Liontrust Investment Partners LLP Takes Position in McCormick & Company, Incorporated $MKC

Key Points

• Liontrust Investment Partners LLP invested approximately $4.61 million in McCormick & Company, acquiring 56,008 shares in the first quarter, reflecting a significant institutional interest in the company.
• McCormick's quarterly earnings reported $0.69 per share, beating analysts' estimates of $0.65, with revenue reaching $1.66 billion despite being slightly below expectations.
• The company recently paid a quarterly dividend of $0.45 per share, representing a 2.6% yield, indicating its commitment to returning value to shareholders.

Liontrust Investment Partners LLP bought a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 56,008 shares of the company's stock, valued at approximately $4,610,000.

Several other institutional investors have also recently made changes to their positions in the stock. Horizon Investments LLC boosted its holdings in shares of McCormick & Company, Incorporated by 5.0% in the first quarter. Horizon Investments LLC now owns 3,621 shares of the company's stock worth $296,000 after acquiring an additional 173 shares during the period. Azimuth Capital Investment Management LLC raised its stake in shares of McCormick & Company, Incorporated by 16.3% during the 1st quarter. Azimuth Capital Investment Management LLC now owns 5,710 shares of the company's stock valued at $470,000 after purchasing an additional 800 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in McCormick & Company, Incorporated by 11.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,748 shares of the company's stock worth $802,000 after purchasing an additional 1,029 shares in the last quarter. Financial Network Wealth Advisors LLC boosted its stake in McCormick & Company, Incorporated by 71.6% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,189 shares of the company's stock worth $98,000 after purchasing an additional 496 shares during the period. Finally, National Pension Service grew its holdings in McCormick & Company, Incorporated by 8.4% during the 1st quarter. National Pension Service now owns 422,533 shares of the company's stock valued at $34,779,000 after buying an additional 32,726 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded up $0.7620 during mid-day trading on Wednesday, reaching $69.8120. 2,446,246 shares of the company were exchanged, compared to its average volume of 2,163,438. McCormick & Company, Incorporated has a 52 week low of $68.23 and a 52 week high of $86.24. The company's 50 day moving average price is $72.31 and its 200 day moving average price is $75.50. The stock has a market capitalization of $18.74 billion, a PE ratio of 24.24, a PEG ratio of 3.32 and a beta of 0.66. 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 (NYSE:MKC - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the business posted $0.69 earnings per share. The company's revenue for the quarter was up 1.0% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. McCormick & Company, Incorporated's payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MKC shares. Stifel Nicolaus decreased their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. UBS Group started coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective for the company. 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. upgraded 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 research note on Wednesday. Finally, Citigroup reduced 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 research report on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $84.75.

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.