Oppenheimer Asset Management Inc. Acquires 1,930 Shares of McCormick & Company, Incorporated $MKC

Oppenheimer Asset Management Inc. lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 34.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,605 shares of the company’s stock after acquiring an additional 1,930 shares during the period. Oppenheimer Asset Management Inc.’s holdings in McCormick & Company, Incorporated were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AG2R LA Mondiale Gestion D Actifs lifted its stake in McCormick & Company, Incorporated by 14.2% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 13,155 shares of the company’s stock valued at $997,000 after purchasing an additional 1,634 shares during the last quarter. Curio Wealth LLC increased its position in shares of McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 399 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of McCormick & Company, Incorporated by 2.9% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 643,242 shares of the company’s stock worth $48,771,000 after buying an additional 18,289 shares during the period. Asset Management One Co. Ltd. increased its position in shares of McCormick & Company, Incorporated by 3.4% during the second quarter. Asset Management One Co. Ltd. now owns 146,002 shares of the company’s stock worth $11,070,000 after buying an additional 4,829 shares during the period. Finally, Forum Financial Management LP grew its holdings in McCormick & Company, Incorporated by 13.6% in the second quarter. Forum Financial Management LP now owns 5,192 shares of the company’s stock worth $394,000 after purchasing an additional 623 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $64.15 on Friday. McCormick & Company, Incorporated has a 52-week low of $63.15 and a 52-week high of $86.24. The stock has a market capitalization of $17.22 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 3.74 and a beta of 0.63. The company has a fifty day moving average of $67.40 and a 200-day moving average of $71.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total value of $3,293,000.00. Following the completion of the transaction, the insider directly owned 246,762 shares in the company, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MKC. Barclays dropped their price objective on shares of 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. 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. JPMorgan Chase & Co. lowered their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Finally, Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated 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.