McCormick & Company, Incorporated $MKC Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 12.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,800 shares of the company’s stock after buying an additional 3,300 shares during the quarter. Alberta Investment Management Corp’s holdings in McCormick & Company, Incorporated were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MKC. Cetera Investment Advisers boosted its stake in shares of McCormick & Company, Incorporated by 11.0% during the 2nd quarter. Cetera Investment Advisers now owns 36,904 shares of the company’s stock worth $2,798,000 after acquiring an additional 3,661 shares in the last quarter. Creative Planning boosted its holdings in shares of McCormick & Company, Incorporated by 25.3% in the 2nd quarter. Creative Planning now owns 91,841 shares of the company’s stock valued at $6,963,000 after purchasing an additional 18,569 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of McCormick & Company, Incorporated by 85.5% during the 2nd quarter. SG Americas Securities LLC now owns 51,177 shares of the company’s stock valued at $3,880,000 after buying an additional 23,585 shares during the period. OmniStar Financial Group Inc. boosted its holdings in McCormick & Company, Incorporated by 14.4% in the second quarter. OmniStar Financial Group Inc. now owns 20,184 shares of the company’s stock valued at $1,530,000 after acquiring an additional 2,533 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in McCormick & Company, Incorporated by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,972 shares of the company’s stock worth $4,699,000 after acquiring an additional 4,224 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MKC shares. UBS Group lowered their price objective on 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 target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. 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. Jefferies Financial Group lowered their price objective on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Finally, Stifel Nicolaus lowered their price target on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Four 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 currently has an average rating of “Hold” and a consensus price target of $78.22.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated 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 directly owned 246,762 shares in the company, valued at $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $3,746,360.64. Following the transaction, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 146,158 shares of company stock worth $9,557,324 in the last ninety days. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.1%

MKC opened at $65.34 on Monday. The firm has a market cap of $17.54 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The business has a 50 day moving average price of $66.33 and a 200 day moving average price of $70.41. McCormick & Company, Incorporated has a twelve month low of $63.15 and a twelve month high of $86.24.

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

McCormick & Company, Incorporated Dividend Announcement

The business 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 dividend yield of 2.8%. McCormick & Company, Incorporated’s payout ratio is 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.