TrueMark Investments LLC Takes $1.51 Million Position in McCormick & Company, Incorporated $MKC

Key Points

• TrueMark Investments LLC has taken a significant position in McCormick & Company, Incorporated, acquiring $1.51 million worth of shares during the second quarter.
• Major shareholder Lawrence Erik Kurzius sold 50,000 shares for approximately $3.29 million, reducing his stake in the company by 16.85%.
• McCormick reported a quarterly EPS of $0.85, slightly surpassing analyst estimates, and announced a dividend of $0.45 per share to be paid later this month.

TrueMark Investments LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,845 shares of the company's stock, valued at approximately $1,505,000.

Several other hedge funds have also recently modified their holdings of MKC. Capital Analysts LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter valued at about $26,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated during the first quarter valued at about $28,000. Wayfinding Financial LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter valued at about $30,000. Stonebridge Financial Group LLC increased its holdings 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 acquiring an additional 202 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of McCormick & Company, Incorporated during the second quarter valued at about $43,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction that occurred 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 owned 246,762 shares in the company, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 23.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MKC shares. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Weiss Ratings reiterated a "hold (c-)" rating on shares of McCormick & Company, Incorporated in a research report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft dropped their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a "hold" rating on the stock in a research report on Wednesday, October 8th. Sanford C. Bernstein dropped their target price on McCormick & Company, Incorporated from $102.00 to $93.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group dropped their target price on McCormick & Company, Incorporated from $84.00 to $78.00 and set a "buy" rating on the stock in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus price target of $78.22.

McCormick & Company, Incorporated Trading Up 1.5%

McCormick & Company, Incorporated stock opened at $67.58 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The stock's 50 day simple moving average is $68.15 and its two-hundred day simple moving average is $71.85. The firm has a market cap of $18.14 billion, a PE ratio of 23.38, a P/E/G ratio of 3.91 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 EPS 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm posted $0.83 EPS. The business's quarterly revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed 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. This represents a $1.80 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated's dividend payout ratio is currently 62.28%.

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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