Prudential PLC Has $1.09 Million Stock Position in McCormick & Company, Incorporated $MKC

Prudential PLC lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 81.4% in the second quarter, Holdings Channel reports. The institutional investor owned 14,363 shares of the company’s stock after selling 63,021 shares during the period. Prudential PLC’s holdings in McCormick & Company, Incorporated were worth $1,089,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. TD Asset Management Inc raised its holdings in shares of McCormick & Company, Incorporated by 23.7% in the 1st quarter. TD Asset Management Inc now owns 421,727 shares of the company’s stock worth $34,712,000 after buying an additional 80,779 shares in the last quarter. Empirical Finance LLC grew its holdings in shares of McCormick & Company, Incorporated by 3.8% during the first quarter. Empirical Finance LLC now owns 8,819 shares of the company’s stock worth $726,000 after purchasing an additional 326 shares during the last quarter. Providence Wealth Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at $337,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of McCormick & Company, Incorporated by 4.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,401 shares of the company’s stock valued at $9,169,000 after buying an additional 4,596 shares in the last quarter. Finally, Portland Global Advisors LLC raised its stake in shares of McCormick & Company, Incorporated by 0.9% in the first quarter. Portland Global Advisors LLC now owns 52,593 shares of the company’s stock worth $4,329,000 after acquiring an additional 454 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. UBS Group lowered their target price on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on 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 dropped their price objective on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” 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 issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $78.22.

McCormick & Company, Incorporated Stock Performance

MKC opened at $68.12 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. The business has a fifty day simple moving average of $66.03 and a 200 day simple moving average of $70.10. McCormick & Company, Incorporated has a 1 year low of $63.15 and a 1 year high of $86.24. The company has a market capitalization of $18.28 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data 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 firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm earned $0.83 EPS. The company’s quarterly 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. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.8%. The ex-dividend date 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 (DPR) is 66.44%.

Insider Activity

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total transaction of $2,517,963.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 108,652 shares in the company, valued at $7,123,225.12. This trade represents a 34.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 146,158 shares of company stock worth $9,557,324. 23.80% of the stock is owned by corporate insiders.

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.