Stratos Wealth Partners LTD. Grows Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Stratos Wealth Partners LTD. increased its holdings in McCormick & Company by 12.8% during the second quarter, now owning 99,598 shares valued at approximately $7.55 million.
• McCormick recently reported $1.72 billion in revenue for the quarter, exceeding analyst estimates, with $0.85 earnings per share, above the anticipated $0.82.
• A quarterly dividend of $0.45 was announced, to be paid on October 27th, with a current dividend yield of 2.7%.

Stratos Wealth Partners LTD. grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,598 shares of the company's stock after buying an additional 11,311 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in McCormick & Company, Incorporated were worth $7,552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Analysts LLC purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $26,000. Zions Bancorporation National Association UT purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at 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. Stonebridge Financial Group LLC boosted its stake in shares of McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after buying an additional 202 shares during the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at approximately $43,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $65.86, for a total value of $3,293,000.00. Following the sale, the insider directly owned 246,762 shares of the company's stock, valued at $16,251,745.32. This trade represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $67.58 on Friday. 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. The business's fifty day moving average price is $68.15 and its two-hundred day moving average price is $71.92. The firm has a market capitalization of $18.14 billion, a PE ratio of 23.38, a P/E/G ratio of 3.86 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its 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. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $0.83 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on MKC shares. Deutsche Bank Aktiengesellschaft reduced their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a "hold" rating for the company in a research note on Wednesday, October 8th. Jefferies Financial Group reduced their price objective on McCormick & Company, Incorporated from $84.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, October 8th. UBS Group reduced their price objective on McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 8th. Stifel Nicolaus reduced their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a "hold" rating on the stock in a research note on Wednesday, October 8th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of McCormick & Company, Incorporated in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $78.22.

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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