OLD National Bancorp IN Trims Holdings in McCormick & Company, Incorporated $MKC

OLD National Bancorp IN decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 22.3% in the 2nd quarter, Holdings Channel reports. The firm owned 4,324 shares of the company’s stock after selling 1,244 shares during the period. OLD National Bancorp IN’s holdings in McCormick & Company, Incorporated were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Boston Common Asset Management LLC raised its position in McCormick & Company, Incorporated by 1.8% in the 2nd quarter. Boston Common Asset Management LLC now owns 66,156 shares of the company’s stock valued at $5,016,000 after purchasing an additional 1,183 shares during the last quarter. Elevate Capital Advisors LLC raised its position in McCormick & Company, Incorporated by 44.9% in the 2nd quarter. Elevate Capital Advisors LLC now owns 24,020 shares of the company’s stock valued at $1,821,000 after purchasing an additional 7,442 shares during the last quarter. Ameriflex Group Inc. raised its position in McCormick & Company, Incorporated by 115.0% in the 2nd quarter. Ameriflex Group Inc. now owns 920 shares of the company’s stock valued at $71,000 after purchasing an additional 492 shares during the last quarter. QRG Capital Management Inc. raised its position in McCormick & Company, Incorporated by 2.8% in the 2nd quarter. QRG Capital Management Inc. now owns 20,275 shares of the company’s stock valued at $1,537,000 after purchasing an additional 557 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $119,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 3.8%

Shares of McCormick & Company, Incorporated stock opened at $65.71 on Wednesday. The company has a market cap of $17.63 billion, a P/E ratio of 22.82, a PEG ratio of 3.39 and a beta of 0.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. McCormick & Company, Incorporated has a one year low of $63.66 and a one year high of $86.24. The firm has a fifty day moving average of $68.81 and a two-hundred day moving average of $72.69.

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, topping analysts’ consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company posted $0.83 EPS. The business’s revenue for the quarter 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. On average, analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend 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 62.50%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. UBS Group reduced their price target on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Citigroup cut their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, June 17th. Jefferies Financial Group cut their price objective on shares of McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Finally, Stifel Nicolaus cut their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $80.29.

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.