Invesco Ltd. Purchases 1,158,423 Shares of McCormick & Company, Incorporated $MKC

Invesco Ltd. grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 44.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,737,793 shares of the company’s stock after purchasing an additional 1,158,423 shares during the quarter. Invesco Ltd. owned about 1.39% of McCormick & Company, Incorporated worth $283,399,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MKC. Norges Bank bought a new position in McCormick & Company, Incorporated in the second quarter valued at approximately $249,087,000. Alyeska Investment Group L.P. grew its position in shares of McCormick & Company, Incorporated by 1,360.5% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock valued at $129,647,000 after purchasing an additional 1,467,254 shares during the period. 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 worth $340,406,000 after acquiring an additional 920,618 shares in the last quarter. Alecta Tjanstepension Omsesidigt increased its holdings in McCormick & Company, Incorporated by 94.7% during the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock worth $134,795,000 after purchasing an additional 865,500 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of McCormick & Company, Incorporated during the first quarter worth about $55,643,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the 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 directly owned 246,762 shares of the company’s stock, valued at $16,251,745.32. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brendan M. Foley sold 57,144 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the completion of the sale, the chief executive officer owned 108,652 shares of the company’s stock, valued at $7,123,225.12. The trade was a 34.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 146,158 shares of company stock worth $9,557,324 in the last quarter. 23.80% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Stock Down 0.3%

Shares of MKC opened at $63.25 on Friday. The stock’s 50-day moving average price is $66.09 and its two-hundred day moving average price is $69.49. McCormick & Company, Incorporated has a 12 month low of $63.11 and a 12 month high of $86.24. The company has a market capitalization of $16.97 billion, a PE ratio of 21.88, a PEG ratio of 4.38 and a beta of 0.62. 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 (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business posted $0.83 EPS. The business’s 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. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be paid a $0.48 dividend. The ex-dividend date is Monday, December 29th. This represents a $1.92 annualized dividend and a dividend yield of 3.0%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 62.28%.

Analyst Upgrades and Downgrades

MKC has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of 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. Sanford C. Bernstein cut their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating for the company in a report 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 for the company in a report on Wednesday, October 8th. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Finally, Barclays lowered their price objective on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus target price of $78.22.

McCormick & Company, Incorporated 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.