McCormick & Company, Incorporated $MKC Shares Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 9.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 398,085 shares of the company’s stock after buying an additional 34,193 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.15% of McCormick & Company, Incorporated worth $30,183,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Stephens Inc. AR increased its position in McCormick & Company, Incorporated by 45.0% during the first quarter. Stephens Inc. AR now owns 10,682 shares of the company’s stock worth $879,000 after purchasing an additional 3,314 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of McCormick & Company, Incorporated by 5.6% during the 1st quarter. Sigma Planning Corp now owns 5,871 shares of the company’s stock worth $483,000 after buying an additional 309 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in shares of McCormick & Company, Incorporated by 0.6% during the 1st quarter. Wealthfront Advisers LLC now owns 58,418 shares of the company’s stock worth $4,808,000 after buying an additional 347 shares during the last quarter. Sage Mountain Advisors LLC raised its position in shares of McCormick & Company, Incorporated by 13.8% in the 1st quarter. Sage Mountain Advisors LLC now owns 3,156 shares of the company’s stock worth $260,000 after buying an additional 382 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in McCormick & Company, Incorporated by 83.4% in the first quarter. Larson Financial Group LLC now owns 3,657 shares of the company’s stock valued at $301,000 after acquiring an additional 1,663 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays dropped their price target 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. Stifel Nicolaus dropped their target price 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. 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their target price 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. 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, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus target price of $78.22.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $64.54, for a total transaction of $2,517,963.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Trading Up 0.4%

MKC opened at $65.96 on Thursday. The firm’s 50 day moving average is $66.53 and its 200-day moving average is $70.59. McCormick & Company, Incorporated has a 52-week low of $63.15 and a 52-week 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 firm has a market capitalization of $17.70 billion, a P/E ratio of 22.82, a P/E/G ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.71 billion. During the same period last year, the business 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. Analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 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.