McCormick & Company, Incorporated $MKC Shares Acquired by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. increased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 114.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 62,264 shares of the company’s stock after purchasing an additional 33,192 shares during the quarter. McCormick & Company, Incorporated comprises about 2.3% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 16th largest position. Savoir Faire Capital Management L.P.’s holdings in McCormick & Company, Incorporated were worth $4,721,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Capital Analysts LLC purchased a new position in McCormick & Company, Incorporated in the 1st quarter valued at about $26,000. Bank of Jackson Hole Trust purchased a new position in McCormick & Company, Incorporated in the 2nd quarter valued at about $25,000. Zions Bancorporation National Association UT purchased a new position in McCormick & Company, Incorporated in the 1st quarter valued at about $28,000. Wayfinding Financial LLC purchased a new position in McCormick & Company, Incorporated in the 1st quarter valued at about $30,000. Finally, Curio Wealth LLC grew its stake in McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock valued at $30,000 after purchasing an additional 399 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lowered 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. Barclays lowered 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. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. UBS Group lowered 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 lowered 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 analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $78.22.

Insider Activity

In related 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 stock was sold at an average price of $65.86, for a total value 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 trade 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 Trading Up 0.4%

NYSE:MKC opened at $64.10 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $67.56 and its two-hundred day moving average is $71.29. McCormick & Company, Incorporated has a 52 week low of $63.64 and a 52 week high of $86.24. The company has a market cap of $17.20 billion, a PE ratio of 22.18, a P/E/G ratio of 3.74 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company posted $0.83 earnings per share. McCormick & Company, Incorporated’s revenue 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. On average, analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Tuesday, October 14th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.8%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.28%.

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.