Dupont Capital Management Corp Makes New Investment in McCormick & Company, Incorporated $MKC

Key Points

• Dupont Capital Management Corp has acquired a new position in McCormick & Company, purchasing 56,996 shares valued at approximately $4.3 million in the second quarter.
• Institutional investors now own 79.74% of McCormick's stock, with major players like Vanguard Group and T. Rowe Price increasing their stakes.
• McCormick recently announced a quarterly dividend of $0.45 per share, representing an annualized rate of $1.80 with a dividend yield of 2.7%.

Dupont Capital Management Corp bought a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 56,996 shares of the company's stock, valued at approximately $4,321,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 purchasing an additional 136,729 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 valued at $340,406,000 after acquiring an additional 920,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 valued at $265,920,000 after acquiring an additional 184,230 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of 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 valued at $194,253,000 after acquiring an additional 60,604 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt increased its holdings in shares of McCormick & Company, Incorporated by 94.7% during the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company's stock valued at $134,795,000 after acquiring an additional 865,500 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the 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 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 filing with the SEC, which is available at the SEC website. 23.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MKC. Barclays cut 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 report on Wednesday, October 8th. Weiss Ratings reiterated a "hold (c-)" rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Jefferies Financial Group dropped their target price on McCormick & Company, Incorporated from $84.00 to $78.00 and set a "buy" rating on the stock in a research report on Wednesday, October 8th. Sanford C. Bernstein dropped their target price on 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. Finally, UBS Group dropped their target price on McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of "Hold" and a consensus target price of $78.22.

McCormick & Company, Incorporated Trading Up 0.3%

McCormick & Company, Incorporated stock opened at $67.75 on Tuesday. 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 has a 12 month low of $63.66 and a 12 month high of $86.24. The stock's 50 day simple moving average is $68.11 and its two-hundred day simple moving average is $71.73. The firm has a market cap of $18.18 billion, a PE ratio of 23.44, a P/E/G ratio of 3.91 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate 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 business's quarterly revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.28%.

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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