McCormick & Company, Incorporated $MKC Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 496,100 shares of the company’s stock after purchasing an additional 28,145 shares during the quarter. Corient Private Wealth LLC owned 0.18% of McCormick & Company, Incorporated worth $37,614,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MKC. Public Sector Pension Investment Board grew its holdings in McCormick & Company, Incorporated by 9.0% during the first quarter. Public Sector Pension Investment Board now owns 34,374 shares of the company’s stock worth $2,829,000 after acquiring an additional 2,851 shares during the period. Horizon Investments LLC boosted its position in shares of McCormick & Company, Incorporated by 5.0% during the 1st quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock valued at $296,000 after purchasing an additional 173 shares in the last quarter. Northwest & Ethical Investments L.P. grew its stake in shares of McCormick & Company, Incorporated by 42.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 26,848 shares of the company’s stock worth $2,210,000 after purchasing an additional 7,938 shares during the last quarter. Korea Investment CORP raised its holdings in shares of McCormick & Company, Incorporated by 4.3% in the 1st quarter. Korea Investment CORP now owns 277,019 shares of the company’s stock worth $22,801,000 after purchasing an additional 11,342 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in McCormick & Company, Incorporated by 37.0% during the first quarter. Wellington Management Group LLP now owns 207,613 shares of the company’s stock valued at $17,089,000 after purchasing an additional 56,090 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Barclays cut their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Jefferies Financial Group decreased their price target on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Sanford C. Bernstein reissued an “outperform” rating and issued a $87.00 price target on shares of McCormick & Company, Incorporated in a research note on Thursday, December 11th. Finally, UBS Group reduced their price objective on shares of 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. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.00.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $68.33 on Wednesday. McCormick & Company, Incorporated has a 1-year low of $62.64 and a 1-year high of $86.24. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $18.34 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 4.74 and a beta of 0.62. The stock’s fifty day simple moving average is $65.86 and its 200-day simple moving average is $69.18.

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, topping 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 during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business earned $0.83 EPS. The business’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. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, December 29th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. McCormick & Company, Incorporated’s payout ratio is presently 62.28%.

Insider Buying and Selling

In other McCormick & Company, Incorporated 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 value of $3,746,360.64. Following the transaction, the chief executive officer owned 108,652 shares in the company, valued at approximately $7,123,225.12. This represents a 34.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on 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 of the company’s stock, valued at $16,251,745.32. This trade represents a 16.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 146,158 shares of company stock worth $9,557,324 over the last ninety days. 23.80% of the stock is currently owned by insiders.

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.