MBB Public Markets I LLC Buys New Position in McCormick & Company, Incorporated $MKC

Key Points

• MBB Public Markets I LLC has acquired a new stake in McCormick & Company, Incorporated worth approximately $325,000, purchasing 3,946 shares in the 1st quarter of the year.
• The company reported earnings of $0.69 per share, exceeding analysts' estimates by $0.04, while quarterly revenues reached $1.66 billion, slightly below expectations.
• McCormick announced a quarterly dividend of $0.45 per share, resulting in an annualized dividend of $1.80 and a yield of 2.6%.

MBB Public Markets I LLC bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,946 shares of the company's stock, valued at approximately $325,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Analysts LLC bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter worth $26,000. Zions Bancorporation National Association UT purchased a new position in shares of McCormick & Company, Incorporated in the first quarter worth about $28,000. Wayfinding Financial LLC purchased a new position in McCormick & Company, Incorporated in the 1st quarter valued at approximately $30,000. Salem Investment Counselors Inc. lifted its holdings in 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, Ameriflex Group Inc. bought a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Trading Down 1.2%

Shares of McCormick & Company, Incorporated stock traded down $0.82 during trading on Friday, reaching $69.00. The company's stock had a trading volume of 1,795,860 shares, compared to its average volume of 2,310,056. McCormick & Company, Incorporated has a 52-week low of $67.71 and a 52-week high of $86.24. The company has a market cap of $18.52 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 3.37 and a beta of 0.65. The firm's 50-day moving average is $70.83 and its two-hundred day moving average is $74.67. 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 posted its quarterly 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. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The firm'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. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared 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 yield of 2.6%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MKC shares. UBS Group lowered their price objective on 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 lowered their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, June 17th. JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $69.00 to $83.00 in a research report on Wednesday, August 20th. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Stifel Nicolaus lowered their target price on shares of 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.