B. Metzler seel. Sohn & Co. AG Raises Stake in McCormick & Company, Incorporated $MKC

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in McCormick & Company by 200.8%, now holding 38,206 shares worth approximately $3.145 million.
• McCormick reported earnings of $0.69 per share for its latest quarter, exceeding estimates, while revenue was $1.66 billion, slightly below expectations.
• The company announced a quarterly dividend of $0.45 per share, reflecting a yield of 2.6% and a payout ratio of 62.5%.

B. Metzler seel. Sohn & Co. AG increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 200.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,206 shares of the company's stock after purchasing an additional 25,506 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in McCormick & Company, Incorporated were worth $3,145,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $2,394,000. Northern Trust Corp lifted its holdings in McCormick & Company, Incorporated by 16.8% in the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock valued at $281,573,000 after acquiring an additional 531,060 shares during the period. Lido Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 3.6% in the fourth quarter. Lido Advisors LLC now owns 17,707 shares of the company's stock valued at $1,358,000 after acquiring an additional 622 shares during the period. Parvin Asset Management LLC acquired a new position in McCormick & Company, Incorporated in the fourth quarter valued at approximately $38,000. Finally, DoubleLine ETF Adviser LP lifted its holdings in McCormick & Company, Incorporated by 2.8% in the fourth quarter. DoubleLine ETF Adviser LP now owns 14,113 shares of the company's stock valued at $1,076,000 after acquiring an additional 380 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock traded down $0.06 on Wednesday, reaching $68.74. The company's stock had a trading volume of 328,329 shares, compared to its average volume of 2,309,450. The company has a market capitalization of $18.45 billion, a P/E ratio of 23.87, a PEG ratio of 3.45 and a beta of 0.65. McCormick & Company, Incorporated has a 52-week low of $68.23 and a 52-week high of $86.24. The stock has a 50-day moving average price of $71.70 and a 200-day moving average price of $75.07. 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 issued its quarterly earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the previous year, the business earned $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. Analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $69.00 to $83.00 in a report on Wednesday, August 20th. 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 report on Tuesday, July 29th. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Citigroup decreased their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. Finally, UBS Group cut their price objective on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.