AustralianSuper Pty Ltd Takes $540,000 Position in McCormick & Company, Incorporated $MKC

AustralianSuper Pty Ltd bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,127 shares of the company’s stock, valued at approximately $540,000.

Other large investors have also recently bought and sold shares of the company. Capital Analysts LLC bought a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $28,000. Wayfinding Financial LLC bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $30,000. Curio Wealth LLC increased its position in shares of McCormick & Company, Incorporated by 39,900.0% in the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock valued at $30,000 after buying an additional 399 shares in the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of McCormick & Company, Incorporated in the second quarter worth about $43,000. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, October 8th. The shares were 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 of the company’s stock, valued at $16,251,745.32. This trade represents a 16.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Down 1.7%

MKC stock opened at $66.00 on Wednesday. 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 business has a 50 day moving average price of $67.82 and a two-hundred day moving average price of $71.43. The company has a market cap of $17.71 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 3.93 and a beta of 0.63. McCormick & Company, Incorporated has a twelve month low of $63.66 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $0.83 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.28%.

Analysts Set New Price Targets

MKC has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. UBS Group lowered their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Sanford C. Bernstein lowered their price objective on shares of 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. Finally, Stifel Nicolaus lowered their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.22.

McCormick & Company, Incorporated 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.