Boston Trust Walden Corp Raises Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Boston Trust Walden Corp increased its holdings in McCormick & Company by 7.9%, bringing its total ownership to approximately 1,083,026 shares valued at $82.1 million.
• McCormick's quarterly earnings exceeded analysts' expectations, reporting $0.85 earnings per share on revenues of $1.72 billion, demonstrating a year-over-year revenue growth of 2.7%.
• The company recently declared a quarterly dividend of $0.45 per share, which translates to an annualized dividend yield of 2.8%.

Boston Trust Walden Corp increased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 7.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,083,026 shares of the company's stock after acquiring an additional 79,548 shares during the period. Boston Trust Walden Corp owned approximately 0.40% of McCormick & Company, Incorporated worth $82,115,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in McCormick & Company, Incorporated by 0.4% in the first quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company's stock worth $2,623,552,000 after acquiring an additional 136,729 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in McCormick & Company, Incorporated by 28.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company's stock worth $340,406,000 after purchasing an additional 920,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in McCormick & Company, Incorporated by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,230,719 shares of the company's stock worth $265,920,000 after purchasing an additional 184,230 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in McCormick & Company, Incorporated by 2.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company's stock worth $194,253,000 after purchasing an additional 60,604 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt lifted its stake in McCormick & Company, Incorporated by 94.7% during the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company's stock worth $134,795,000 after purchasing an additional 865,500 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the sale, the insider directly owned 246,762 shares in the company, valued at $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 1.8%

McCormick & Company, Incorporated stock opened at $65.44 on Tuesday. McCormick & Company, Incorporated has a 1-year low of $63.66 and a 1-year high of $86.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. The stock has a market cap of $17.56 billion, a PE ratio of 22.64, a P/E/G ratio of 3.86 and a beta of 0.63. The stock's fifty day moving average is $68.44 and its two-hundred day moving average is $72.22.

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 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 company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.71 billion. During the same period last year, the firm earned $0.83 earnings per share. McCormick & Company, Incorporated's quarterly 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. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.8%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 62.28%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Sanford C. Bernstein decreased their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 8th. Jefferies Financial Group decreased their price target on McCormick & Company, Incorporated from $84.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. UBS Group decreased their price target on 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. Finally, Barclays decreased their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an "equal weight" rating for the company in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $78.22.

About McCormick & Company, Incorporated

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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