Jones Financial Companies Lllp Has $3.59 Million Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Jones Financial Companies Lllp increased its holdings in McCormick & Company by 132.7% in Q1, now owning 43,595 shares valued at approximately $3.59 million.
• Several analysts have recently adjusted their ratings on McCormick; notably, JPMorgan upgraded the stock to "overweight" with a target price of $83.00.
• The company announced a quarterly dividend of $0.45 per share, which translates to an annualized yield of 2.6%.

Jones Financial Companies Lllp grew its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 132.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,595 shares of the company's stock after purchasing an additional 24,862 shares during the quarter. Jones Financial Companies Lllp's holdings in McCormick & Company, Incorporated were worth $3,588,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. EagleClaw Capital Managment LLC boosted its stake in McCormick & Company, Incorporated by 0.4% in the first 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 last quarter. Sage Capital Advisors llc lifted its stake in shares of McCormick & Company, Incorporated by 2.8% in the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock valued at $413,000 after purchasing an additional 137 shares during the period. ST Germain D J Co. Inc. boosted its position in shares of McCormick & Company, Incorporated by 1.8% in the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after purchasing an additional 140 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in shares of McCormick & Company, Incorporated by 1.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock worth $912,000 after purchasing an additional 146 shares during the last quarter. Finally, Signal Advisors Wealth LLC grew its stake in shares of McCormick & Company, Incorporated by 3.5% during the first quarter. Signal Advisors Wealth LLC now owns 4,802 shares of the company's stock worth $395,000 after purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

Analyst Ratings Changes

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

McCormick & Company, Incorporated Trading Down 1.5%

NYSE MKC opened at $68.58 on Thursday. McCormick & Company, Incorporated has a one year low of $67.71 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The firm has a market cap of $18.40 billion, a P/E ratio of 23.81, a P/E/G ratio of 3.42 and a beta of 0.65. The stock's 50-day moving average is $70.94 and its 200-day moving average is $74.74.

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 analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.McCormick & Company, Incorporated's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) 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.

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