Alamea Verwaltungs GmbH Purchases New Stake in McCormick & Company, Incorporated $MKC

Key Points

• Alamea Verwaltungs GmbH acquired 7,432 shares of McCormick & Company, Incorporated (NYSE:MKC), valued at approximately $612,000, during the first quarter.
• McCormick's stock has attracted various institutional investors, with 79.74% of shares owned by them, reflecting a strong interest in the company.
• The company reported $0.69 earnings per share for its latest quarter, outperforming analyst expectations, and has set its FY 2025 guidance at $3.030-3.080 EPS.

Alamea Verwaltungs GmbH purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,432 shares of the company's stock, valued at approximately $612,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP increased its position in McCormick & Company, Incorporated by 359.8% during the 1st quarter. Quarry LP now owns 2,883 shares of the company's stock worth $237,000 after purchasing an additional 2,256 shares in the last quarter. Connecticut Wealth Management LLC increased its position in McCormick & Company, Incorporated by 1.6% during the 1st quarter. Connecticut Wealth Management LLC now owns 16,464 shares of the company's stock worth $1,355,000 after purchasing an additional 259 shares in the last quarter. Certior Financial Group LLC increased its position in McCormick & Company, Incorporated by 6.1% during the 1st quarter. Certior Financial Group LLC now owns 3,331 shares of the company's stock worth $274,000 after purchasing an additional 191 shares in the last quarter. Vident Advisory LLC increased its position in McCormick & Company, Incorporated by 82.6% during the 1st quarter. Vident Advisory LLC now owns 7,298 shares of the company's stock worth $601,000 after purchasing an additional 3,302 shares in the last quarter. Finally, WPG Advisers LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter worth about $62,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group decreased their price target on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, August 22nd. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. Stifel Nicolaus reduced their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. Finally, Citigroup reduced their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of "Moderate Buy" and a consensus price target of $84.25.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $1.00 during trading on Wednesday, reaching $69.80. The stock had a trading volume of 1,795,828 shares, compared to its average volume of 2,302,383. McCormick & Company, Incorporated has a one year low of $68.23 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The stock has a market cap of $18.73 billion, a PE ratio of 24.24, a P/E/G ratio of 3.45 and a beta of 0.65. The firm's 50 day moving average price is $71.70 and its two-hundred day moving average price is $75.07.

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

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were issued a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. McCormick & Company, Incorporated's dividend payout ratio 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.