Huntington National Bank Has $4.53 Million Position in McCormick & Company, Incorporated $MKC

Huntington National Bank reduced its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,691 shares of the company’s stock after selling 6,313 shares during the period. Huntington National Bank’s holdings in McCormick & Company, Incorporated were worth $4,526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Analysts LLC acquired a new position in McCormick & Company, Incorporated during the 1st quarter worth approximately $26,000. Bank of Jackson Hole Trust acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $25,000. Zions Bancorporation National Association UT acquired a new position in McCormick & Company, Incorporated during the 1st quarter worth approximately $28,000. Wayfinding Financial LLC acquired a new position in McCormick & Company, Incorporated during the 1st quarter worth approximately $30,000. Finally, Curio Wealth LLC raised its stake in McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 399 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MKC shares. Sanford C. Bernstein dropped their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Stifel Nicolaus dropped their price target 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. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Jefferies Financial Group dropped their price target on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research 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 company currently has a consensus rating of “Hold” and an average price target of $78.22.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $64.02 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $63.15 and a fifty-two week high of $86.24. The stock has a market cap 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 debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The firm’s 50-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 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 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 firm earned $0.83 EPS. The firm’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, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 246,762 shares of the company’s stock, valued at $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated 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.