McCormick & Company, Incorporated $MKC is Van Cleef Asset Management Inc’s 10th Largest Position

Van Cleef Asset Management Inc raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 21.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,906 shares of the company’s stock after acquiring an additional 54,092 shares during the quarter. McCormick & Company, Incorporated makes up about 2.5% of Van Cleef Asset Management Inc’s holdings, making the stock its 10th largest holding. Van Cleef Asset Management Inc’s holdings in McCormick & Company, Incorporated were worth $23,194,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MKC. Capital Analysts LLC purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter worth approximately $26,000. Bank of Jackson Hole Trust acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth $25,000. Zions Bancorporation National Association UT purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter worth $28,000. Curio Wealth LLC grew its holdings in shares of McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 399 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of McCormick & Company, Incorporated by 132.0% in the second quarter. GHP Investment Advisors Inc. now owns 464 shares of the company’s stock valued at $35,000 after buying an additional 264 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the completion of the sale, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.6%

Shares of NYSE MKC opened at $65.05 on Friday. The company has a 50 day simple moving average of $66.79 and a 200-day simple moving average of $70.83. The company has a market capitalization of $17.46 billion, a P/E ratio of 22.51, a P/E/G ratio of 3.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. McCormick & Company, Incorporated has a 1 year low of $63.15 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared 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 annualized dividend 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 62.28%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MKC shares. JPMorgan Chase & Co. lowered 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 research report on Thursday, September 25th. Barclays decreased 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 research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Jefferies Financial Group lowered their price objective on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.