Gulf International Bank UK Ltd Cuts Position in McCormick & Company, Incorporated $MKC

Key Points

• Gulf International Bank UK Ltd has decreased its stake in McCormick & Company by 31.6%, now holding 13,535 shares valued at approximately $1.11 million.
• The company reported a quarterly EPS of $0.69, exceeding analysts' expectations of $0.65, while revenue for the quarter was $1.66 billion, slightly below projections.
• McCormick's recent dividend announced was $0.45 per share, resulting in an annualized dividend yield of 2.6%.

Gulf International Bank UK Ltd decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 31.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,535 shares of the company's stock after selling 6,254 shares during the quarter. Gulf International Bank UK Ltd's holdings in McCormick & Company, Incorporated were worth $1,114,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. National Pension Service raised its position in McCormick & Company, Incorporated by 8.4% in the first quarter. National Pension Service now owns 422,533 shares of the company's stock worth $34,779,000 after acquiring an additional 32,726 shares in the last quarter. Russell Investments Group Ltd. raised its position in McCormick & Company, Incorporated by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 161,084 shares of the company's stock worth $13,246,000 after acquiring an additional 16,492 shares in the last quarter. Resona Asset Management Co. Ltd. raised its position in McCormick & Company, Incorporated by 7.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 104,323 shares of the company's stock worth $8,555,000 after acquiring an additional 7,360 shares in the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. raised its position in McCormick & Company, Incorporated by 9.7% in the first quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. now owns 3,400 shares of the company's stock worth $280,000 after acquiring an additional 300 shares in the last quarter. Finally, Trillium Asset Management LLC raised its position in McCormick & Company, Incorporated by 14.6% in the first quarter. Trillium Asset Management LLC now owns 535,065 shares of the company's stock worth $44,041,000 after acquiring an additional 68,219 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded up $0.9910 during trading hours on Thursday, reaching $70.8710. 990,455 shares of the company traded hands, compared to its average volume of 2,292,678. 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 stock has a market capitalization of $19.02 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 3.32 and a beta of 0.66. McCormick & Company, Incorporated has a fifty-two week low of $68.23 and a fifty-two week high of $86.24. The stock has a fifty day simple moving average of $72.31 and a 200 day simple moving average of $75.50.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $0.69 EPS. The firm'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. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.

Analyst Ratings Changes

MKC has been the topic of several research reports. UBS Group initiated coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. Stifel Nicolaus lowered their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday, July 29th. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their target price for the company from $69.00 to $83.00 in a report on Wednesday. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Citigroup lowered their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, June 17th. 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 stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.75.

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.