Gotham Asset Management LLC Boosts Stock Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Gotham Asset Management LLC increased its holdings in McCormick & Company by 37.4% in the first quarter, acquiring an additional 49,351 shares, bringing its total ownership to approximately $14.9 million.
• McCormick reported $0.69 EPS for the latest quarter, beating estimates and indicated a revenue increase of 1.0% year-over-year, with a guidance for FY 2025 set between $3.030-$3.080 EPS.
• The company's recent quarterly dividend payment was $0.45 per share, equating to an annualized dividend of $1.80 and a yield of 2.5%.

Gotham Asset Management LLC boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 37.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,134 shares of the company's stock after purchasing an additional 49,351 shares during the period. Gotham Asset Management LLC owned about 0.07% of McCormick & Company, Incorporated worth $14,909,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Analysts LLC bought a new position in McCormick & Company, Incorporated during the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT bought a new position in McCormick & Company, Incorporated during the first quarter valued at approximately $28,000. Wayfinding Financial LLC bought a new position 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 period. Finally, Ameriflex Group Inc. purchased a new stake in McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. Institutional investors own 79.74% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MKC. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Stifel Nicolaus cut 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 note on Tuesday, July 29th. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and raised their target price for the company from $69.00 to $83.00 in a research note on Wednesday, August 20th. Citigroup lowered their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. Finally, 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 research report on Friday, August 22nd. One 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 company's stock. According to MarketBeat, McCormick & Company, Incorporated has an average rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Price Performance

MKC stock traded down $0.45 during trading on Tuesday, hitting $69.70. 1,591,818 shares of the company's stock traded hands, compared to its average volume of 2,314,156. McCormick & Company, Incorporated has a 52 week low of $68.23 and a 52 week high of $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The business has a fifty day simple moving average of $71.25 and a 200 day simple moving average of $74.82. The stock has a market capitalization of $18.71 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 3.48 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. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business 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. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, July 7th. 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.