Crestwood Advisors Group LLC Lowers Stock Holdings in McCormick & Company, Incorporated $MKC

Crestwood Advisors Group LLC lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.7% in the second quarter, Holdings Channel.com reports. The firm owned 474,778 shares of the company’s stock after selling 13,001 shares during the period. Crestwood Advisors Group LLC’s holdings in McCormick & Company, Incorporated were worth $35,998,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EagleClaw Capital Managment LLC grew its holdings in McCormick & Company, Incorporated by 0.4% in the 1st quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock valued at $3,018,000 after buying an additional 135 shares during the period. Raab & Moskowitz Asset Management LLC grew its holdings in McCormick & Company, Incorporated by 5.0% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company’s stock valued at $289,000 after buying an additional 167 shares during the period. Horizon Investments LLC grew its holdings in McCormick & Company, Incorporated by 5.0% in the 1st quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock valued at $296,000 after buying an additional 173 shares during the period. ORG Partners LLC grew 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 purchasing an additional 173 shares during the period. Finally, Nicholson Wealth Management Group LLC grew 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 purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $64.02 on Wednesday. McCormick & Company, Incorporated has a twelve month low of $63.15 and a twelve month high of $86.24. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 3.74 and a beta of 0.63. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. The firm’s fifty day simple moving average is $67.14 and its 200 day simple moving average is $70.99.

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 return on equity of 14.30% and a net margin of 11.46%.The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm earned $0.83 EPS. The firm’s quarterly revenue 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, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the completion of the sale, the insider owned 246,762 shares in the company, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MKC. Barclays lowered their target price on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” 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 research note on Saturday, October 11th. Sanford C. Bernstein lowered their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Finally, UBS Group lowered their price target on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company 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.