Wendell David Associates Inc. Decreases Stock Position in McCormick & Company, Incorporated $MKC

Wendell David Associates Inc. cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 4.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 158,855 shares of the company’s stock after selling 6,871 shares during the quarter. McCormick & Company, Incorporated comprises 1.2% of Wendell David Associates Inc.’s holdings, making the stock its 24th largest position. Wendell David Associates Inc.’s holdings in McCormick & Company, Incorporated were worth $12,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MKC. EagleClaw Capital Managment LLC raised its holdings in McCormick & Company, Incorporated by 0.4% in the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock valued at $3,018,000 after acquiring an additional 135 shares in the last quarter. Raab & Moskowitz Asset Management LLC raised its holdings in McCormick & Company, Incorporated by 5.0% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company’s stock valued at $289,000 after acquiring an additional 167 shares in the last quarter. Horizon Investments LLC raised its holdings in McCormick & Company, Incorporated by 5.0% in the first quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock valued at $296,000 after acquiring an additional 173 shares in the last quarter. ORG Partners LLC raised its holdings in McCormick & Company, Incorporated by 13.2% in the second quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock valued at $115,000 after acquiring an additional 173 shares in the last quarter. Finally, Nicholson Wealth Management Group LLC raised its holdings in McCormick & Company, Incorporated by 1.0% in the second quarter. Nicholson Wealth Management Group LLC now owns 19,127 shares of the company’s stock valued at $1,450,000 after acquiring an additional 181 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Up 1.5%

MKC stock opened at $67.58 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a fifty-two week low of $63.66 and a fifty-two week high of $86.24. The firm’s 50-day simple moving average is $68.15 and its 200 day simple moving average is $71.85. The stock has a market cap of $18.14 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 3.91 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last released 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 for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company earned $0.83 EPS. The company’s revenue for the quarter 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. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group cut 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 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, October 11th. JPMorgan Chase & Co. cut their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein dropped their target price on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $78.22.

About McCormick & Company, Incorporated

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.