APG Asset Management N.V. Sells 33,958 Shares of McCormick & Company, Incorporated $MKC

Key Points

• APG Asset Management N.V. reduced its stake in McCormick & Company by 20.6% in the first quarter, owning 130,697 shares now valued at approximately $9.96 million.
• Recent research has led to mixed ratings for McCormick's stock, with price targets ranging from $76.00 to $84.25 and a consensus rating of "Moderate Buy".
• McCormick recently declared a quarterly dividend of $0.45 per share, translating to an annualized dividend of $1.80 and a dividend yield of 2.5%.

APG Asset Management N.V. trimmed its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 20.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,697 shares of the company's stock after selling 33,958 shares during the period. APG Asset Management N.V.'s holdings in McCormick & Company, Incorporated were worth $9,959,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Capital Analysts LLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $26,000. Zions Bancorporation National Association UT acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $28,000. Wayfinding Financial LLC acquired a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $30,000. Salem Investment Counselors Inc. increased its position in shares of McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after acquiring an additional 336 shares during the last quarter. Finally, Stonebridge Financial Group LLC increased its position in shares of McCormick & Company, Incorporated by 101.0% in the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after acquiring an additional 202 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock traded down $0.79 on Thursday, hitting $69.90. The stock had a trading volume of 3,423,032 shares, compared to its average volume of 2,338,311. McCormick & Company, Incorporated has a twelve month low of $68.23 and a twelve month high of $86.24. The business's 50 day moving average is $71.95 and its two-hundred day moving average is $75.23. 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 market cap of $18.76 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 3.47 and a beta of 0.66.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm'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. Analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were given a $0.45 dividend. The ex-dividend date of this dividend 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 presently 62.50%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MKC shares. UBS Group lowered their target price on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Friday, August 22nd. Citigroup lowered their target price 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. Stifel Nicolaus lowered 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. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, 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. One investment 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.