Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Position in McCormick & Company, Incorporated $MKC

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in McCormick & Company by 34.1%, now owning 31,544 shares valued at approximately $2.6 million.
• In the latest quarter, McCormick reported an EPS of $0.69, which exceeded analyst expectations of $0.65, while revenues reached $1.66 billion, slightly below estimates.
• The company announced a quarterly dividend of $0.45 per share, reflecting an annualized yield of 2.6%, and has a payout ratio of 62.50%.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 34.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,544 shares of the company's stock after selling 16,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in McCormick & Company, Incorporated were worth $2,596,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in shares of McCormick & Company, Incorporated during the first quarter valued at $28,000. Wayfinding Financial LLC bought a new position in McCormick & Company, Incorporated during the 1st quarter worth $30,000. Salem Investment Counselors Inc. lifted its holdings 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 buying an additional 336 shares during the period. Ameriflex Group Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $33,000. Finally, Stonebridge Financial Group LLC grew its position in shares of McCormick & Company, Incorporated by 101.0% in the 1st 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 last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC traded up $0.7620 during trading hours on Wednesday, hitting $69.8120. The company's stock had a trading volume of 2,446,246 shares, compared to its average volume of 2,163,438. The company has a market cap of $18.74 billion, a price-to-earnings 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 current ratio of 0.68 and a quick ratio of 0.27. The business has a 50 day simple moving average of $72.43 and a two-hundred day simple moving average of $75.54. McCormick & Company, Incorporated has a 52-week low of $68.23 and a 52-week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data 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 net margin of 11.50% and a return on equity of 14.43%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm earned $0.69 EPS. McCormick & Company, Incorporated'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. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal 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 given 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 2.6%. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MKC. UBS Group began coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They set a "neutral" rating and a $83.00 price target on the stock. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $69.00 to $83.00 in a research note on Wednesday. Stifel Nicolaus decreased their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Citigroup reduced their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of "Moderate Buy" and an average price target of $84.75.

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.