McCormick & Company, Incorporated (NYSE:MKC) CEO Brendan Foley Sells 57,144 Shares

McCormick & Company, Incorporated (NYSE:MKC) CEO Brendan Foley sold 57,144 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the transaction, the chief executive officer directly owned 108,652 shares in the company, valued at $7,123,225.12. This represents a 34.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

McCormick & Company, Incorporated Stock Up 0.2%

MKC opened at $66.01 on Friday. McCormick & Company, Incorporated has a 1 year low of $63.15 and a 1 year high of $86.24. The firm has a 50 day moving average price of $66.44 and a 200 day moving average price of $70.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The company has a market cap of $17.71 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, beating 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 period in the previous year, the company posted $0.83 earnings per share. McCormick & Company, Incorporated’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. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

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. This represents a $1.80 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MKC shares. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Jefferies Financial Group dropped their target price on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Sanford C. Bernstein decreased their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MKC. Capital Analysts LLC acquired a new position in shares of McCormick & Company, Incorporated in the 1st quarter valued at approximately $26,000. Bank of Jackson Hole Trust acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter worth approximately $25,000. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated in the first quarter worth $28,000. Elevation Point Wealth Partners LLC bought a new stake in shares of McCormick & Company, Incorporated in the second quarter worth $27,000. Finally, Anfield Capital Management LLC raised its holdings in McCormick & Company, Incorporated by 161.3% in the second quarter. Anfield Capital Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

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.