McCormick & Company, Incorporated $MKC Shares Bought by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,127 shares of the company’s stock after acquiring an additional 181 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in McCormick & Company, Incorporated were worth $1,450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MKC. Wealth Enhancement Advisory Services LLC increased its stake in McCormick & Company, Incorporated by 1.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 131,310 shares of the company’s stock worth $10,808,000 after acquiring an additional 1,695 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at $260,000. QRG Capital Management Inc. grew its stake in shares of McCormick & Company, Incorporated by 37.7% in the first quarter. QRG Capital Management Inc. now owns 19,718 shares of the company’s stock valued at $1,623,000 after buying an additional 5,398 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at $213,000. Finally, State of Alaska Department of Revenue grew its stake in shares of McCormick & Company, Incorporated by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 29,592 shares of the company’s stock valued at $2,435,000 after buying an additional 840 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays dropped their price objective on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus price target of $78.22.

McCormick & Company, Incorporated Trading Up 1.5%

NYSE:MKC opened at $67.58 on Friday. The firm has a market cap of $18.14 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 3.86 and a beta of 0.63. The stock has a fifty day moving average price of $68.15 and a 200 day moving average price of $71.92. McCormick & Company, Incorporated has a 12-month low of $63.66 and a 12-month high of $86.24. 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 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 firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.McCormick & Company, Incorporated’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 14th. McCormick & Company, Incorporated’s payout ratio is 62.28%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated 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 $16,251,745.32. The trade was a 16.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.80% of the stock is owned by company insiders.

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.