AG2R LA Mondiale Gestion D Actifs Takes $948,000 Position in McCormick & Company, Incorporated $MKC

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired a new position in McCormick & Company with an investment of approximately $948,000 for 11,521 shares.
• Multiple analysts have recently downgraded their ratings on McCormick, with UBS lowering the price target from $83.00 to $79.00 and Citigroup also reducing their target from $80.00 to $77.00.
• McCormick announced a quarterly dividend of $0.45 per share, resulting in an annualized dividend yield of 2.6%.

AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,521 shares of the company's stock, valued at approximately $948,000.

Several other large investors have also bought and sold shares of MKC. Capital Analysts LLC acquired a new position in McCormick & Company, Incorporated during the first quarter worth about $26,000. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $28,000. Wayfinding Financial LLC bought a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $30,000. Salem Investment Counselors Inc. increased its position in McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after purchasing an additional 336 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at approximately $33,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on MKC. UBS Group lowered their price target on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. Wall Street Zen lowered McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday. Citigroup dropped their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $69.00 to $83.00 in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus lowered their price objective on 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Stock Down 1.2%

Shares of MKC opened at $69.00 on Monday. The stock's 50-day moving average price is $70.70 and its two-hundred day moving average price is $74.48. McCormick & Company, Incorporated has a 12 month low of $67.71 and a 12 month high of $86.24. The company has a market capitalization of $18.52 billion, a PE ratio of 23.96, a PEG ratio of 3.38 and a beta of 0.65. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.66 billion during the quarter, compared to the consensus estimate 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 was up 1.0% compared to the same quarter last year. 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, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 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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