Swedbank AB Has $49.84 Million Position in McCormick & Company, Incorporated $MKC

Key Points

• Swedbank AB significantly increased its stake in McCormick & Company by 187.7% during the first quarter, bringing its total shares to 605,543, which are valued at approximately $49.8 million.
• Several large investors, including Vanguard and T. Rowe Price, also raised their holdings in McCormick, indicating strong institutional interest with 79.74% of the company's stock owned by institutional investors and hedge funds.
• McCormick recently announced a quarterly dividend of $0.45, translating to an annualized yield of 2.6%, with a dividend payout ratio of 62.5%.

Swedbank AB grew its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 187.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 605,543 shares of the company's stock after buying an additional 395,071 shares during the period. Swedbank AB owned approximately 0.23% of McCormick & Company, Incorporated worth $49,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd lifted its holdings in shares of McCormick & Company, Incorporated by 13.3% during the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company's stock valued at $4,091,000 after purchasing an additional 5,829 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $260,000. Stratos Wealth Partners LTD. lifted its holdings in shares of McCormick & Company, Incorporated by 5.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company's stock valued at $7,267,000 after purchasing an additional 4,771 shares in the last quarter. Retirement Guys Formula LLC bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at about $988,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of McCormick & Company, Incorporated by 10.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company's stock valued at $3,464,000 after purchasing an additional 3,877 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Down 4.2%

Shares of NYSE:MKC traded down $2.88 during trading on Monday, hitting $66.07. 3,202,655 shares of the company were exchanged, compared to its average volume of 2,332,523. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 3.38 and a beta of 0.65. McCormick & Company, Incorporated has a fifty-two week low of $65.95 and a fifty-two week high of $86.24. The firm has a fifty day moving average price of $70.56 and a two-hundred day moving average price of $74.37. The company has a current ratio of 0.68, a quick ratio of 0.27 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. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. McCormick & Company, Incorporated's payout ratio is presently 62.50%.

Analyst Ratings Changes

Several research firms have recently weighed in on MKC. Stifel Nicolaus cut their price objective 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. Citigroup cut their price objective 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. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $69.00 to $83.00 in a research report on Wednesday, August 20th. UBS Group dropped their target price 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. Finally, Wall Street Zen lowered McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.