McCormick & Company, Incorporated $MKC Shares Sold by Trust Co. of Oklahoma

Key Points

• Trust Co. of Oklahoma reduced its holdings in McCormick & Company by 36.4%, owning 10,427 shares after selling 5,970 shares.
• McCormick's stock price has fluctuated between a 12-month low of $67.71 and a high of $86.24, currently opening at $69.00.
• The company announced a quarterly dividend of $0.45 per share, resulting in an annualized yield of 2.6% with a payout ratio of 62.5%.

Trust Co. of Oklahoma cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 36.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,427 shares of the company's stock after selling 5,970 shares during the period. Trust Co. of Oklahoma's holdings in McCormick & Company, Incorporated were worth $791,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MKC. Capital Analysts LLC purchased a new position in McCormick & Company, Incorporated during the first quarter worth approximately $26,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $28,000. Wayfinding Financial LLC purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $30,000. Salem Investment Counselors Inc. grew its stake in McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after acquiring an additional 336 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MKC shares. Citigroup decreased 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 report 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. UBS Group cut their price objective on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a research note on Friday, August 22nd. Stifel Nicolaus reduced their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $69.00 to $83.00 in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Stock Down 1.2%

Shares of NYSE MKC opened at $69.00 on Friday. McCormick & Company, Incorporated has a 12-month low of $67.71 and a 12-month high of $86.24. The stock has a market cap of $18.52 billion, a PE ratio of 23.96, a P/E/G ratio of 3.43 and a beta of 0.65. 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 50-day moving average of $70.70 and a 200 day moving average of $74.53.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $1.66 billion for 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% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. McCormick & Company, Incorporated's payout ratio is 62.50%.

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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