Massachusetts Financial Services Co. MA Has $248.99 Million Holdings in McCormick & Company, Incorporated $MKC

Massachusetts Financial Services Co. MA lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,284,006 shares of the company’s stock after selling 258,193 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.22% of McCormick & Company, Incorporated worth $248,993,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MKC. EagleClaw Capital Managment LLC lifted its position in McCormick & Company, Incorporated by 0.4% during the 1st quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock worth $3,018,000 after buying an additional 135 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in McCormick & Company, Incorporated by 4.8% in the second quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company’s stock valued at $246,000 after purchasing an additional 148 shares in the last quarter. Raab & Moskowitz Asset Management LLC increased its position in shares of McCormick & Company, Incorporated by 5.0% during the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company’s stock worth $289,000 after purchasing an additional 167 shares during the last quarter. Horizon Investments LLC raised its stake in shares of McCormick & Company, Incorporated by 5.0% during the 1st quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock worth $296,000 after purchasing an additional 173 shares in the last quarter. Finally, ORG Partners LLC grew its stake in shares of McCormick & Company, Incorporated by 13.2% in the second quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock valued at $115,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MKC shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report 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 report 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, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $78.22.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $65.34 on Monday. McCormick & Company, Incorporated has a one year low of $63.15 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 firm has a market cap of $17.54 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 3.74 and a beta of 0.61. The stock’s fifty day moving average price is $66.33 and its two-hundred day moving average price is $70.41.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results 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 net margin of 11.46% and a return on equity of 14.30%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior 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. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS 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 given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.8%. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.28%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, CEO Brendan M. Foley sold 57,144 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, November 12th. The stock was 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 of the company’s stock, valued at $7,123,225.12. The trade was a 34.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 246,762 shares in the company, valued at $16,251,745.32. The trade was a 16.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 146,158 shares of company stock worth $9,557,324. Corporate insiders own 23.80% 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.