Ethic Inc. Reduces Position in McCormick & Company, Incorporated $MKC

Ethic Inc. reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 12.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 63,075 shares of the company’s stock after selling 8,688 shares during the period. Ethic Inc.’s holdings in McCormick & Company, Incorporated were worth $4,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Jackson Hole Trust acquired 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 McCormick & Company, Incorporated during the second quarter worth $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 buying an additional 242 shares during the last quarter. Curio Wealth LLC grew its holdings in 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, MTM Investment Management LLC purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $30,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on MKC. Deutsche Bank Aktiengesellschaft upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Monday, December 15th. JPMorgan Chase & Co. reduced their target price 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. UBS Group decreased their target price on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Stifel Nicolaus cut their price target on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Finally, Jefferies Financial Group reduced their price target on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.00.

Insiders Place Their Bets

In related news, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 108,652 shares in the company, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 146,158 shares of company stock worth $9,557,324 over the last 90 days. 23.80% of the stock is owned by insiders.

McCormick & Company, Incorporated Trading Down 1.0%

NYSE MKC opened at $68.46 on Wednesday. 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 market capitalization of $18.37 billion, a P/E ratio of 23.69, a PEG ratio of 4.57 and a beta of 0.62. The firm’s 50-day moving average is $66.31 and its two-hundred day moving average is $68.78. McCormick & Company, Incorporated has a 12 month low of $62.64 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results 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. 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 for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm earned $0.83 EPS. The business’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. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The company 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 represents a $1.92 dividend on an annualized basis and a yield of 2.8%. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, December 29th. McCormick & Company, Incorporated’s payout ratio is currently 66.44%.

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.