McCormick & Company, Incorporated $MKC Shares Bought by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its stake in McCormick & Company by 13.4% during the 1st quarter, now owning approximately 204,833 shares valued at $16.86 million.
• JPMorgan Chase & Co. upgraded McCormick's stock from a "neutral" to an "overweight" rating, raising the price target from $69.00 to $83.00.
• McCormick recently announced a quarterly dividend of $0.45 per share, representing a 2.5% dividend yield and a payout ratio of 62.5%.

1832 Asset Management L.P. raised its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 204,833 shares of the company's stock after buying an additional 24,131 shares during the period. 1832 Asset Management L.P. owned about 0.08% of McCormick & Company, Incorporated worth $16,860,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in McCormick & Company, Incorporated by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company's stock worth $2,623,552,000 after buying an additional 136,729 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in McCormick & Company, Incorporated by 28.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company's stock worth $340,406,000 after buying an additional 920,618 shares during the last quarter. Northern Trust Corp boosted its holdings in McCormick & Company, Incorporated by 16.8% in the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after buying an additional 531,060 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in McCormick & Company, Incorporated by 1.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company's stock worth $232,264,000 after buying an additional 43,353 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in McCormick & Company, Incorporated by 47.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company's stock worth $216,771,000 after buying an additional 915,807 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MKC. JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $69.00 to $83.00 in a report on Wednesday. Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Citigroup lowered their target price 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. UBS Group lowered their target price on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Friday. Finally, Stifel Nicolaus lowered their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday, July 29th. One equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.25.

McCormick & Company, Incorporated Stock Up 1.6%

MKC stock opened at $72.2360 on Friday. The firm has a market cap of $19.39 billion, a PE ratio of 25.08, a PEG ratio of 3.47 and a beta of 0.66. 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 firm's 50 day moving average price is $72.18 and its 200-day moving average price is $75.41. McCormick & Company, Incorporated has a one year low of $68.23 and a one year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings results 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 for 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 business's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders 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 2.5%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's payout ratio is presently 62.50%.

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.

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