Element Capital Management LLC Takes $2.78 Million Position in McCormick & Company, Incorporated $MKC

Key Points

• Element Capital Management LLC acquired 33,728 shares of McCormick & Company, worth approximately $2.8 million, indicating strong institutional interest in the company.
• McCormick recently reported earnings per share of $0.69 for the last quarter, which exceeded analysts' expectations, though revenue was slightly below estimates.
• The company's stock has seen a recent decline, down 0.5%, and analysts maintain a mixed outlook with a range of ratings from "sell" to "strong buy."

Element Capital Management LLC purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,728 shares of the company's stock, valued at approximately $2,776,000.

Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in McCormick & Company, Incorporated during the 1st quarter valued at about $28,000. Wayfinding Financial LLC acquired a new stake in McCormick & Company, Incorporated in the 1st quarter worth approximately $30,000. Salem Investment Counselors Inc. boosted its stake in McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after purchasing an additional 336 shares in the last quarter. Stonebridge Financial Group LLC boosted its stake in McCormick & Company, Incorporated by 101.0% in the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after purchasing an additional 202 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Up 1.0%

Shares of MKC stock traded up $0.6760 during trading on Wednesday, reaching $69.7260. The company's stock had a trading volume of 745,877 shares, compared to its average volume of 2,289,985. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 3.29 and a beta of 0.66. The stock's 50-day moving average price is $72.43 and its 200 day moving average price is $75.54. McCormick & Company, Incorporated has a 1-year low of $68.23 and a 1-year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the previous year, the business posted $0.69 earnings per share. The business's quarterly revenue was up 1.0% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared 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. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

MKC has been the topic of several recent research reports. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Citigroup decreased 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. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $69.00 to $83.00 in a research report on Wednesday. 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 report on Tuesday, July 29th. Finally, UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price for the company. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.75.

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.