Fortis Capital Advisors LLC Buys Shares of 7,643 McCormick & Company, Incorporated $MKC

Key Points

• Fortis Capital Advisors LLC has acquired 7,643 shares of McCormick & Company, Incorporated (NYSE: MKC), valued at approximately $629,000, indicating growing institutional interest in the company.
• McCormick reported a quarterly earnings per share (EPS) of $0.69, exceeding expectations, while its revenue was $1.66 billion, slightly shy of analyst estimates.
• The company declared a quarterly dividend of $0.45 per share, equating to an annualized dividend of $1.80 and a yield of 2.6%.

Fortis Capital Advisors LLC acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,643 shares of the company's stock, valued at approximately $629,000.

Several other institutional investors and hedge funds have also 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 $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at $28,000. Wayfinding Financial LLC purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at $30,000. Salem Investment Counselors Inc. lifted its position in shares of McCormick & Company, Incorporated by 610.9% in the first 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, Ameriflex Group Inc. purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $33,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $68.58 on Thursday. The firm has a market capitalization of $18.40 billion, a PE ratio of 23.81, a P/E/G ratio of 3.42 and a beta of 0.65. 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 business has a 50-day moving average of $70.94 and a two-hundred day moving average of $74.74. McCormick & Company, Incorporated has a 12 month low of $67.71 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The firm's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share 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 paid 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 currently 62.50%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MKC. UBS Group reduced their price objective on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Friday, August 22nd. Stifel Nicolaus reduced their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. Citigroup reduced their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Finally, Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research 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 issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.25.

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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