McCormick & Company, Incorporated $MKC Shares Bought by Delaney Dennis R

Delaney Dennis R boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,335 shares of the company’s stock after buying an additional 2,640 shares during the period. McCormick & Company, Incorporated accounts for approximately 1.3% of Delaney Dennis R’s portfolio, making the stock its 29th biggest holding. Delaney Dennis R’s holdings in McCormick & Company, Incorporated were worth $2,603,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MKC. Alyeska Investment Group L.P. increased its position 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 buying an additional 1,467,254 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of McCormick & Company, Incorporated by 28.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after purchasing an additional 920,618 shares during the period. Alecta Tjanstepension Omsesidigt increased its holdings in shares of 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. Nuveen LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $55,643,000. Finally, Westfield Capital Management Co. LP acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $47,056,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.9%

McCormick & Company, Incorporated stock opened at $66.70 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. McCormick & Company, Incorporated has a 1-year low of $63.66 and a 1-year high of $86.24. The company has a market cap of $17.90 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 3.86 and a beta of 0.63. The stock’s 50 day moving average price is $68.53 and its 200 day moving average price is $72.33.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The company’s revenue for the quarter 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. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup dropped their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, June 17th. Weiss Ratings reissued a “hold (c)” rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. Barclays dropped their target price 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. Jefferies Financial Group dropped their target price on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Finally, UBS Group dropped their target price on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $78.22.

Insider Buying and Selling

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 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 approximately $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 Securities & Exchange Commission, which can be accessed through this link. 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.