McCormick & Company, Incorporated $MKC Holdings Cut by Broderick Brian C

Key Points

• Broderick Brian C has reduced its stake in McCormick & Company, Incorporated by 5.6%, now holding 65,202 shares valued at approximately $4.94 million.
• The company reported $0.85 earnings per share for its most recent quarter, surpassing analysts' expectations and showing a 2.7% revenue increase compared to last year.
• McCormick & Company has announced a quarterly dividend of $0.45 per share, representing a dividend yield of 2.7%.

Broderick Brian C lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,202 shares of the company's stock after selling 3,895 shares during the period. Broderick Brian C's holdings in McCormick & Company, Incorporated were worth $4,944,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Capital Analysts LLC acquired a new position in McCormick & Company, Incorporated in the 1st quarter worth about $26,000. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at approximately $28,000. Wayfinding Financial LLC acquired a new position in McCormick & Company, Incorporated in the first quarter worth approximately $30,000. Salem Investment Counselors Inc. increased its holdings in McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock worth $32,000 after buying an additional 336 shares during the last quarter. Finally, Stonebridge Financial Group LLC raised its position in McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MKC has been the subject of several recent research reports. Citigroup decreased their target price 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. Weiss Ratings reiterated a "hold (c)" rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. JPMorgan Chase & Co. lowered their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Stifel Nicolaus decreased their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Finally, UBS Group lowered their price target on McCormick & Company, Incorporated from $79.00 to $71.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus price target of $80.29.

McCormick & Company, Incorporated Stock Performance

MKC opened at $65.71 on Wednesday. McCormick & Company, Incorporated has a 12-month low of $63.66 and a 12-month high of $86.24. The firm has a market capitalization of $17.63 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 3.39 and a beta of 0.63. The stock's 50 day moving average price is $68.81 and its two-hundred day moving average price is $72.69. 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 data on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same period in the prior year, the business earned $0.83 earnings per share. McCormick & Company, Incorporated's revenue for the quarter was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. McCormick & Company, Incorporated's dividend payout ratio is currently 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.

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