Reik & CO. LLC Lowers Position in McCormick & Company, Incorporated $MKC

Reik & CO. LLC lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.9% during the second quarter, Holdings Channel reports. The institutional investor owned 448,594 shares of the company’s stock after selling 8,591 shares during the quarter. McCormick & Company, Incorporated comprises approximately 8.5% of Reik & CO. LLC’s investment portfolio, making the stock its 5th largest holding. Reik & CO. LLC’s holdings in McCormick & Company, Incorporated were worth $34,012,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Midwest Trust Co acquired a new stake in McCormick & Company, Incorporated in the second quarter valued at approximately $8,414,000. DJE Kapital AG increased its position in shares of McCormick & Company, Incorporated by 12.1% during the second quarter. DJE Kapital AG now owns 62,900 shares of the company’s stock worth $4,831,000 after purchasing an additional 6,800 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 147.9% during the 2nd quarter. Acadian Asset Management LLC now owns 30,451 shares of the company’s stock valued at $2,307,000 after purchasing an additional 18,166 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of McCormick & Company, Incorporated by 7.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 550,337 shares of the company’s stock worth $41,727,000 after purchasing an additional 37,864 shares in the last quarter. Finally, Aviva PLC boosted its position in shares of McCormick & Company, Incorporated by 6.8% in the 2nd quarter. Aviva PLC now owns 240,290 shares of the company’s stock worth $18,219,000 after purchasing an additional 15,273 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $65.05 on Friday. McCormick & Company, Incorporated has a 52-week low of $63.15 and a 52-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. The stock has a market cap of $17.46 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61. The business has a 50-day simple moving average of $66.79 and a 200-day simple moving average of $70.80.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results 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 company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $0.83 earnings per share. 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. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Tuesday, October 14th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, October 14th. McCormick & Company, Incorporated’s payout ratio is currently 62.28%.

Insider Transactions at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’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 sale, the insider owned 246,762 shares in the company, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays reduced their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. UBS Group dropped their price target on 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. Sanford C. Bernstein cut 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. JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $78.22.

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.