DNB Asset Management AS Decreases Stock Position in McCormick & Company, Incorporated $MKC

DNB Asset Management AS decreased its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 43.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,147 shares of the company's stock after selling 48,762 shares during the period. DNB Asset Management AS's holdings in McCormick & Company, Incorporated were worth $4,864,000 at the end of the most recent reporting period.

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A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at about $25,000. Capital Analysts LLC purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $26,000. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated during the 1st quarter valued at approximately $28,000. Curio Wealth LLC grew its stake in McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company's stock valued at $30,000 after purchasing an additional 399 shares in the last quarter. Finally, MTM Investment Management LLC purchased a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Activity at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business's stock in a transaction that occurred on 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brendan M. Foley sold 57,144 shares of the company's stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total value of $3,746,360.64. Following the transaction, the chief executive officer owned 108,652 shares of the company's stock, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 146,158 shares of company stock valued at $9,557,324 over the last ninety days. Corporate insiders own 23.80% of the company's stock.

Analyst Ratings Changes

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Several equities analysts have recently commented on MKC shares. Deutsche Bank Aktiengesellschaft reduced their target price 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. UBS Group reduced their price objective on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Barclays dropped 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. Finally, Sanford C. Bernstein reduced their price target on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an "outperform" 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $78.22.

Check Out Our Latest Stock Analysis on McCormick & Company, Incorporated

McCormick & Company, Incorporated Stock Performance

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McCormick & Company, Incorporated stock opened at $68.12 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. McCormick & Company, Incorporated has a 12 month low of $63.15 and a 12 month high of $86.24. The company has a fifty day moving average price of $66.03 and a two-hundred day moving average price of $70.10. The company has a market cap of $18.28 billion, a PE ratio of 23.57, a P/E/G ratio of 3.74 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm posted $0.83 EPS. The company's revenue for the quarter 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. Research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be paid a $0.48 dividend. The ex-dividend date is Monday, December 29th. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. McCormick & Company, Incorporated's payout ratio is presently 66.44%.

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.

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