Joel Isaacson & Co. LLC Trims Stock Position in McCormick & Company, Incorporated $MKC

Joel Isaacson & Co. LLC cut its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 22.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,444 shares of the company’s stock after selling 1,875 shares during the period. Joel Isaacson & Co. LLC’s holdings in McCormick & Company, Incorporated were worth $489,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MKC. Alyeska Investment Group L.P. raised its stake in McCormick & Company, Incorporated by 1,360.5% during the first quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock worth $129,647,000 after purchasing an additional 1,467,254 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of McCormick & Company, Incorporated by 28.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after acquiring an additional 920,618 shares during the period. Alecta Tjanstepension Omsesidigt raised its stake in shares of McCormick & Company, Incorporated by 94.7% in the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after acquiring an additional 865,500 shares during the period. Nuveen LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at approximately $55,643,000. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at approximately $47,056,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Down 3.8%

Shares of MKC stock opened at $65.71 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The stock has a market capitalization of $17.63 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 3.39 and a beta of 0.63. The company has a 50 day moving average price of $68.81 and a 200 day moving average price of $72.69. McCormick & Company, Incorporated has a fifty-two week low of $63.66 and a fifty-two week high of $86.24.

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

McCormick & Company, Incorporated Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MKC shares. Weiss Ratings reissued a “hold (c)” rating on shares of McCormick & Company, Incorporated in a research note on Saturday, September 27th. Wall Street Zen downgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Stifel Nicolaus reduced their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, July 29th. UBS Group reduced their price target on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. dropped 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 report on Thursday, September 25th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.29.

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.