Belpointe Asset Management LLC Purchases Shares of 7,643 McCormick & Company, Incorporated $MKC

Key Points

• Belpointe Asset Management LLC acquired 7,643 shares of McCormick & Company, valued at approximately $629,000, in the first quarter, reflecting increased interest from institutional investors.
• Analysts have set varying target prices for McCormick, with a range from $76.00 to $84.25, as **Stifel Nicolaus** downgraded their rating to "hold," while **JPMorgan Chase** upgraded it to "overweight."
• McCormick reported an earnings per share of **$0.69** for its last quarter, surpassing estimates slightly, and announced a **quarterly dividend of $0.45** per share, resulting in a 2.6% yield.

Belpointe Asset Management LLC purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,643 shares of the company's stock, valued at approximately $629,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fortis Capital Advisors LLC bought a new stake in McCormick & Company, Incorporated during the 1st quarter valued at $629,000. Intech Investment Management LLC increased its stake in McCormick & Company, Incorporated by 173.4% during the 1st quarter. Intech Investment Management LLC now owns 198,235 shares of the company's stock valued at $16,317,000 after purchasing an additional 125,737 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth $172,000. Ilmarinen Mutual Pension Insurance Co grew its stake in shares of McCormick & Company, Incorporated by 63.4% in the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 116,000 shares of the company's stock worth $9,548,000 after acquiring an additional 45,000 shares in the last quarter. Finally, SCS Capital Management LLC bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth $396,000. Institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

MKC has been the subject of several recent analyst reports. Stifel Nicolaus reduced 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. Wall Street Zen lowered shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research note on Saturday. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $69.00 to $83.00 in a research note on Wednesday, August 20th. Citigroup reduced their target price on shares of 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. Finally, UBS Group reduced 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 note on Friday, August 22nd. One equities 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. According to MarketBeat.com, McCormick & Company, Incorporated has an average rating of "Moderate Buy" and an average target price of $84.25.

McCormick & Company, Incorporated Price Performance

MKC opened at $69.00 on Friday. The firm has a market cap of $18.52 billion, a P/E ratio of 23.96, a PEG ratio of 3.43 and a beta of 0.65. McCormick & Company, Incorporated has a fifty-two week low of $67.71 and a fifty-two week 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 firm has a 50-day moving average of $70.70 and a 200 day moving average of $74.53.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company's revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm 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 expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.6%. 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.

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