McCormick & Company, Incorporated $MKC Shares Sold by USS Investment Management Ltd

Key Points

• USS Investment Management Ltd decreased its holdings in McCormick & Company by 40.4%, now owning 57,729 shares worth approximately $4.75 million.
• McCormick's latest earnings report showed a net margin of 11.50%, with earnings per share of $0.69, surpassing expectations of $0.65.
• The company recently announced a quarterly dividend of $0.45, resulting in a 2.5% dividend yield, with a payout ratio of 62.50%.

USS Investment Management Ltd lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 40.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,729 shares of the company's stock after selling 39,200 shares during the period. USS Investment Management Ltd's holdings in McCormick & Company, Incorporated were worth $4,750,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position 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 valued at $2,623,552,000 after buying an additional 136,729 shares during the period. T. Rowe Price Investment Management Inc. boosted its position 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 valued at $340,406,000 after buying an additional 920,618 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 valued at $232,264,000 after buying an additional 43,353 shares during the period. Alyeska Investment Group L.P. boosted its position in McCormick & Company, Incorporated by 1,360.5% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company's stock valued at $129,647,000 after buying an additional 1,467,254 shares during the period. Finally, Select Equity Group L.P. boosted its position in McCormick & Company, Incorporated by 13.5% in the 1st quarter. Select Equity Group L.P. now owns 1,560,869 shares of the company's stock valued at $128,475,000 after buying an additional 185,437 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Down 1.2%

NYSE:MKC traded down $0.82 during midday trading on Friday, hitting $69.00. 1,795,860 shares of the company were exchanged, compared to its average volume of 2,328,224. The company has a fifty day simple moving average of $70.70 and a 200 day simple moving average of $74.57. McCormick & Company, Incorporated has a fifty-two week low of $67.71 and a fifty-two week high of $86.24. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $18.52 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 3.43 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the business earned $0.69 EPS. McCormick & Company, Incorporated's revenue for the quarter 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. As a group, equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. McCormick & Company, Incorporated's payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MKC shares. Citigroup decreased their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. Wall Street Zen cut shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday. Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research report on Tuesday, July 29th. JPMorgan Chase & Co. raised shares of 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 research report on Wednesday, August 20th. Finally, UBS Group decreased their price objective on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of "Moderate Buy" and a consensus price target of $84.25.

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.