Camden National Bank Sells 913 Shares of McCormick & Company, Incorporated $MKC

Camden National Bank cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,622 shares of the company’s stock after selling 913 shares during the quarter. Camden National Bank’s holdings in McCormick & Company, Incorporated were worth $8,160,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bank of Jackson Hole Trust bought a new position in McCormick & Company, Incorporated during the second quarter valued at about $25,000. Capital Analysts LLC purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $26,000. Zions Bancorporation National Association UT purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $28,000. Curio Wealth LLC grew its position in shares of 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 acquiring an additional 399 shares during the period. Finally, MTM Investment Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $30,000. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Barclays cut their price target 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 reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Finally, UBS Group dropped their price objective on shares of 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 analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and an average target price of $78.22.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, CEO Brendan M. Foley sold 57,144 shares of the stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the completion of the transaction, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. The trade was a 16.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 146,158 shares of company stock valued at $9,557,324 over the last 90 days. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $68.12 on Friday. McCormick & Company, Incorporated has a one year low of $63.15 and a one year high of $86.24. The business has a fifty day moving average price of $66.03 and a 200-day moving average price of $70.16. 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 capitalization of $18.28 billion, a P/E ratio of 23.57, a PEG ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.30% and a net margin of 11.46%.The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be issued a $0.48 dividend. 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.8%. McCormick & Company, Incorporated’s payout ratio is currently 66.44%.

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.