Hall Laurie J Trustee Raises Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Hall Laurie J Trustee increased its stake in McCormick & Company by 23.0%, now owning 56,240 shares valued at approximately $4.63 million.
• McCormick recently reported earnings per share of $0.69, exceeding the consensus estimate of $0.65, with revenue for the quarter at $1.66 billion.
• The company announced a quarterly dividend of $0.45 per share, representing a 2.6% dividend yield based on an annualized dividend of $1.80.

Hall Laurie J Trustee raised its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,240 shares of the company's stock after buying an additional 10,515 shares during the quarter. McCormick & Company, Incorporated makes up approximately 1.7% of Hall Laurie J Trustee's investment portfolio, making the stock its 20th largest position. Hall Laurie J Trustee's holdings in McCormick & Company, Incorporated were worth $4,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in MKC. Capital Analysts LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter valued at $26,000. Zions Bancorporation National Association UT purchased a new stake in McCormick & Company, Incorporated in the 1st quarter valued at $28,000. Wayfinding Financial LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter valued at $30,000. Salem Investment Counselors Inc. grew its holdings in McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after buying an additional 336 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in McCormick & Company, Incorporated in the 4th quarter valued at $33,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Up 1.1%

MKC traded up $0.80 during mid-day trading on Friday, hitting $70.93. 2,583,971 shares of the stock were exchanged, compared to its average volume of 2,298,129. The firm's fifty day moving average is $71.36 and its two-hundred day moving average is $74.92. McCormick & Company, Incorporated has a 1-year low of $68.23 and a 1-year high of $86.24. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The company has a market cap of $19.03 billion, a PE ratio of 24.63, a PEG ratio of 3.48 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted 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. 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 quarter in the prior year, the company earned $0.69 EPS. McCormick & Company, Incorporated's 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. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were paid 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 yield of 2.5%. McCormick & Company, Incorporated's dividend payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

MKC has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded 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, August 20th. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Citigroup decreased their price target on 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 decreased their price target on 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. Finally, UBS Group decreased their price target on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, McCormick & Company, Incorporated has an average rating of "Moderate Buy" and an average target price of $84.25.

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.