McCormick & Company, Incorporated $MKC Shares Bought by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc raised its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 21.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 305,906 shares of the company’s stock after purchasing an additional 54,092 shares during the quarter. McCormick & Company, Incorporated accounts for 2.5% of Van Cleef Asset Management Inc’s portfolio, making the stock its 10th largest position. Van Cleef Asset Management Inc owned approximately 0.11% of McCormick & Company, Incorporated worth $23,194,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Penserra Capital Management LLC increased its holdings in McCormick & Company, Incorporated by 18.9% in the 1st quarter. Penserra Capital Management LLC now owns 4,943 shares of the company’s stock worth $406,000 after buying an additional 784 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 3.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 621,806 shares of the company’s stock valued at $51,181,000 after acquiring an additional 18,820 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of McCormick & Company, Incorporated by 2,398.8% in the 1st quarter. TD Private Client Wealth LLC now owns 4,073 shares of the company’s stock valued at $335,000 after acquiring an additional 3,910 shares during the last quarter. Parr Mcknight Wealth Management Group LLC increased its stake in shares of McCormick & Company, Incorporated by 17.3% in the first quarter. Parr Mcknight Wealth Management Group LLC now owns 16,442 shares of the company’s stock worth $1,353,000 after acquiring an additional 2,425 shares during the period. Finally, Xponance Inc. raised its holdings in shares of McCormick & Company, Incorporated by 2.0% during the first quarter. Xponance Inc. now owns 35,056 shares of the company’s stock worth $2,885,000 after purchasing an additional 688 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the completion of the transaction, the insider directly owned 246,762 shares in the company, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Deutsche Bank Aktiengesellschaft lowered their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. UBS Group dropped their target price on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Sanford C. Bernstein decreased their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, Jefferies Financial Group lowered their price objective on McCormick & Company, Incorporated from $84.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $78.22.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $65.05 on Friday. The firm has a market cap of $17.46 billion, a PE ratio of 22.51, a P/E/G ratio of 3.74 and a beta of 0.61. McCormick & Company, Incorporated has a twelve month low of $63.15 and a twelve month high of $86.24. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $66.79 and a 200 day moving average price of $70.83.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $1.72 billion for 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

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.