Apollon Wealth Management LLC Purchases Shares of 2,848 McCormick & Company, Incorporated $MKC

Apollon Wealth Management LLC purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,848 shares of the company’s stock, valued at approximately $216,000.

Other large investors have also made changes to their positions in the company. Capital Analysts LLC bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $26,000. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $28,000. Wayfinding Financial LLC bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $30,000. Stonebridge Financial Group LLC grew its stake in shares of McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the period. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $43,000. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Up 1.5%

NYSE MKC opened at $67.58 on Monday. The stock’s 50 day moving average is $68.15 and its 200 day moving average is $71.79. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The stock has a market cap of $18.14 billion, a PE ratio of 23.38, a P/E/G ratio of 3.91 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm earned $0.83 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated’s payout ratio is currently 62.28%.

Insider Buying and Selling

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the transaction, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. The trade was a 16.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MKC shares. UBS Group cut their price target 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. JPMorgan Chase & Co. cut their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Sanford C. Bernstein cut their price objective on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Stifel Nicolaus cut their price objective on 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. 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.com, the company presently has an average rating of “Hold” and an average price target of $78.22.

McCormick & Company, Incorporated 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.