McCormick & Company, Incorporated $MKC Shares Purchased by Haverford Trust Co

Key Points

• Haverford Trust Co increased its stake in McCormick & Company, Incorporated by 4.8%, owning approximately $25.72 million worth of the company after acquiring additional shares in the first quarter.
• McCormick & Company, Incorporated reported an EPS of $0.69 for the latest quarter, exceeding analyst expectations, and has provided FY 2025 guidance of 3.030-3.080 EPS.
• The company announced a quarterly dividend of $0.45 per share, resulting in an annualized dividend yield of 2.5% and a payout ratio of 62.50%.

Haverford Trust Co raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,427 shares of the company's stock after buying an additional 14,381 shares during the quarter. Haverford Trust Co owned about 0.12% of McCormick & Company, Incorporated worth $25,716,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MKC. Capital Analysts LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter valued at about $26,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $28,000. Wayfinding Financial LLC purchased a new stake in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $30,000. Salem Investment Counselors Inc. grew 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 purchasing an additional 336 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Up 0.5%

Shares of MKC traded up $0.37 during trading on Wednesday, reaching $70.70. 1,941,899 shares of the company traded hands, compared to its average volume of 2,312,796. The stock has a 50-day simple moving average of $72.07 and a 200-day simple moving average of $75.31. The stock has a market cap of $18.97 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 3.46 and a beta of 0.66. McCormick & Company, Incorporated has a twelve month low of $68.23 and a twelve month high of $86.24. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business posted $0.69 EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current 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 paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. McCormick & Company, Incorporated's payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MKC. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $69.00 to $83.00 in a research note on Wednesday, August 20th. Citigroup reduced their price target 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. 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 report on Friday, August 22nd. Stifel Nicolaus cut their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research report on Tuesday, July 29th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $84.25.

About McCormick & Company, Incorporated

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.