Intech Investment Management LLC Has $16.32 Million Stock Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Intech Investment Management LLC significantly increased its stake in McCormick & Company by purchasing an additional 125,737 shares, raising its ownership by 173.4% to a total of 198,235 shares worth approximately $16.3 million.
• Multiple analyst ratings have been updated for McCormick stock, with JPMorgan raising its rating to "overweight" and increasing the price target to $83, while other firms have lowered their targets.
• McCormick's recent earnings report showed a slight revenue increase year-over-year with EPS of $0.69, surpassing analysts' expectations, and a quarterly dividend of $0.45 was recently paid, indicating a 2.6% yield.

Intech Investment Management LLC boosted its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 173.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 198,235 shares of the company's stock after buying an additional 125,737 shares during the quarter. Intech Investment Management LLC owned approximately 0.07% of McCormick & Company, Incorporated worth $16,317,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. EagleClaw Capital Managment LLC lifted its position in shares of McCormick & Company, Incorporated by 0.4% during the 1st quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company's stock valued at $3,018,000 after acquiring an additional 135 shares during the period. Sage Capital Advisors llc lifted its position in shares of McCormick & Company, Incorporated by 2.8% during the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock valued at $413,000 after acquiring an additional 137 shares during the period. ST Germain D J Co. Inc. lifted its position in shares of McCormick & Company, Incorporated by 1.8% during the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock valued at $643,000 after acquiring an additional 140 shares during the period. Miracle Mile Advisors LLC lifted its position in shares of McCormick & Company, Incorporated by 1.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock valued at $912,000 after acquiring an additional 146 shares during the period. Finally, Signal Advisors Wealth LLC lifted its position in shares of McCormick & Company, Incorporated by 3.5% during the 1st quarter. Signal Advisors Wealth LLC now owns 4,802 shares of the company's stock valued at $395,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stifel Nicolaus dropped their price objective on 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. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $69.00 to $83.00 in a report on Wednesday, August 20th. UBS Group dropped their target price 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. Finally, Citigroup dropped their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. One equities research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Trading Down 1.2%

McCormick & Company, Incorporated stock traded down $0.82 during trading hours on Friday, hitting $69.00. The stock had a trading volume of 1,795,860 shares, compared to its average volume of 2,328,224. 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 cap of $18.52 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 3.43 and a beta of 0.65. McCormick & Company, Incorporated has a one year low of $67.71 and a one year high of $86.24. The business's 50 day simple moving average is $70.70 and its 200-day simple moving average is $74.57.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, equities analysts predict 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. 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 annualized dividend and a dividend yield of 2.6%. McCormick & Company, Incorporated's dividend payout ratio is presently 62.50%.

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.