Charles Schwab Investment Management Inc. Boosts Stake in McCormick & Company, Incorporated $MKC

Charles Schwab Investment Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,556,733 shares of the company’s stock after acquiring an additional 13,670 shares during the period. Charles Schwab Investment Management Inc. owned 0.58% of McCormick & Company, Incorporated worth $118,031,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Dupont Capital Management Corp acquired a new position in McCormick & Company, Incorporated during the second quarter worth $4,321,000. Bright Rock Capital Management LLC purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth $7,582,000. Westfield Capital Management Co. LP acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $47,056,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of McCormick & Company, Incorporated by 4.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,401 shares of the company’s stock valued at $9,169,000 after purchasing an additional 4,596 shares during the period. Finally, CW Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $1,099,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In related news, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the sale, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at $7,123,225.12. This represents a 34.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the 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 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 146,158 shares of company stock valued at $9,557,324. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.4%

NYSE:MKC opened at $67.40 on Friday. McCormick & Company, Incorporated has a 52 week low of $63.15 and a 52 week high of $86.24. The stock’s fifty day moving average is $66.08 and its two-hundred day moving average is $69.93. The stock has a market capitalization of $18.09 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61. 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 (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) 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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be given a dividend of $0.48 per share. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is currently 66.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stifel Nicolaus reduced their target price on shares of 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. Deutsche Bank Aktiengesellschaft decreased their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Barclays cut their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Sanford C. Bernstein decreased 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. Finally, JPMorgan Chase & Co. cut their price objective on 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. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $78.22.

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.