incorporated $MKC

Keybank National Association OH cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 127,109 shares of the company’s stock after selling 2,689 shares during the quarter. Keybank National Association OH’s holdings in McCormick & Company, Incorporated were worth $9,637,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of Jackson Hole Trust purchased a new position in shares of McCormick & Company, Incorporated during the second quarter worth approximately $25,000. Capital Analysts LLC purchased a new position in shares of McCormick & Company, Incorporated during the first quarter worth approximately $26,000. Zions Bancorporation National Association UT purchased a new position in shares of McCormick & Company, Incorporated during the first quarter worth approximately $28,000. Wayfinding Financial LLC purchased a new position in shares of McCormick & Company, Incorporated during the first quarter worth approximately $30,000. Finally, Curio Wealth LLC raised its stake in shares of McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after acquiring an additional 399 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays decreased their price target on shares of 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. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. JPMorgan Chase & Co. decreased their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. 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 note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $78.22.

McCormick & Company, Incorporated Stock Up 0.1%

Shares of McCormick & Company, Incorporated stock opened at $64.15 on Friday. 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 company’s fifty day simple moving average is $67.40 and its two-hundred day simple moving average is $71.20. The company has a market cap of $17.22 billion, a P/E ratio of 22.20, a PEG ratio of 3.74 and a beta of 0.63. McCormick & Company, Incorporated has a 12-month low of $63.15 and a 12-month high of $86.24.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, October 14th. McCormick & Company, Incorporated’s payout ratio is presently 62.28%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the transaction, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. The trade was a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.80% of the company’s stock.

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.