Kingstone Capital Partners Texas LLC Takes Position in McCormick & Company, Incorporated $MKC

Key Points

• Kingstone Capital Partners Texas LLC has acquired a stake in McCormick & Company, investing approximately $1.52 million for 20,496 shares during the second quarter.
• McCormick's stock has received mixed ratings from analysts, with price targets adjusted downwards by several firms, while JPMorgan upgraded it to an "overweight" rating with a price target of $83.00.
• The company recently announced a quarterly dividend of $0.45 per share, representing an annualized rate of $1.80 and a yield of 2.7%.

Kingstone Capital Partners Texas LLC purchased a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,496 shares of the company's stock, valued at approximately $1,517,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd boosted its holdings in shares of McCormick & Company, Incorporated by 13.3% in the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company's stock valued at $4,091,000 after acquiring an additional 5,829 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth approximately $260,000. Stratos Wealth Partners LTD. lifted its holdings in McCormick & Company, Incorporated by 5.7% during the first quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company's stock valued at $7,267,000 after purchasing an additional 4,771 shares in the last quarter. Retirement Guys Formula LLC purchased a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $988,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of McCormick & Company, Incorporated by 10.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company's stock worth $3,464,000 after buying an additional 3,877 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

MKC has been the subject of a number of recent analyst reports. Stifel Nicolaus cut 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. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and increased their price target for the company from $69.00 to $83.00 in a report on Wednesday, August 20th. Wall Street Zen lowered McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Citigroup cut their target price on 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. Finally, UBS Group dropped 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 research note on Friday, August 22nd. 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $84.25.

McCormick & Company, Incorporated Stock Down 1.1%

MKC traded down $0.74 on Monday, reaching $64.74. 1,957,733 shares of the company traded hands, compared to its average volume of 2,256,991. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. McCormick & Company, Incorporated has a 52-week low of $64.53 and a 52-week high of $86.24. The stock's 50 day moving average price is $70.08 and its 200-day moving average price is $73.90. The company has a market cap of $17.38 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 3.22 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates 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 revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were issued 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 yield of 2.8%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.50%.

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.