McCormick & Company, Incorporated $MKC Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 90.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,115 shares of the company’s stock after selling 20,930 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in McCormick & Company, Incorporated were worth $141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MKC. Heartwood Wealth Advisors LLC purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at about $28,000. Corient Private Wealth LLC lifted its stake in McCormick & Company, Incorporated by 6.0% in the 2nd quarter. Corient Private Wealth LLC now owns 496,100 shares of the company’s stock worth $37,614,000 after purchasing an additional 28,145 shares in the last quarter. Caldwell Trust Co acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $471,000. Reynders McVeigh Capital Management LLC grew its position in shares of McCormick & Company, Incorporated by 2.6% in the second quarter. Reynders McVeigh Capital Management LLC now owns 398,466 shares of the company’s stock valued at $30,212,000 after purchasing an additional 10,079 shares in the last quarter. Finally, Orion Porfolio Solutions LLC grew its position in shares of McCormick & Company, Incorporated by 7.9% in the second quarter. Orion Porfolio Solutions LLC now owns 10,698 shares of the company’s stock valued at $811,000 after purchasing an additional 781 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction that occurred 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 owned 246,762 shares of the company’s stock, valued at approximately $16,251,745.32. This trade represents a 16.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brendan M. Foley sold 57,144 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the completion of the sale, the chief executive officer owned 108,652 shares of the company’s stock, valued at $7,123,225.12. This trade represents a 34.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 146,158 shares of company stock worth $9,557,324. Company insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $68.33 on Wednesday. The stock has a fifty day simple moving average of $65.86 and a 200-day simple moving average of $69.18. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. The stock has a market cap of $18.34 billion, a PE ratio of 23.64, a P/E/G ratio of 4.74 and a beta of 0.62. McCormick & Company, Incorporated has a twelve month low of $62.64 and a twelve month 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 (EPS) for the quarter, beating 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 firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm earned $0.83 EPS. McCormick & Company, Incorporated’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. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be paid a $0.48 dividend. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, December 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.8%. McCormick & Company, Incorporated’s payout ratio is presently 62.28%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MKC shares. Stifel Nicolaus reduced their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Barclays cut their target price 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. Deutsche Bank Aktiengesellschaft raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday. UBS Group cut 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, Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $78.00.

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.