Candriam S.C.A. Buys 44,674 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Candriam S.C.A. increased its holdings in McCormick & Company by 26.7%, acquiring an additional 44,674 shares, bringing its total ownership to 212,228 shares worth approximately $17.5 million.
• McCormick reported earnings of $0.69 per share, exceeding expectations, with revenue of $1.66 billion, marking a 1% increase year-on-year.
• The company has announced a quarterly dividend of $0.45 per share, translating to an annual yield of 2.6% and a dividend payout ratio of 62.5%.

Candriam S.C.A. increased its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 26.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 212,228 shares of the company's stock after buying an additional 44,674 shares during the period. Candriam S.C.A. owned about 0.08% of McCormick & Company, Incorporated worth $17,468,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Capital Analysts LLC purchased a new stake in McCormick & Company, Incorporated during the first quarter worth $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 position in McCormick & Company, Incorporated during the first quarter worth about $30,000. Salem Investment Counselors Inc. boosted its holdings in McCormick & Company, Incorporated by 610.9% in 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 during the last quarter. Finally, Ameriflex Group Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Up 1.1%

Shares of NYSE:MKC opened at $69.8120 on Thursday. 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 company has a fifty day simple moving average of $72.31 and a 200 day simple moving average of $75.50. The firm has a market cap of $18.74 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 3.32 and a beta of 0.66. McCormick & Company, Incorporated has a 12-month low of $68.23 and a 12-month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. 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, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently commented on MKC. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price for the company. Citigroup cut their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and increased their price target for the company from $69.00 to $83.00 in a report on Wednesday. Finally, Stifel Nicolaus cut their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a report 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 assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $84.75.

McCormick & Company, Incorporated 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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