Robeco Institutional Asset Management B.V. Sells 34,927 Shares of McCormick & Company, Incorporated $MKC

Robeco Institutional Asset Management B.V. lessened its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 49.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,942 shares of the company’s stock after selling 34,927 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in McCormick & Company, Incorporated were worth $2,725,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MKC. Sivia Capital Partners LLC bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $206,000. Miracle Mile Advisors LLC raised its stake in shares of McCormick & Company, Incorporated by 1.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company’s stock worth $912,000 after acquiring an additional 146 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of McCormick & Company, Incorporated by 5.0% during the 1st quarter. Portside Wealth Group LLC now owns 8,120 shares of the company’s stock worth $668,000 after acquiring an additional 387 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $434,000. Finally, Yousif Capital Management LLC raised its stake in shares of McCormick & Company, Incorporated by 3.2% during the 1st quarter. Yousif Capital Management LLC now owns 120,791 shares of the company’s stock worth $9,942,000 after acquiring an additional 3,783 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MKC. Weiss Ratings restated a “hold (c)” rating on shares of McCormick & Company, Incorporated in a research note on Saturday, September 27th. Citigroup cut their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 17th. Wall Street Zen lowered shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Stifel Nicolaus cut their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $80.29.

McCormick & Company, Incorporated Stock Down 3.8%

NYSE:MKC opened at $65.71 on Wednesday. The firm has a market capitalization of $17.63 billion, a P/E ratio of 22.82, a PEG ratio of 3.39 and a beta of 0.63. McCormick & Company, Incorporated has a 1-year low of $63.66 and a 1-year high of $86.24. The company’s fifty day moving average price is $68.81 and its 200-day moving average price is $72.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data 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 firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 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 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.50%.

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.