McCormick & Company, Incorporated $MKC Shares Bought by Alecta Tjanstepension Omsesidigt

Key Points

• Alecta Tjanstepension Omsesidigt increased its stake in McCormick & Company, Incorporated by 94.7%, acquiring 1,779,000 shares valued at approximately $134.80 million.
• Recent analyst ratings for McCormick show mixed sentiments, with upgrades from JPMorgan Chase while UBS and Wall Street Zen issued price target reductions and downgrades.
• The company reported earnings of $0.69 per share for the last quarter, slightly exceeding analysts' estimates, and announced a quarterly dividend of $0.45 per share, indicating a healthy dividend yield of 2.7%.

Alecta Tjanstepension Omsesidigt increased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 94.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,779,000 shares of the company's stock after buying an additional 865,500 shares during the quarter. Alecta Tjanstepension Omsesidigt owned about 0.66% of McCormick & Company, Incorporated worth $134,795,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of McCormick & Company, Incorporated by 0.4% during the first quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company's stock valued at $2,623,552,000 after buying an additional 136,729 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in McCormick & Company, Incorporated by 28.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company's stock valued at $340,406,000 after purchasing an additional 920,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in McCormick & Company, Incorporated by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,230,719 shares of the company's stock valued at $265,920,000 after purchasing an additional 184,230 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in McCormick & Company, Incorporated by 1.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company's stock valued at $232,264,000 after purchasing an additional 43,353 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in McCormick & Company, Incorporated by 2.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company's stock valued at $194,253,000 after purchasing an additional 60,604 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKC has been the topic of several recent research reports. Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday, July 29th. Citigroup lowered their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, June 17th. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their price target for the company from $69.00 to $83.00 in a report on Wednesday, August 20th. UBS Group lowered their price target on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. Finally, Wall Street Zen downgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded down $0.71 during trading hours on Friday, reaching $65.54. The stock had a trading volume of 4,423,613 shares, compared to its average volume of 2,193,977. McCormick & Company, Incorporated has a twelve month low of $65.47 and a twelve month high of $86.24. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The stock's 50 day moving average is $70.08 and its 200 day moving average is $74.02. The firm has a market capitalization of $17.59 billion, a PE ratio of 22.76, a PEG ratio of 3.25 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly 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. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The company's revenue for the quarter was up 1.0% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared 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. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is 62.50%.

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.