Huntington National Bank Sells 6,313 Shares of McCormick & Company, Incorporated $MKC

Huntington National Bank decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 59,691 shares of the company’s stock after selling 6,313 shares during the period. Huntington National Bank’s holdings in McCormick & Company, Incorporated were worth $4,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of Jackson Hole Trust acquired a new position in shares of McCormick & Company, Incorporated during the second quarter worth $25,000. Capital Analysts LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter worth $26,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated during the first quarter worth $28,000. Wayfinding Financial LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter worth $30,000. Finally, Curio Wealth LLC increased its holdings in shares of McCormick & Company, Incorporated by 39,900.0% during the second quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 399 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.3%

Shares of MKC opened at $64.02 on Wednesday. The company has a market capitalization of $17.18 billion, a PE ratio of 22.15, a PEG ratio of 3.74 and a beta of 0.63. McCormick & Company, Incorporated has a 12 month low of $63.15 and a 12 month high of $86.24. The stock’s 50-day moving average price is $67.14 and its two-hundred day moving average price is $70.99. 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 announced its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

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

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the 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 in the company, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MKC shares. UBS Group lowered their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Barclays lowered their price target on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Jefferies Financial Group lowered their price target on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Stifel Nicolaus decreased their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus target price of $78.22.

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.