Financiere des Professionnels Fonds d investissement inc. Sells 5,021 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Financiere des Professionnels Fonds d investissement inc. sold 5,021 shares of McCormick & Company, Incorporated, reducing its holdings by 6.1% to a total of 76,628 shares valued at approximately $5.81 million.
• Analysts have mixed opinions on McCormick, with a consensus rating of "Moderate Buy" and an average price target of $84.25, while several institutions recently adjusted their price targets downward and changed ratings.
• McCormick recently reported earnings of $0.69 per share, exceeding expectations and highlighting a revenue increase of 1.0% year-over-year, although slightly below analyst estimates.

Financiere des Professionnels Fonds d investissement inc. decreased its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,628 shares of the company's stock after selling 5,021 shares during the period. Financiere des Professionnels Fonds d investissement inc.'s holdings in McCormick & Company, Incorporated were worth $5,810,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MKC. Capital Analysts LLC purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at about $26,000. Zions Bancorporation National Association UT bought a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $28,000. Wayfinding Financial LLC bought a new stake in McCormick & Company, Incorporated during the first quarter valued at approximately $30,000. Salem Investment Counselors Inc. lifted its position in McCormick & Company, Incorporated by 610.9% during the first 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. bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $69.00 to $83.00 in a research report on Wednesday, August 20th. Wall Street Zen lowered shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. UBS Group lowered their price objective 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. Citigroup decreased their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. Finally, Stifel Nicolaus decreased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Trading Down 1.1%

Shares of NYSE:MKC traded down $0.71 on Friday, hitting $65.54. The company had a trading volume of 4,423,613 shares, compared to its average volume of 2,319,465. The firm's 50-day simple moving average is $70.21 and its two-hundred day simple moving average is $74.14. McCormick & Company, Incorporated has a 1 year low of $65.47 and a 1 year high of $86.24. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $17.59 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 3.28 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 for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the firm earned $0.69 EPS. The company's 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. Equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were paid a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated's payout ratio is presently 62.50%.

About McCormick & Company, Incorporated

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.