Aptus Capital Advisors LLC Buys 16,882 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Aptus Capital Advisors LLC increased its stake in McCormick & Company, Incorporated by 10.1%, owning approximately 184,462 shares valued at $15.18 million as of the end of the first quarter.
• Analysts have mixed ratings for McCormick shares, with one being rated sell, six hold, three buy, and one strong buy, while the average price target is $83.00.
• McCormick recently declared a quarterly dividend of $0.45 per share, amounting to an annualized dividend yield of 2.6%.

Aptus Capital Advisors LLC boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 10.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 184,462 shares of the company's stock after buying an additional 16,882 shares during the period. Aptus Capital Advisors LLC owned approximately 0.07% of McCormick & Company, Incorporated worth $15,183,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on MKC. 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. UBS Group began coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They issued a "neutral" rating and a $83.00 target price on the stock. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $69.00 to $83.00 in a research report on Wednesday. Finally, Citigroup lowered their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, June 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.75.

McCormick & Company, Incorporated Trading Up 1.1%

Shares of MKC traded up $0.7620 during mid-day trading on Wednesday, reaching $69.8120. 2,446,246 shares of the company were exchanged, compared to its average volume of 2,163,438. The stock has a market capitalization of $18.74 billion, a PE ratio of 24.24, a PEG ratio of 3.32 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. McCormick & Company, Incorporated has a 52 week low of $68.23 and a 52 week high of $86.24. The business has a 50 day simple moving average of $72.31 and a two-hundred day simple moving average of $75.50.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate 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 revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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