Landscape Capital Management L.L.C. Cuts Stock Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Landscape Capital Management L.L.C. reduced its holdings in McCormick & Company, Incorporated by 11.1% in the first quarter, bringing its total to 56,552 shares valued at approximately $4.655 million.
• Analysts have mixed views on McCormick's stock, with ratings ranging from a Strong Buy to a Hold, and a consensus price target of $84.25.
• McCormick recently posted quarterly earnings per share of $0.69, surpassing the consensus estimate, with a revenue of $1.66 billion for the quarter.

Landscape Capital Management L.L.C. cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,552 shares of the company's stock after selling 7,049 shares during the period. Landscape Capital Management L.L.C.'s holdings in McCormick & Company, Incorporated were worth $4,655,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. IFM Investors Pty Ltd boosted its position in 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 buying an additional 5,829 shares during the period. Sowell Financial Services LLC acquired a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $260,000. Stratos Wealth Partners LTD. boosted its position in McCormick & Company, Incorporated by 5.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company's stock worth $7,267,000 after buying an additional 4,771 shares during the period. Retirement Guys Formula LLC acquired a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $988,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in McCormick & Company, Incorporated by 10.0% during the 1st 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 during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 2.0%

MKC stock traded down $1.43 during midday trading on Tuesday, reaching $68.95. 646,189 shares of the company's stock traded hands, compared to its average volume of 2,310,081. The company has a market cap of $18.50 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 3.45 and a beta of 0.65. The firm's fifty day moving average price is $71.81 and its 200-day moving average price is $75.11. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 52 week low of $68.23 and a 52 week high of $86.24.

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, beating analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. McCormick & Company, Incorporated's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal 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 issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MKC shares. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. UBS Group lowered their price target 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. Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Citigroup lowered their price target 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 research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of "Moderate Buy" and a consensus price target 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.