Ascent Group LLC Sells 1,437 Shares of McCormick & Company, Incorporated $MKC

Ascent Group LLC reduced its stake in McCormick & Company, Incorporated (NYSE:MKC) by 27.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,790 shares of the company’s stock after selling 1,437 shares during the period. Ascent Group LLC’s holdings in McCormick & Company, Incorporated were worth $287,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MKC. Capital Analysts LLC purchased a new position in shares of McCormick & Company, Incorporated during the first quarter valued at $26,000. Zions Bancorporation National Association UT bought a new position in McCormick & Company, Incorporated during the 1st quarter worth about $28,000. Wayfinding Financial LLC bought a new position in McCormick & Company, Incorporated during the 1st quarter worth about $30,000. Salem Investment Counselors Inc. grew its holdings in McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock worth $32,000 after acquiring an additional 336 shares in the last quarter. Finally, Stonebridge Financial Group LLC grew its holdings in McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock worth $33,000 after acquiring an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Down 3.8%

McCormick & Company, Incorporated stock opened at $65.71 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The stock has a market capitalization of $17.63 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 3.39 and a beta of 0.63. McCormick & Company, Incorporated has a 1-year low of $63.66 and a 1-year high of $86.24. The business has a fifty day moving average price of $68.81 and a 200-day moving average price of $72.69.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm earned $0.83 EPS. The business’s quarterly 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. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio is 62.50%.

Analyst Ratings Changes

MKC has been the subject of several research reports. Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, July 29th. JPMorgan Chase & Co. reduced their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. UBS Group cut their price target on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Citigroup cut their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, June 17th. Finally, Jefferies Financial Group dropped their price objective on McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average target price of $80.29.

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.