McCormick & Company, Incorporated $MKC Stock Position Reduced by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management L.P. has reduced its holdings in McCormick & Company by 38.8%, now owning 10,438 shares valued at approximately $859,000.
• McCormick recently reported $0.69 earnings per share for the last quarter, exceeding the consensus estimate of $0.65, with revenue slightly down from expectations.
• The company announced a quarterly dividend of $0.45 per share, representing an annual yield of 2.6% and a payout ratio of 62.50%.

Tocqueville Asset Management L.P. lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 38.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,438 shares of the company's stock after selling 6,630 shares during the period. Tocqueville Asset Management L.P.'s holdings in McCormick & Company, Incorporated were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $28,000. Wayfinding Financial LLC bought a new stake in McCormick & Company, Incorporated during the first quarter worth approximately $30,000. Salem Investment Counselors Inc. raised its holdings in McCormick & Company, Incorporated by 610.9% during the first 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. Stonebridge Financial Group LLC raised its holdings in McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after purchasing an additional 202 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new stake in McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded up $1.1550 during mid-day trading on Thursday, hitting $71.0350. The company's stock had a trading volume of 3,269,826 shares, compared to its average volume of 2,307,086. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $19.06 billion, a P/E ratio of 24.67, a P/E/G ratio of 3.32 and a beta of 0.66. McCormick & Company, Incorporated has a twelve month low of $68.23 and a twelve month high of $86.24. The stock's fifty day moving average price is $72.31 and its two-hundred day moving average price is $75.50.

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 (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 firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business posted $0.69 earnings per share. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen raised McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Stifel Nicolaus dropped 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. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $69.00 to $83.00 in a research report on Wednesday. Citigroup decreased 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. Finally, UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price target on the stock. One 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 company's stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of "Moderate Buy" and an average price target of $84.75.

About McCormick & Company, Incorporated

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.