Creative Planning Purchases 18,569 Shares of McCormick & Company, Incorporated $MKC

Creative Planning raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 25.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,841 shares of the company’s stock after buying an additional 18,569 shares during the period. Creative Planning’s holdings in McCormick & Company, Incorporated were worth $6,963,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MKC. Bank of Jackson Hole Trust bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $25,000. Capital Analysts LLC purchased a new stake in McCormick & Company, Incorporated in the first quarter worth $26,000. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated during the first quarter worth $28,000. Curio Wealth LLC lifted its position in shares of McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after purchasing an additional 399 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in shares of McCormick & Company, Incorporated by 132.0% during the second quarter. GHP Investment Advisors Inc. now owns 464 shares of the company’s stock valued at $35,000 after purchasing an additional 264 shares during the period. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $66.83 on Thursday. The company has a 50 day moving average price of $66.10 and a 200-day moving average price of $70.23. McCormick & Company, Incorporated has a fifty-two week low of $63.15 and a fifty-two week high of $86.24. The stock has a market capitalization of $17.93 billion, a PE ratio of 23.12, a PEG ratio of 3.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. McCormick & Company, Incorporated’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, December 29th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.28%.

Insiders Place Their Bets

In related news, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total transaction of $2,517,963.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brendan M. 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 owned 108,652 shares in the company, valued at $7,123,225.12. This trade represents a 34.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 146,158 shares of company stock valued at $9,557,324 over the last 90 days. 23.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MKC has been the topic of several recent analyst reports. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of 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 decreased their price target on shares of 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. Stifel Nicolaus dropped their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Finally, UBS Group reduced their price objective on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $78.22.

McCormick & Company, Incorporated Company 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.