New York Life Investment Management LLC Has $2.87 Million Position in McCormick & Company, Incorporated $MKC

New York Life Investment Management LLC grew its position in McCormick & Company, Incorporated (NYSE:MKC) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,854 shares of the company’s stock after buying an additional 505 shares during the quarter. New York Life Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $2,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Analysts LLC bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $26,000. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $28,000. Wayfinding Financial LLC bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $30,000. Curio Wealth LLC grew its holdings in shares of McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock valued at $30,000 after purchasing an additional 399 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at approximately $43,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Up 0.4%

Shares of NYSE MKC opened at $64.10 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. McCormick & Company, Incorporated has a 52-week low of $63.64 and a 52-week high of $86.24. The firm has a 50 day moving average price of $67.56 and a two-hundred day moving average price of $71.29. The stock has a market cap of $17.20 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 3.74 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior 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. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.28%.

Insider Activity at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s 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 sale, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 23.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MKC shares. Barclays decreased 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 report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. UBS Group decreased 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. Stifel Nicolaus decreased 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 research report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average 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.