Boston Trust Walden Corp Buys 26,928 Shares of McCormick & Company, Incorporated $MKC

Boston Trust Walden Corp grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,109,954 shares of the company’s stock after acquiring an additional 26,928 shares during the period. Boston Trust Walden Corp’s holdings in McCormick & Company, Incorporated were worth $74,267,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Bank of Jackson Hole Trust bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $25,000. Elevation Point Wealth Partners LLC acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $27,000. Anfield Capital Management LLC boosted its stake in McCormick & Company, Incorporated by 161.3% during the second quarter. Anfield Capital Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 242 shares in the last quarter. Curio Wealth LLC grew its holdings in McCormick & Company, Incorporated by 39,900.0% in the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after purchasing an additional 399 shares during the period. Finally, MTM Investment Management LLC bought a new stake in McCormick & Company, Incorporated in the second quarter valued at $30,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Trading Up 0.1%

Shares of McCormick & Company, Incorporated stock opened at $68.95 on Monday. 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 has a 1 year low of $62.64 and a 1 year high of $86.24. The firm has a market cap of $18.50 billion, a PE ratio of 23.86, a PEG ratio of 4.56 and a beta of 0.62. The company has a 50 day simple moving average of $66.25 and a two-hundred day simple moving average of $68.87.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The firm’s quarterly 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. Analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be paid a $0.48 dividend. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 29th. McCormick & Company, Incorporated’s payout ratio is currently 62.28%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MKC shares. Jefferies Financial Group cut their price target on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Sanford C. Bernstein reiterated an “outperform” rating and set a $87.00 price target on shares of McCormick & Company, Incorporated in a report on Thursday, December 11th. Barclays dropped their price target on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $78.00.

Insiders Place Their Bets

In related news, CEO Brendan M. Foley sold 57,144 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the transaction, the chief executive officer owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. This trade represents a 34.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $64.54, for a total value of $2,517,963.56. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,158 shares of company stock valued at $9,557,324 in the last ninety days. 23.80% of the stock is owned by corporate insiders.

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.