Savvy Advisors Inc. Acquires 1,570 Shares of McCormick & Company, Incorporated $MKC

Savvy Advisors Inc. lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 22.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,633 shares of the company’s stock after acquiring an additional 1,570 shares during the quarter. Savvy Advisors Inc.’s holdings in McCormick & Company, Incorporated were worth $655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EagleClaw Capital Managment LLC raised its holdings in shares of McCormick & Company, Incorporated by 0.4% during the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock valued at $3,018,000 after acquiring an additional 135 shares in the last quarter. Raab & Moskowitz Asset Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 5.0% during the first quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company’s stock valued at $289,000 after acquiring an additional 167 shares in the last quarter. Horizon Investments LLC raised its holdings in shares of McCormick & Company, Incorporated by 5.0% during the first quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock valued at $296,000 after acquiring an additional 173 shares in the last quarter. ORG Partners LLC raised its holdings in shares of McCormick & Company, Incorporated by 13.2% during the second quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock valued at $115,000 after acquiring an additional 173 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC raised its holdings in shares of McCormick & Company, Incorporated by 1.0% during the second quarter. Nicholson Wealth Management Group LLC now owns 19,127 shares of the company’s stock valued at $1,450,000 after acquiring an additional 181 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.1%

NYSE MKC opened at $64.15 on Friday. McCormick & Company, Incorporated has a 12 month low of $63.15 and a 12 month high of $86.24. The stock has a market cap of $17.22 billion, a P/E ratio of 22.20, a P/E/G ratio of 3.74 and a beta of 0.63. The stock’s fifty day moving average price is $67.40 and its 200-day moving average price is $71.20. The company has a current ratio of 0.71, a quick ratio of 0.29 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, topping 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 analysts’ expectations of $1.71 billion. During the same period in the prior year, the firm posted $0.83 earnings per share. The company’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. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Insider Activity at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the sale, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on MKC shares. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Barclays reduced their price target on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Sanford C. Bernstein reduced their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. UBS Group reduced 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. Finally, Stifel Nicolaus reduced their price target on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.