Goldman Sachs Group Inc. Has $194.25 Million Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Goldman Sachs Group Inc. increased its stake in McCormick & Company, now owning approximately $194.25 million in shares after acquiring 60,604 additional shares in Q1.
• Analysts have set a consensus target price of $84.25 for McCormick's stock, with ratings ranging from "Strong Buy" to "Hold" among various brokerages.
• The company reported a net margin of 11.50% and is guiding for an EPS of 3.030-3.080 for FY 2025, with recent quarterly earnings exceeding consensus estimates.

Goldman Sachs Group Inc. lifted its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,360,020 shares of the company's stock after acquiring an additional 60,604 shares during the period. Goldman Sachs Group Inc. owned approximately 0.88% of McCormick & Company, Incorporated worth $194,253,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MKC. Jones Financial Companies Lllp increased its holdings in shares of McCormick & Company, Incorporated by 132.7% during the 1st quarter. Jones Financial Companies Lllp now owns 43,595 shares of the company's stock worth $3,588,000 after purchasing an additional 24,862 shares during the period. Select Equity Group L.P. grew its position in McCormick & Company, Incorporated by 13.5% during the first quarter. Select Equity Group L.P. now owns 1,560,869 shares of the company's stock worth $128,475,000 after buying an additional 185,437 shares in the last quarter. Raab & Moskowitz Asset Management LLC grew its position in McCormick & Company, Incorporated by 5.0% during the first quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company's stock worth $289,000 after buying an additional 167 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in McCormick & Company, Incorporated by 1.5% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 33,896 shares of the company's stock valued at $2,790,000 after acquiring an additional 498 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in McCormick & Company, Incorporated by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company's stock valued at $2,854,000 after acquiring an additional 925 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MKC. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $69.00 to $83.00 in a report on Wednesday, August 20th. Citigroup decreased their price target 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. Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday, July 29th. UBS Group dropped 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 research note on Friday, August 22nd. Finally, Wall Street Zen upgraded shares of 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $68.58 on Thursday. 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's fifty day moving average price is $70.94 and its two-hundred day moving average price is $74.74. McCormick & Company, Incorporated has a fifty-two week low of $67.71 and a fifty-two week high of $86.24. The stock has a market capitalization of $18.40 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 3.42 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate 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 company earned $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were issued a dividend of $0.45 per share. 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 presently 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.

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