McCormick & Company, Incorporated $MKC Shares Purchased by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec increased its holdings in McCormick & Company by 186.8% to $2.08 million, owning 25,319 shares following additional purchases during the first quarter.
• McCormick reported $1.66 billion in revenue and $0.69 earnings per share for the last quarter, exceeding analysts' expectations.
• A recent quarterly dividend of $0.45 was issued, representing a 2.5% yield, with the company maintaining a payout ratio of 62.50%.

Federation des caisses Desjardins du Quebec raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 186.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,319 shares of the company's stock after acquiring an additional 16,490 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in McCormick & Company, Incorporated were worth $2,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Analysts LLC purchased a new position in McCormick & Company, Incorporated during the 1st quarter valued at about $26,000. 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 purchased a new position in McCormick & Company, Incorporated during the 1st quarter valued at about $30,000. Salem Investment Counselors Inc. increased its holdings 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 acquiring an additional 336 shares in the last quarter. Finally, Stonebridge Financial Group LLC increased its holdings in McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MKC. UBS Group dropped 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 report on Friday, August 22nd. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $69.00 to $83.00 in a report on Wednesday, August 20th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Citigroup lowered 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. Finally, Stifel Nicolaus dropped their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Moderate Buy" and an average price target of $84.25.

McCormick & Company, Incorporated Trading Down 1.2%

Shares of MKC traded down $0.82 during mid-day trading on Friday, hitting $69.00. The company had a trading volume of 1,795,860 shares, compared to its average volume of 2,328,224. The business's 50-day simple moving average is $70.70 and its 200-day simple moving average is $74.57. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 1-year low of $67.71 and a 1-year high of $86.24. The stock has a market cap of $18.52 billion, a PE ratio of 23.96, a P/E/G ratio of 3.43 and a beta of 0.65.

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 (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the company earned $0.69 earnings per share. The company's quarterly revenue 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. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors 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 (DPR) is currently 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.