McCormick & Company, Incorporated $MKC Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 14.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 313,518 shares of the company’s stock after selling 54,489 shares during the quarter. Schroder Investment Management Group’s holdings in McCormick & Company, Incorporated were worth $23,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MKC. Vanguard Group Inc. lifted its holdings in McCormick & Company, Incorporated by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,427,901 shares of the company’s stock worth $2,458,683,000 after buying an additional 553,862 shares in the last quarter. Geode Capital Management LLC increased its position in shares of McCormick & Company, Incorporated by 2.1% during the second quarter. Geode Capital Management LLC now owns 6,375,983 shares of the company’s stock worth $481,354,000 after acquiring an additional 133,800 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of 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 acquiring an additional 920,618 shares during the last quarter. Norges Bank acquired a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $249,087,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in McCormick & Company, Incorporated by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,230,719 shares of the company’s stock valued at $265,920,000 after purchasing an additional 184,230 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $65.49 on Wednesday. The company has a market capitalization of $17.58 billion, a P/E ratio of 22.66, a PEG ratio of 3.74 and a beta of 0.62. The company has a 50-day simple moving average of $66.19 and a 200 day simple moving average of $69.68. McCormick & Company, Incorporated has a fifty-two week low of $63.15 and a fifty-two week high of $86.24. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company earned $0.83 EPS. McCormick & Company, Incorporated’s quarterly 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. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, December 29th. McCormick & Company, Incorporated’s payout ratio is currently 66.44%.

Insider Buying and Selling

In other news, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total value of $2,517,963.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the sale, the chief executive officer 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 position. The SEC filing for this sale provides additional information. Insiders sold 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 Ratings Changes

Several brokerages have recently commented on MKC. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. Jefferies Financial Group lowered their price objective on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. UBS Group dropped their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, Sanford C. Bernstein lowered their target price on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average 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.