McCormick & Company, Incorporated $MKC Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 136,992 shares of the company’s stock after selling 8,592 shares during the period. Bath Savings Trust Co owned 0.05% of McCormick & Company, Incorporated worth $9,166,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in McCormick & Company, Incorporated by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,427,901 shares of the company’s stock valued at $2,458,683,000 after purchasing an additional 553,862 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of McCormick & Company, Incorporated by 2.1% in the second quarter. Geode Capital Management LLC now owns 6,375,983 shares of the company’s stock worth $481,354,000 after buying an additional 133,800 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of McCormick & Company, Incorporated by 28.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after purchasing an additional 920,618 shares in the last quarter. Invesco Ltd. raised its stake in McCormick & Company, Incorporated by 44.9% during the second quarter. Invesco Ltd. now owns 3,737,793 shares of the company’s stock valued at $283,399,000 after buying an additional 1,158,423 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at approximately $249,087,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Transactions at McCormick & Company, Incorporated

In related news, CEO Brendan M. Foley sold 57,144 shares of McCormick & Company, Incorporated stock in a transaction 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 $7,123,225.12. This trade represents a 34.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, October 8th. The stock was 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 owned 246,762 shares in the company, valued at $16,251,745.32. The trade was 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 have sold 146,158 shares of company stock worth $9,557,324. 23.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of recent research reports. Jefferies Financial Group cut their target price on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Monday. Stifel Nicolaus lowered their price target on 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. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, UBS Group cut their target price on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $78.00.

McCormick & Company, Incorporated Stock Down 0.3%

MKC stock opened at $68.45 on Friday. The company has a market cap of $18.37 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 4.54 and a beta of 0.62. McCormick & Company, Incorporated has a 12-month low of $62.64 and a 12-month high of $86.24. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $65.97 and a two-hundred day moving average of $69.17.

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

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be issued a $0.48 dividend. 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%. The ex-dividend date is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is currently 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.