5,880 Shares in McCormick & Company, Incorporated $MKC Bought by United Services Automobile Association

Key Points

• United Services Automobile Association acquired 5,880 shares of McCormick & Company, valued at approximately $479,000, adding to the significant institutional ownership of 79.74% in the company.
• Analysts have mixed ratings for McCormick's stock, with one Strong Buy, four Buy, and five Hold ratings, and an average target price of $84.25.
• McCormick recently announced a quarterly dividend of $0.45 per share, representing an annualized dividend of $1.80, with a yield of 2.6% and a payout ratio of 62.50%.

United Services Automobile Association acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,880 shares of the company's stock, valued at approximately $479,000.

Several other large investors have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings 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 worth $194,253,000 after buying an additional 60,604 shares during the period. Jones Financial Companies Lllp boosted its holdings in McCormick & Company, Incorporated by 132.7% in the 1st quarter. Jones Financial Companies Lllp now owns 43,595 shares of the company's stock valued at $3,588,000 after purchasing an additional 24,862 shares during the period. Select Equity Group L.P. boosted its holdings in McCormick & Company, Incorporated by 13.5% in the 1st quarter. Select Equity Group L.P. now owns 1,560,869 shares of the company's stock valued at $128,475,000 after purchasing an additional 185,437 shares during the period. Raab & Moskowitz Asset Management LLC boosted its holdings in McCormick & Company, Incorporated by 5.0% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company's stock valued at $289,000 after purchasing an additional 167 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in McCormick & Company, Incorporated by 1.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 33,896 shares of the company's stock valued at $2,790,000 after purchasing an additional 498 shares during the period. 79.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MKC. UBS Group dropped their price objective 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. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $69.00 to $83.00 in a research note on Wednesday, August 20th. Citigroup dropped 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. Stifel Nicolaus dropped 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. Finally, Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $84.25.

McCormick & Company, Incorporated Trading Down 1.5%

Shares of McCormick & Company, Incorporated stock opened at $68.58 on Thursday. The stock has a market capitalization of $18.40 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 3.42 and a beta of 0.65. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The company has a 50-day simple moving average of $70.94 and a 200 day simple moving average of $74.74. McCormick & Company, Incorporated has a 12-month low of $67.71 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a dividend of $0.45 per share. The ex-dividend date was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.50%.

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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