Jacobs & Co. CA Has $10.01 Million Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Jacobs & Co. CA reduced its holdings in McCormick & Company by 10.3%, selling 15,160 shares and bringing its total to 131,960 shares worth approximately $10 million.
• Several institutional investors, including Vanguard Group and T. Rowe Price, increased their stakes in McCormick during the first quarter, showcasing a strong interest in the company.
• McCormick & Company reported earnings per share (EPS) of $0.69 for the last quarter, beating expectations, and announced a quarterly dividend of $0.45, reflecting a 2.6% dividend yield.

Jacobs & Co. CA lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 10.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 131,960 shares of the company's stock after selling 15,160 shares during the quarter. Jacobs & Co. CA's holdings in McCormick & Company, Incorporated were worth $10,005,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Analysts LLC bought a new stake in McCormick & Company, Incorporated in the 1st quarter valued at $26,000. Zions Bancorporation National Association UT acquired a new stake in shares of McCormick & Company, Incorporated during the 1st quarter worth about $28,000. Wayfinding Financial LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 1st quarter worth about $30,000. Salem Investment Counselors Inc. increased its position in shares of McCormick & Company, Incorporated by 610.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after purchasing an additional 336 shares in the last quarter. Finally, Stonebridge Financial Group LLC increased its position in shares of McCormick & Company, Incorporated by 101.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Down 4.2%

Shares of NYSE:MKC traded down $2.88 during mid-day trading on Monday, reaching $66.07. The stock had a trading volume of 3,202,655 shares, compared to its average volume of 2,332,523. The firm has a market cap of $17.73 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65. The firm has a 50 day simple moving average of $70.56 and a two-hundred day simple moving average of $74.37. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a twelve month low of $65.95 and a twelve month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.50%.

Wall Street Analyst Weigh In

MKC has been the topic of a number of research analyst reports. 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 report on Tuesday, June 17th. Wall Street Zen lowered shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a report on Saturday. 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 report on Tuesday, July 29th. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $69.00 to $83.00 in a report on Wednesday, August 20th. Finally, UBS Group decreased their price objective on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.