Elmwood Wealth Management Inc. Trims Stock Position in McCormick & Company, Incorporated $MKC

Elmwood Wealth Management Inc. cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,419 shares of the company’s stock after selling 209 shares during the period. Elmwood Wealth Management Inc.’s holdings in McCormick & Company, Incorporated were worth $790,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MKC. Capital Analysts LLC acquired a new position in McCormick & Company, Incorporated in the first quarter valued at $26,000. Zions Bancorporation National Association UT acquired a new position in McCormick & Company, Incorporated in the first quarter valued at $28,000. Wayfinding Financial LLC acquired a new position in McCormick & Company, Incorporated in the first quarter valued at $30,000. Stonebridge Financial Group LLC increased its stake in McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the period. Finally, Trust Co. of Toledo NA OH acquired a new position in McCormick & Company, Incorporated in the second quarter valued at $43,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Down 1.8%

Shares of McCormick & Company, Incorporated stock opened at $65.44 on Tuesday. McCormick & Company, Incorporated has a 52-week low of $63.66 and a 52-week high of $86.24. 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 company’s 50-day simple moving average is $68.44 and its 200-day simple moving average is $72.22. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 3.86 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The business’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. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.28%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 246,762 shares in the company, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MKC. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday. 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 research note on Wednesday, October 8th. Barclays dropped their price objective 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. Citigroup dropped their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of McCormick & Company, Incorporated in a research note on Saturday, September 27th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.22.

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.