Corient Private Wealth LLC Buys 28,145 Shares of McCormick & Company, Incorporated $MKC

Corient Private Wealth LLC grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 6.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 496,100 shares of the company’s stock after buying an additional 28,145 shares during the period. Corient Private Wealth LLC’s holdings in McCormick & Company, Incorporated were worth $37,614,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of McCormick & Company, Incorporated by 1.7% in the second quarter. Vanguard Group Inc. now owns 32,427,901 shares of the company’s stock worth $2,458,683,000 after purchasing an additional 553,862 shares during the period. Geode Capital Management LLC grew its holdings in McCormick & Company, Incorporated by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 6,375,983 shares of the company’s stock valued at $481,354,000 after buying an additional 133,800 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in McCormick & Company, Incorporated by 28.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after buying an additional 920,618 shares during the last quarter. Invesco Ltd. increased its position in McCormick & Company, Incorporated by 44.9% in the 2nd quarter. Invesco Ltd. now owns 3,737,793 shares of the company’s stock worth $283,399,000 after buying an additional 1,158,423 shares during the period. Finally, Norges Bank bought a new position in McCormick & Company, Incorporated in the 2nd quarter worth approximately $249,087,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 0.2%

Shares of MKC stock opened at $68.33 on Wednesday. McCormick & Company, Incorporated has a one year low of $62.64 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 stock has a fifty day moving average price of $65.86 and a 200 day moving average price of $69.18. The stock has a market cap of $18.34 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 4.74 and a beta of 0.62.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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 during the quarter, compared to analysts’ expectations of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be paid a dividend of $0.48 per share. 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 yield of 2.8%. The ex-dividend date is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is 62.28%.

Insider Transactions at McCormick & Company, Incorporated

In other news, CEO Brendan M. Foley sold 57,144 shares of the stock in a transaction that occurred 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 approximately $7,123,225.12. This represents a 34.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction on 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 146,158 shares of company stock valued at $9,557,324. Corporate insiders own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

MKC has been the subject of several research reports. Sanford C. Bernstein reissued an “outperform” rating and issued a $87.00 price objective on shares of McCormick & Company, Incorporated in a research report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Monday. Stifel Nicolaus dropped their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. Finally, Jefferies Financial Group cut their price objective on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $78.00.

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.