Generali Asset Management SPA SGR Purchases 18,809 Shares of McCormick & Company, Incorporated $MKC

Generali Asset Management SPA SGR lifted its position in McCormick & Company, Incorporated (NYSE:MKC) by 7,290.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,067 shares of the company’s stock after acquiring an additional 18,809 shares during the quarter. Generali Asset Management SPA SGR’s holdings in McCormick & Company, Incorporated were worth $1,276,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust purchased a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $25,000. Elevation Point Wealth Partners LLC bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $27,000. Heartwood Wealth Advisors LLC purchased a new position in McCormick & Company, Incorporated during the third quarter valued at approximately $28,000. Curio Wealth LLC increased its holdings in McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock valued at $30,000 after buying an additional 399 shares during the period. Finally, MTM Investment Management LLC bought a new position in McCormick & Company, Incorporated in the second quarter worth approximately $30,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction of $3,746,360.64. Following the completion of the sale, the chief executive officer directly owned 108,652 shares in the company, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s 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 in the company, valued at $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 146,158 shares of company stock valued at $9,557,324. Corporate insiders own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MKC shares. Jefferies Financial Group dropped their target price on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Stifel Nicolaus dropped their price objective 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. 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 report on Monday, December 15th. Sanford C. Bernstein reissued an “outperform” rating and set a $87.00 price target on shares of McCormick & Company, Incorporated in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. 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 currently has a consensus rating of “Hold” and a consensus target price of $78.00.

McCormick & Company, Incorporated Trading Down 1.1%

McCormick & Company, Incorporated stock opened at $67.33 on Monday. The stock has a 50-day moving average of $66.32 and a two-hundred day moving average of $68.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. McCormick & Company, Incorporated has a one year low of $62.64 and a one year high of $86.24. The stock has a market cap of $18.07 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 4.45 and a beta of 0.62.

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

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be issued a $0.48 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is 66.44%.

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.