BNP Paribas Financial Markets Reduces Stock Holdings in McCormick & Company, Incorporated $MKC

Key Points

• BNP Paribas Financial Markets has reduced its stake in McCormick & Company by 9.6%, selling 50,787 shares and now holding 476,443 shares valued at approximately $39.2 million.
• Recent analyst ratings for McCormick include upgrades from JPMorgan Chase (target price raised from $69 to $83) and neutral ratings from Citigroup and UBS.
• McCormick announced a quarterly dividend of $0.45 per share, reflecting an annualized dividend yield of 2.6%.

BNP Paribas Financial Markets lessened its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 9.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 476,443 shares of the company's stock after selling 50,787 shares during the period. BNP Paribas Financial Markets owned 0.18% of McCormick & Company, Incorporated worth $39,216,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Capital Analysts LLC bought a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated in the 1st quarter valued at $28,000. Wayfinding Financial LLC acquired a new stake in McCormick & Company, Incorporated in the 1st quarter valued at $30,000. Salem Investment Counselors Inc. increased its stake in McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after purchasing an additional 336 shares in the last quarter. Finally, Stonebridge Financial Group LLC raised its holdings in McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after buying an additional 202 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and raised their price target for the company from $69.00 to $83.00 in a research report on Wednesday, August 20th. Citigroup cut 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. UBS Group lowered their price objective on 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. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.25.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded up $1.00 on Wednesday, reaching $69.80. 1,795,828 shares of the company's stock traded hands, compared to its average volume of 2,302,383. 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 has a market cap of $18.73 billion, a PE ratio of 24.24, a PEG ratio of 3.45 and a beta of 0.65. The stock's 50 day simple moving average is $71.62 and its two-hundred day simple moving average is $75.03. McCormick & Company, Incorporated has a 52-week low of $68.23 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted 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 business 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 business's revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous 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, analysts forecast 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. The ex-dividend date 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 presently 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.