Stephens Inc. AR Sells 3,155 Shares of McCormick & Company, Incorporated $MKC

Stephens Inc. AR lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 29.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,527 shares of the company’s stock after selling 3,155 shares during the quarter. Stephens Inc. AR’s holdings in McCormick & Company, Incorporated were worth $571,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MKC. Alyeska Investment Group L.P. grew its holdings in McCormick & Company, Incorporated by 1,360.5% during the first quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock worth $129,647,000 after buying an additional 1,467,254 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in McCormick & Company, Incorporated by 28.6% during 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 buying an additional 920,618 shares in the last quarter. Alecta Tjanstepension Omsesidigt grew its stake in McCormick & Company, Incorporated by 94.7% in the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after purchasing an additional 865,500 shares during the period. Nuveen LLC bought a new position in McCormick & Company, Incorporated in the 1st quarter valued at $55,643,000. Finally, Westfield Capital Management Co. LP bought a new position in McCormick & Company, Incorporated in the 1st quarter valued at $47,056,000. Institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

MKC has been the subject of a number of recent analyst reports. Jefferies Financial Group reduced their price objective on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Barclays reduced their price objective on 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. JPMorgan Chase & Co. reduced 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. UBS Group reduced 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. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Stock Down 0.8%

Shares of NYSE MKC opened at $66.86 on Friday. McCormick & Company, Incorporated has a one year low of $63.66 and a one year high of $86.24. 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 business’s fifty day moving average price is $67.91 and its 200-day moving average price is $71.59. The stock has a market capitalization of $17.94 billion, a PE ratio of 23.13, a P/E/G ratio of 3.91 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating 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 firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The business’s revenue for the quarter 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. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be issued 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 yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio is 62.28%.

Insider Transactions at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, October 8th. The stock was 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 of the company’s stock, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 23.80% of the company’s stock.

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.