Vest Financial LLC Cuts Stake in McCormick & Company, Incorporated $MKC

Vest Financial LLC trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 697,300 shares of the company’s stock after selling 34,789 shares during the quarter. Vest Financial LLC owned about 0.26% of McCormick & Company, Incorporated worth $52,869,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. IFM Investors Pty Ltd grew its position in McCormick & Company, Incorporated by 13.3% during the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock valued at $4,091,000 after purchasing an additional 5,829 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter valued at about $260,000. Stratos Wealth Partners LTD. grew its position in McCormick & Company, Incorporated by 5.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock valued at $7,267,000 after purchasing an additional 4,771 shares during the last quarter. Retirement Guys Formula LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter valued at about $988,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in McCormick & Company, Incorporated by 10.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company’s stock valued at $3,464,000 after purchasing an additional 3,877 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction that occurred 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 owned 246,762 shares in the company, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MKC. Stifel Nicolaus reduced their price target 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. UBS Group reduced their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of McCormick & Company, Incorporated in a research note on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $78.22.

McCormick & Company, Incorporated Trading Up 0.9%

NYSE:MKC opened at $66.70 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. The firm has a market capitalization of $17.90 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 3.86 and a beta of 0.63. McCormick & Company, Incorporated has a one year low of $63.66 and a one year high of $86.24. The business has a fifty day moving average price of $68.53 and a 200-day moving average price of $72.33.

McCormick & Company, Incorporated (NYSE:MKC) last posted 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. The firm had revenue of $1.72 billion during 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%.McCormick & Company, Incorporated’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 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.