SFG Wealth Management LLC. Sells 200 Shares of McCormick & Company, Incorporated $MKC

SFG Wealth Management LLC. cut its holdings in McCormick & Company, Incorporated (NYSE:MKCFree Report) by 1.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,275 shares of the company’s stock after selling 200 shares during the period. SFG Wealth Management LLC.’s holdings in McCormick & Company, Incorporated were worth $779,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Boston Trust Walden Corp grew its stake in shares of McCormick & Company, Incorporated by 7.9% during the second quarter. Boston Trust Walden Corp now owns 1,083,026 shares of the company’s stock valued at $82,115,000 after buying an additional 79,548 shares during the last quarter. Elefante Mark B boosted its holdings in McCormick & Company, Incorporated by 4.8% during the 2nd quarter. Elefante Mark B now owns 29,845 shares of the company’s stock valued at $2,263,000 after acquiring an additional 1,360 shares during the period. Delaney Dennis R grew its position in McCormick & Company, Incorporated by 8.3% during the 2nd quarter. Delaney Dennis R now owns 34,335 shares of the company’s stock worth $2,603,000 after acquiring an additional 2,640 shares during the last quarter. Yousif Capital Management LLC grew its position in McCormick & Company, Incorporated by 4.7% during the 2nd quarter. Yousif Capital Management LLC now owns 126,433 shares of the company’s stock worth $9,586,000 after acquiring an additional 5,642 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in McCormick & Company, Incorporated by 8.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 28,090 shares of the company’s stock worth $2,130,000 after purchasing an additional 2,293 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MKC has been the subject of a number of analyst reports. UBS Group dropped their price objective on 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. Barclays dropped 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 report on Wednesday, October 8th. Citigroup decreased their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 17th. JPMorgan Chase & Co. lowered their price target on 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, Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.22.

View Our Latest Research Report on McCormick & Company, Incorporated

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated 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 completion of the transaction, the insider directly owned 246,762 shares in the company, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $65.79 on Wednesday. The stock has a market cap of $17.66 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 3.79 and a beta of 0.63. The business’s fifty day moving average is $68.36 and its 200 day moving average is $72.17. McCormick & Company, Incorporated has a twelve month low of $63.66 and a twelve month high of $86.24. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54.

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) last announced its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm 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 of this dividend 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 (DPR) is currently 62.28%.

McCormick & Company, Incorporated Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for McCormick & Company, Incorporated (NYSE:MKC)

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