AMI Asset Management Corp Decreases Stock Holdings in McCormick & Company, Incorporated $MKC

AMI Asset Management Corp reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 340,159 shares of the company’s stock after selling 8,785 shares during the period. McCormick & Company, Incorporated accounts for approximately 1.3% of AMI Asset Management Corp’s portfolio, making the stock its 29th largest position. AMI Asset Management Corp’s holdings in McCormick & Company, Incorporated were worth $22,760,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank of Jackson Hole Trust bought a new position in McCormick & Company, Incorporated during the 2nd quarter valued at approximately $25,000. Elevation Point Wealth Partners LLC purchased a new position in shares of McCormick & Company, Incorporated during the second quarter valued at approximately $27,000. Heartwood Wealth Advisors LLC bought a new position in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $28,000. Curio Wealth LLC raised its holdings in shares of McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock valued at $30,000 after acquiring an additional 399 shares in the last quarter. Finally, MTM Investment Management LLC purchased a new stake in McCormick & Company, Incorporated in the second quarter worth $30,000. 79.74% of the stock is owned by institutional investors.

Insider Activity at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 246,762 shares in the company, valued at $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brendan M. Foley sold 57,144 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 108,652 shares in the company, valued at $7,123,225.12. This represents a 34.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 146,158 shares of company stock valued at $9,557,324 over the last three months. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Trading Down 1.3%

Shares of NYSE MKC opened at $68.00 on Friday. The firm’s 50 day moving average price is $66.22 and its 200-day moving average price is $69.00. McCormick & Company, Incorporated has a 52-week low of $62.64 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The company has a market cap of $18.25 billion, a PE ratio of 23.53, a P/E/G ratio of 4.56 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 for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, 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 declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be paid a $0.48 dividend. This is a boost 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%. The ex-dividend date is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 62.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MKC shares. Sanford C. Bernstein reissued an “outperform” rating and set a $87.00 price objective on shares of McCormick & Company, Incorporated in a research report on Thursday, December 11th. Stifel Nicolaus reduced their price target on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Barclays decreased their price target on shares of 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. JPMorgan Chase & Co. cut their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Monday, December 15th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.