Swedbank AB Increases Stock Holdings in McCormick & Company, Incorporated $MKC

Swedbank AB increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 4.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 648,898 shares of the company’s stock after acquiring an additional 27,600 shares during the period. Swedbank AB owned approximately 0.24% of McCormick & Company, Incorporated worth $43,418,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Bank of Jackson Hole Trust acquired a new position in shares of McCormick & Company, Incorporated during the second quarter worth $25,000. Elevation Point Wealth Partners LLC acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $27,000. Anfield Capital Management LLC increased its stake in McCormick & Company, Incorporated by 161.3% during the 2nd quarter. Anfield Capital Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 242 shares during the period. Curio Wealth LLC lifted its holdings in McCormick & Company, Incorporated by 39,900.0% in the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 399 shares in the last quarter. Finally, MTM Investment Management LLC purchased a new position in McCormick & Company, Incorporated in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’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 directly owned 246,762 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brendan M. Foley sold 57,144 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 108,652 shares in the company, valued at $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. Over the last 90 days, insiders sold 146,158 shares of company stock valued at $9,557,324. 23.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MKC. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Sanford C. Bernstein restated an “outperform” rating and set a $87.00 price objective on shares of McCormick & Company, Incorporated in a report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. UBS Group dropped their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Finally, Barclays reduced their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $78.00.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $68.00 on Friday. The stock’s 50 day simple moving average is $66.22 and its 200 day simple moving average is $69.00. McCormick & Company, Incorporated has a 12-month low of $62.64 and a 12-month high of $86.24. The firm has a market cap of $18.25 billion, a P/E ratio of 23.53, a P/E/G ratio of 4.56 and a beta of 0.62. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be issued a $0.48 dividend. 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%. The ex-dividend date of this dividend is Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is 62.28%.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.