Generali Asset Management SPA SGR Raises Stake in McCormick & Company, Incorporated $MKC

Generali Asset Management SPA SGR increased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 7,290.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,067 shares of the company’s stock after buying an additional 18,809 shares during the period. Generali Asset Management SPA SGR’s holdings in McCormick & Company, Incorporated were worth $1,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MKC. Norges Bank purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $249,087,000. Invesco Ltd. lifted its position in McCormick & Company, Incorporated by 44.9% during the second quarter. Invesco Ltd. now owns 3,737,793 shares of the company’s stock valued at $283,399,000 after purchasing an additional 1,158,423 shares during the period. Alecta Tjanstepension Omsesidigt boosted its holdings in McCormick & Company, Incorporated by 94.7% in the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after purchasing an additional 865,500 shares during the last quarter. Vanguard Group Inc. boosted its holdings in McCormick & Company, Incorporated by 1.7% in the second quarter. Vanguard Group Inc. now owns 32,427,901 shares of the company’s stock valued at $2,458,683,000 after purchasing an additional 553,862 shares during the last quarter. Finally, Swedbank AB grew its position in McCormick & Company, Incorporated by 187.7% during the 1st quarter. Swedbank AB now owns 605,543 shares of the company’s stock worth $49,842,000 after purchasing an additional 395,071 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Lawrence Erik Kurzius sold 39,014 shares of McCormick & Company, Incorporated stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total value of $2,517,963.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brendan M. Foley sold 57,144 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the transaction, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at $7,123,225.12. The trade was a 34.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 146,158 shares of company stock worth $9,557,324. 23.80% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Trading Down 1.1%

Shares of NYSE:MKC opened at $67.33 on Monday. The business’s 50 day moving average price is $66.32 and its 200-day moving average price is $68.66. McCormick & Company, Incorporated has a 1 year low of $62.64 and a 1 year high of $86.24. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 4.45 and a beta of 0.62. 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 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 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 firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share 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. Investors of record on Monday, December 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio is 66.44%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stifel Nicolaus lowered their target price on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Sanford C. Bernstein restated an “outperform” rating and issued a $87.00 price objective on shares of McCormick & Company, Incorporated in a research report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Monday, December 15th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, UBS Group dropped their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $78.00.

McCormick & Company, Incorporated 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.