McCormick & Company, Incorporated $MKC Shares Sold by Piscataqua Savings Bank

Piscataqua Savings Bank decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 37.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 528 shares of the company’s stock after selling 310 shares during the period. Piscataqua Savings Bank’s holdings in McCormick & Company, Incorporated were worth $40,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in McCormick & Company, Incorporated by 0.4% during the first quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company’s stock worth $2,623,552,000 after purchasing an additional 136,729 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of McCormick & Company, Incorporated by 28.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock worth $340,406,000 after acquiring an additional 920,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of McCormick & Company, Incorporated by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,230,719 shares of the company’s stock worth $265,920,000 after acquiring an additional 184,230 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of McCormick & Company, Incorporated by 1.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company’s stock worth $232,264,000 after acquiring an additional 43,353 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of McCormick & Company, Incorporated by 2.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company’s stock worth $194,253,000 after acquiring an additional 60,604 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $66.30 on Friday. The company has a market capitalization of $17.79 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 3.28 and a beta of 0.65. The firm has a fifty day simple moving average of $70.21 and a 200-day simple moving average of $74.14. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a twelve month low of $65.95 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated’s dividend payout ratio is 62.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MKC shares. UBS Group dropped their price objective on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. Citigroup dropped their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, June 17th. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. Stifel Nicolaus dropped their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Moderate Buy” and an average target price of $84.25.

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.