Stephens Inc. AR Sells 3,155 Shares of McCormick & Company, Incorporated $MKC

Stephens Inc. AR reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 29.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,527 shares of the company’s stock after selling 3,155 shares during the period. Stephens Inc. AR’s holdings in McCormick & Company, Incorporated were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. EagleClaw Capital Managment LLC grew 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 worth $3,018,000 after purchasing an additional 135 shares during the last quarter. Raab & Moskowitz Asset Management LLC grew 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 worth $289,000 after purchasing an additional 167 shares during the last quarter. Horizon Investments LLC grew 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 worth $296,000 after purchasing an additional 173 shares during the last quarter. ORG Partners LLC grew 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 worth $115,000 after purchasing an additional 173 shares during the last quarter. Finally, Nicholson Wealth Management Group LLC grew 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 worth $1,450,000 after purchasing an additional 181 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the transaction, the insider directly owned 246,762 shares of the company’s stock, valued at $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on MKC. Deutsche Bank Aktiengesellschaft cut their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Sanford C. Bernstein cut their price objective 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. JPMorgan Chase & Co. cut 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. Finally, Jefferies Financial Group cut their price objective on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $66.86 on Friday. 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 has a twelve month low of $63.66 and a twelve month high of $86.24. The stock’s 50 day moving average is $67.91 and its 200-day moving average is $71.59. The firm has a market capitalization of $17.94 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 3.91 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its 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 return on equity of 14.30% and a net margin of 11.46%.The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. McCormick & Company, Incorporated’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. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.28%.

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.