McCormick & Company, Incorporated $MKC Shares Purchased by Aberdeen Group plc

Aberdeen Group plc boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,701 shares of the company’s stock after purchasing an additional 20,574 shares during the period. Aberdeen Group plc owned about 0.08% of McCormick & Company, Incorporated worth $16,592,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Analysts LLC acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at about $26,000. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at about $28,000. Wayfinding Financial LLC acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at about $30,000. Stonebridge Financial Group LLC increased its holdings in McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock valued at $33,000 after buying an additional 202 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $59,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MKC. JPMorgan Chase & Co. dropped their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. UBS Group dropped their target price on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus dropped their target price 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 dropped their target price on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $78.22.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on 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 in the company, valued at $16,251,745.32. This trade represents a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Trading Up 0.7%

Shares of MKC opened at $65.79 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 firm has a 50 day simple moving average of $68.36 and a 200-day simple moving average of $72.17. McCormick & Company, Incorporated has a 1-year low of $63.66 and a 1-year high of $86.24. The stock has a market cap of $17.66 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 3.79 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last issued 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. 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 during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the company posted $0.83 EPS. The company’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. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.28%.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.