Amundi Purchases 24,203 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Amundi increased its stake in McCormick & Company by 1.8%, acquiring an additional 24,203 shares, which brings its total holdings to approximately 1.4 million shares valued at $112.9 million.
• McCormick reported a quarterly earnings per share (EPS) of $0.69, exceeding the consensus estimate of $0.65, with revenues of $1.66 billion. This marks a 1.0% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.45 per share, translating to an annualized dividend of $1.80 and a dividend yield of 2.5%.

Amundi lifted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,396,649 shares of the company's stock after acquiring an additional 24,203 shares during the quarter. Amundi owned approximately 0.52% of McCormick & Company, Incorporated worth $112,905,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. 1 North Wealth Services LLC purchased a new position in McCormick & Company, Incorporated during the first quarter valued at approximately $62,000. Federation des caisses Desjardins du Quebec lifted its stake in shares of McCormick & Company, Incorporated by 186.8% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 25,319 shares of the company's stock valued at $2,084,000 after buying an additional 16,490 shares in the last quarter. Cigna Investments Inc. New purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at $210,000. Focus Partners Advisor Solutions LLC boosted its holdings in McCormick & Company, Incorporated by 29.2% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 18,789 shares of the company's stock worth $1,547,000 after buying an additional 4,241 shares during the period. Finally, Flputnam Investment Management Co. increased its stake in McCormick & Company, Incorporated by 6.0% in the 1st quarter. Flputnam Investment Management Co. now owns 6,392 shares of the company's stock worth $526,000 after buying an additional 360 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded up $1.26 during mid-day trading on Thursday, reaching $69.84. 2,007,982 shares of the company's stock traded hands, compared to its average volume of 2,325,772. McCormick & Company, Incorporated has a 12-month low of $67.71 and a 12-month high of $86.24. 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 stock has a 50 day moving average of $70.83 and a two-hundred day moving average of $74.67. The company has a market cap of $18.74 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 3.37 and a beta of 0.65.

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 for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's payout ratio is presently 62.50%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. Citigroup dropped their price target on 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. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. UBS Group dropped their target price on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a research report on Friday, August 22nd. Finally, Stifel Nicolaus cut their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Moderate Buy" and an average target price of $84.25.

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.