Park National Corp OH Has $1.83 Million Stake in McCormick & Company, Incorporated $MKC

Park National Corp OH reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 34.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,352 shares of the company’s stock after selling 14,162 shares during the period. Park National Corp OH’s holdings in McCormick & Company, Incorporated were worth $1,830,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Dupont Capital Management Corp acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth about $4,321,000. Bright Rock Capital Management LLC acquired a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $7,582,000. CW Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter worth approximately $1,099,000. Haverford Trust Co boosted its holdings in shares of McCormick & Company, Incorporated by 4.8% during the first quarter. Haverford Trust Co now owns 312,427 shares of the company’s stock worth $25,716,000 after purchasing an additional 14,381 shares during the period. Finally, Boston Trust Walden Corp grew its position in McCormick & Company, Incorporated by 7.9% during the second quarter. Boston Trust Walden Corp now owns 1,083,026 shares of the company’s stock valued at $82,115,000 after purchasing an additional 79,548 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MKC. Deutsche Bank Aktiengesellschaft upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Monday. Stifel Nicolaus cut their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, UBS Group reduced their price target on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $78.00.

Insider Buying and Selling

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total value of $3,293,000.00. Following the transaction, the insider owned 246,762 shares in the company, valued at $16,251,745.32. This trade represents a 16.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the transaction, the chief executive officer directly owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. This represents a 34.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 146,158 shares of company stock worth $9,557,324. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $68.33 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $62.64 and a fifty-two week high of $86.24. The stock’s 50-day moving average is $65.86 and its two-hundred day moving average is $69.18. The firm has a market cap of $18.34 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 4.74 and a beta of 0.62. 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 (NYSE:MKC) last issued its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm posted $0.83 EPS. The firm’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. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

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