Ilmarinen Mutual Pension Insurance Co Acquires 45,000 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its stake in McCormick & Company by 63.4% during the first quarter, reaching 116,000 shares worth approximately $9.55 million.
• McCormick recently reported quarterly earnings of $0.69 per share, exceeding analysts' expectations of $0.65, and had a revenue of $1.66 billion for the quarter.
• The company's dividend yield is currently 2.6%, with a recent quarterly dividend of $0.45 paid to shareholders.

Ilmarinen Mutual Pension Insurance Co lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 63.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,000 shares of the company's stock after purchasing an additional 45,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in McCormick & Company, Incorporated were worth $9,548,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. IFM Investors Pty Ltd raised its stake in shares of McCormick & Company, Incorporated by 13.3% during the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company's stock worth $4,091,000 after purchasing an additional 5,829 shares during the period. Sowell Financial Services LLC bought a new stake in McCormick & Company, Incorporated in the 1st quarter valued at about $260,000. Stratos Wealth Partners LTD. raised its stake in McCormick & Company, Incorporated by 5.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company's stock valued at $7,267,000 after acquiring an additional 4,771 shares during the period. Retirement Guys Formula LLC bought a new stake in McCormick & Company, Incorporated in the 1st quarter valued at about $988,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in McCormick & Company, Incorporated by 10.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company's stock valued at $3,464,000 after acquiring an additional 3,877 shares during the period. 79.74% of the stock is currently owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $69.70 on Wednesday. The firm has a market cap of $18.71 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 3.44 and a beta of 0.65. McCormick & Company, Incorporated has a fifty-two week low of $68.23 and a fifty-two 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 50 day moving average price of $71.10 and a 200-day moving average price of $74.79.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The company reported $0.69 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 company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $0.69 earnings per share. The firm'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 research analysts predict 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. Shareholders of record on Monday, July 7th were given 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 2.6%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. 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 report on Friday, August 22nd. JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their price target for the company from $69.00 to $83.00 in a research report on Wednesday, August 20th. Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. 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. Finally, Citigroup decreased their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of "Moderate Buy" and a consensus target price 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.

Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Company, Incorporated (NYSE:MKC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.