Mn Services Vermogensbeheer B.V. Acquires 6,700 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in McCormick & Company by 7.4%, acquiring an additional 6,700 shares in the second quarter, bringing its total holdings to 97,690 shares worth approximately $7.4 million.
• Several institutional investors have significantly increased their shares in McCormick, with Alyeska Investment Group boosting its stake by a remarkable 1,360.5% in the first quarter.
• Analysts have varied opinions on McCormick's stock, with a consensus rating of "Moderate Buy" and an average price target of $84.25, although some firms have lowered their price targets.

Mn Services Vermogensbeheer B.V. increased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,690 shares of the company's stock after buying an additional 6,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in McCormick & Company, Incorporated were worth $7,407,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. increased its stake in McCormick & Company, Incorporated by 1,360.5% in the first quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company's stock worth $129,647,000 after purchasing an additional 1,467,254 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings 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 worth $340,406,000 after buying an additional 920,618 shares during the period. Alecta Tjanstepension Omsesidigt lifted its stake in McCormick & Company, Incorporated by 94.7% during the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company's stock valued at $134,795,000 after acquiring an additional 865,500 shares during the period. Nuveen LLC purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $55,643,000. Finally, Westfield Capital Management Co. LP purchased a new position in shares of McCormick & Company, Incorporated during the first quarter worth $47,056,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MKC shares. Stifel Nicolaus reduced their price objective on 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. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $69.00 to $83.00 in a report on Wednesday, August 20th. Citigroup dropped their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. UBS Group decreased their target price on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a research note on Friday, August 22nd. Finally, Wall Street Zen downgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Moderate Buy" and an average price target of $84.25.

McCormick & Company, Incorporated Trading Down 1.1%

MKC opened at $65.54 on Friday. The firm has a market cap of $17.59 billion, a P/E ratio of 22.76, a P/E/G ratio of 3.25 and a beta of 0.65. 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 business has a fifty day simple moving average of $70.08 and a 200-day simple moving average of $74.02. McCormick & Company, Incorporated has a 52 week low of $65.47 and a 52 week high of $86.24.

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, beating analysts' consensus estimates of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.McCormick & Company, Incorporated's quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. 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 year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is currently 62.50%.

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.

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