Kidder Stephen W Sells 420 Shares of McCormick & Company, Incorporated $MKC

Kidder Stephen W lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 0.8% in the second quarter, Holdings Channel.com reports. The firm owned 54,150 shares of the company’s stock after selling 420 shares during the period. McCormick & Company, Incorporated comprises approximately 1.2% of Kidder Stephen W’s investment portfolio, making the stock its 27th biggest holding. Kidder Stephen W’s holdings in McCormick & Company, Incorporated were worth $4,106,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Somerville Kurt F increased its holdings in shares of McCormick & Company, Incorporated by 3.7% in the second quarter. Somerville Kurt F now owns 112,631 shares of the company’s stock worth $8,540,000 after purchasing an additional 4,055 shares during the period. KLP Kapitalforvaltning AS increased its stake in shares of McCormick & Company, Incorporated by 1.8% during the second quarter. KLP Kapitalforvaltning AS now owns 90,056 shares of the company’s stock valued at $6,828,000 after purchasing an additional 1,600 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of McCormick & Company, Incorporated by 2.1% during the second quarter. DAVENPORT & Co LLC now owns 69,156 shares of the company’s stock valued at $5,243,000 after acquiring an additional 1,410 shares in the last quarter. Grimes & Company Inc. boosted its stake in shares of McCormick & Company, Incorporated by 3.8% during the 2nd quarter. Grimes & Company Inc. now owns 96,626 shares of the company’s stock worth $7,326,000 after acquiring an additional 3,530 shares during the last quarter. Finally, Boston Common Asset Management LLC increased its holdings in McCormick & Company, Incorporated by 1.8% in the 2nd quarter. Boston Common Asset Management LLC now owns 66,156 shares of the company’s stock valued at $5,016,000 after acquiring an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MKC. Stifel Nicolaus decreased their target price 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. Weiss Ratings reiterated a “hold (c)” rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. Citigroup lowered their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, June 17th. UBS Group reduced their price objective on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. reduced their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research 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 stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $80.29.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $65.71 on Wednesday. The business has a 50-day moving average of $68.81 and a 200-day moving average of $72.69. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 3.39 and a beta of 0.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 EPS 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company posted $0.83 earnings per share. McCormick & Company, Incorporated’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. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business 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 of this dividend is Tuesday, October 14th. McCormick & Company, Incorporated’s payout ratio is currently 62.50%.

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.