Paradigm Asset Management Co. LLC Invests $963,000 in McCormick & Company, Incorporated $MKC

Paradigm Asset Management Co. LLC purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,700 shares of the company’s stock, valued at approximately $963,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MKC. Fox Run Management L.L.C. acquired a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $229,000. Bryn Mawr Trust Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 3.9% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 7,253 shares of the company’s stock valued at $550,000 after acquiring an additional 275 shares during the period. Savant Capital LLC raised its holdings in McCormick & Company, Incorporated by 1.6% during the second quarter. Savant Capital LLC now owns 24,660 shares of the company’s stock worth $1,870,000 after purchasing an additional 379 shares in the last quarter. Sound Financial Strategies Group LLC raised its holdings in McCormick & Company, Incorporated by 3.8% during the second quarter. Sound Financial Strategies Group LLC now owns 9,359 shares of the company’s stock worth $710,000 after purchasing an additional 345 shares in the last quarter. Finally, Sienna Gestion lifted its position in McCormick & Company, Incorporated by 11.0% in the second quarter. Sienna Gestion now owns 92,869 shares of the company’s stock worth $6,429,000 after purchasing an additional 9,234 shares during the period. Institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

MKC has been the topic of several research analyst reports. UBS Group lowered their price target on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Barclays dropped 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 research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein reduced their target price on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $78.22.

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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

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

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

McCormick & Company, Incorporated Dividend Announcement

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

McCormick & Company, Incorporated Company 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.