McCormick & Company, Incorporated $MKC Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH reduced its holdings in McCormick & Company by 68%, ending the quarter with 41,514 shares valued at approximately $3.15 million.
• McCormick & Company reported earnings of $0.69 per share for the last quarter, exceeding analysts' expectations, while revenue was slightly below estimates at $1.66 billion.
• The company announced a quarterly dividend of $0.45 per share, with a yield of 2.6%, reflecting a payout ratio of 62.5%.

Park National Corp OH trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 68.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,514 shares of the company's stock after selling 88,149 shares during the period. Park National Corp OH's holdings in McCormick & Company, Incorporated were worth $3,148,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Analysts LLC acquired a new position in McCormick & Company, Incorporated during the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $28,000. Wayfinding Financial LLC purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $30,000. Salem Investment Counselors Inc. raised its stake in shares of McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after purchasing an additional 336 shares during the period. Finally, Stonebridge Financial Group LLC raised its stake in shares of McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after purchasing an additional 202 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 1.2%

Shares of NYSE:MKC opened at $69.00 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $70.70 and a 200 day simple moving average of $74.53. The firm has a market cap of $18.52 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 3.43 and a beta of 0.65. McCormick & Company, Incorporated has a 12-month low of $67.71 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.6%. McCormick & Company, Incorporated's payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MKC shares. Citigroup dropped their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. Wall Street Zen lowered shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research note on Saturday. Stifel Nicolaus dropped their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. UBS Group dropped their price objective on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, August 22nd. Finally, JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $69.00 to $83.00 in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Company 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.

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