Trust Co. of Oklahoma Sells 5,970 Shares of McCormick & Company, Incorporated $MKC

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 trimmed its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 36.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of McCormick & Company, Incorporated by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company's stock valued at $2,623,552,000 after buying an additional 136,729 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of McCormick & Company, Incorporated by 28.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company's stock valued at $340,406,000 after buying an additional 920,618 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of McCormick & Company, Incorporated by 6.0% during the 1st 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 buying an additional 184,230 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company's stock valued at $232,264,000 after buying an additional 43,353 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of McCormick & Company, Incorporated by 2.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company's stock valued at $194,253,000 after buying an additional 60,604 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MKC. Wall Street Zen lowered shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. UBS Group decreased their target price on shares of 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 price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Citigroup reduced their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, June 17th. Finally, JPMorgan Chase & Co. raised 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 issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.25.

McCormick & Company, Incorporated Stock Performance

MKC traded down $0.28 during trading on Friday, hitting $65.97. The stock had a trading volume of 1,086,561 shares, compared to its average volume of 2,300,685. The firm has a market cap of $17.70 billion, a PE ratio of 22.94, a P/E/G ratio of 3.28 and a beta of 0.65. McCormick & Company, Incorporated has a 12 month low of $65.74 and a 12 month high of $86.24. 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 simple moving average of $70.21 and a 200-day simple moving average of $74.14.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) 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.