Bartlett & CO. Wealth Management LLC Grows Stock Position in McCormick & Company, Incorporated $MKC

Bartlett & CO. Wealth Management LLC grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 605,149 shares of the company’s stock after acquiring an additional 15,444 shares during the quarter. Bartlett & CO. Wealth Management LLC owned 0.23% of McCormick & Company, Incorporated worth $40,491,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MKC. Capital Analysts LLC acquired a new stake in McCormick & Company, Incorporated in the 1st quarter worth approximately $26,000. Bank of Jackson Hole Trust purchased a new position in shares of McCormick & Company, Incorporated in the second quarter worth $25,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter worth $27,000. Anfield Capital Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 161.3% during the second quarter. Anfield Capital Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 242 shares during the last quarter. Finally, Curio Wealth LLC increased its position in shares of McCormick & Company, Incorporated by 39,900.0% in the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock valued at $30,000 after acquiring an additional 399 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Activity

In related news, CEO Brendan M. Foley sold 57,144 shares of the company’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 completion of the transaction, the chief executive officer owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. This represents a 34.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total value of $2,517,963.56. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 146,158 shares of company stock worth $9,557,324. Corporate insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

MKC has been the subject of a number of research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $87.00 price target on shares of McCormick & Company, Incorporated in a research report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday, December 15th. Barclays dropped 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. JPMorgan Chase & Co. reduced 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 report on Thursday, September 25th. Finally, Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.00.

McCormick & Company, Incorporated Stock Up 0.3%

McCormick & Company, Incorporated stock opened at $68.64 on Friday. The business’s 50-day moving average price is $66.01 and its 200 day moving average price is $69.14. 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 firm has a market cap of $18.42 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 4.53 and a beta of 0.62. McCormick & Company, Incorporated has a 52 week low of $62.64 and a 52 week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm posted $0.83 EPS. The business’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. As a group, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

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

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.