Sienna Gestion Has $6.43 Million Stock Holdings in McCormick & Company, Incorporated $MKC

Sienna Gestion boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,869 shares of the company’s stock after purchasing an additional 9,234 shares during the period. Sienna Gestion’s holdings in McCormick & Company, Incorporated were worth $6,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in McCormick & Company, Incorporated by 0.4% in the first quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company’s stock valued at $2,623,552,000 after purchasing an additional 136,729 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in McCormick & Company, Incorporated by 28.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after purchasing an additional 920,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in McCormick & Company, Incorporated by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,230,719 shares of the company’s stock valued at $265,920,000 after purchasing an additional 184,230 shares in the last quarter. Goldman Sachs Group Inc. grew its position in McCormick & Company, Incorporated by 2.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company’s stock valued at $194,253,000 after purchasing an additional 60,604 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt grew its position in McCormick & Company, Incorporated by 94.7% in the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after purchasing an additional 865,500 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $65.86, for a total value of $3,293,000.00. Following the completion of the sale, the insider owned 246,762 shares in the company, valued at $16,251,745.32. The trade was a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $64.51 on Thursday. The firm has a 50-day moving average of $67.01 and a 200-day moving average of $70.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The stock has a market cap of $17.31 billion, a PE ratio of 22.32, a P/E/G ratio of 3.74 and a beta of 0.61. McCormick & Company, Incorporated has a 52-week low of $63.15 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The business 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 company earned $0.83 EPS. The business’s 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. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MKC. JPMorgan Chase & Co. decreased their target price on shares of 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. Barclays decreased their target price on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. UBS Group decreased their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.22.

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.