PDS Planning Inc Buys Shares of 3,992 McCormick & Company, Incorporated $MKC

Key Points

• PDS Planning Inc acquired a new stake in McCormick & Company by purchasing 3,992 shares, valued at around $303,000.
• The company recently reported quarterly earnings of $0.85 per share, exceeding analyst expectations, with a revenue of $1.72 billion.
• McCormick & Company announced a quarterly dividend of $0.45 per share, providing a 2.7% dividend yield for investors.

PDS Planning Inc bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,992 shares of the company's stock, valued at approximately $303,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of McCormick & Company, Incorporated by 0.4% during the first quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company's stock valued at $2,623,552,000 after acquiring an additional 136,729 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position 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 position 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 position 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 position 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. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Up 0.9%

Shares of McCormick & Company, Incorporated stock opened at $66.70 on Monday. The company's fifty day simple moving average is $68.53 and its 200-day simple moving average is $72.33. The stock has a market capitalization of $17.90 billion, a PE ratio of 23.08, a P/E/G ratio of 3.86 and a beta of 0.63. 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.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The company's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be paid 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 payout ratio is 62.28%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, October 8th. The shares were 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 approximately $16,251,745.32. The trade was a 16.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 23.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MKC shares. UBS Group reduced their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating for the company in a research report on Wednesday, October 8th. Jefferies Financial Group reduced their price target on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, October 8th. Citigroup reduced their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a "hold" rating on the stock in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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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