Focus Partners Advisor Solutions LLC Acquires 4,241 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in McCormick & Company by 29.2% during Q1, owning 18,789 shares valued at approximately $1.55 million.
• According to recent analyst reports, McCormick was upgraded by JPMorgan Chase to "overweight" with a price target increase from $69 to $83, while UBS lowered its target from $83 to $79.
• The company announced a quarterly dividend of $0.45 per share, which represents an annualized yield of 2.6% with a payout ratio of 62.50%.

Focus Partners Advisor Solutions LLC grew its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 29.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,789 shares of the company's stock after acquiring an additional 4,241 shares during the period. Focus Partners Advisor Solutions LLC's holdings in McCormick & Company, Incorporated were worth $1,547,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. EagleClaw Capital Managment LLC increased its holdings in shares of McCormick & Company, Incorporated by 0.4% during the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company's stock worth $3,018,000 after buying an additional 135 shares in the last quarter. Sage Capital Advisors llc increased its holdings in shares of McCormick & Company, Incorporated by 2.8% during the first quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock worth $413,000 after buying an additional 137 shares in the last quarter. ST Germain D J Co. Inc. increased its holdings in shares of McCormick & Company, Incorporated by 1.8% during the first quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after buying an additional 140 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 1.3% during the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock worth $912,000 after buying an additional 146 shares in the last quarter. Finally, Signal Advisors Wealth LLC increased its holdings in shares of McCormick & Company, Incorporated by 3.5% during the first quarter. Signal Advisors Wealth LLC now owns 4,802 shares of the company's stock worth $395,000 after buying an additional 163 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Up 1.1%

NYSE:MKC traded up $0.80 on Friday, hitting $70.93. The stock had a trading volume of 2,583,971 shares, compared to its average volume of 2,298,129. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The stock has a market cap of $19.03 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 3.48 and a beta of 0.65. McCormick & Company, Incorporated has a 1 year low of $68.23 and a 1 year high of $86.24. The firm's fifty day simple moving average is $71.36 and its two-hundred day simple moving average is $74.92.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm 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%. The company's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.5%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MKC shares. UBS Group decreased their price objective on 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 cut their price objective on shares of 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. Citigroup dropped their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and raised their price target for the company from $69.00 to $83.00 in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated 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.