Confluence Investment Management LLC Buys New Shares in McCormick & Company, Incorporated $MKC

Confluence Investment Management LLC bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, HoldingsChannel reports. The firm bought 322,216 shares of the company’s stock, valued at approximately $21,559,000.

A number of other institutional investors have also added to or reduced their stakes in MKC. Bank of Jackson Hole Trust bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $25,000. Capital Analysts LLC bought a new position in McCormick & Company, Incorporated in the 1st quarter valued at about $26,000. Elevation Point Wealth Partners LLC acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $27,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $28,000. Finally, Anfield Capital Management LLC boosted its position in shares of McCormick & Company, Incorporated by 161.3% in the second quarter. Anfield Capital Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 242 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, CEO Brendan M. Foley sold 57,144 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the transaction, the chief executive officer directly owned 108,652 shares in the company, valued at approximately $7,123,225.12. This trade represents a 34.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the completion of the sale, the insider 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 146,158 shares of company stock worth $9,557,324. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $68.89 on Tuesday. McCormick & Company, Incorporated has a 1 year low of $62.64 and a 1 year high of $86.24. The stock has a market capitalization of $18.49 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 4.54 and a beta of 0.62. The company’s 50-day moving average is $66.08 and its 200-day moving average is $69.05. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business earned $0.83 EPS. The firm’s revenue for the quarter 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. Equities research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be given a dividend of $0.48 per share. 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 annualized dividend and a dividend yield of 2.8%. McCormick & Company, Incorporated’s payout ratio is presently 62.28%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group cut their price target on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of 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. Deutsche Bank Aktiengesellschaft upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Monday, December 15th. Sanford C. Bernstein restated an “outperform” rating and issued a $87.00 price target on shares of McCormick & Company, Incorporated in a research report on Thursday, December 11th. Finally, UBS Group lowered their price objective on 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. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average price target of $78.00.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.