National Pension Service Purchases 32,726 Shares of McCormick & Company, Incorporated $MKC

Key Points

• The National Pension Service increased its holdings in McCormick & Company, Incorporated by 8.4%, owning 422,533 shares worth approximately $34.8 million after purchasing an additional 32,726 shares in the first quarter.
• Multiple hedge funds, including Vanguard Group and Northern Trust Corp, have also boosted their stakes in McCormick, with institutional investors collectively holding 79.74% of the company's stock.
• McCormick recently reported quarterly earnings with a 0.69 EPS and declared a quarterly dividend of $0.45, translating to an annualized yield of 2.6%.

National Pension Service increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 422,533 shares of the company's stock after purchasing an additional 32,726 shares during the quarter. National Pension Service owned approximately 0.16% of McCormick & Company, Incorporated worth $34,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MKC. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated in the 1st quarter worth approximately $28,000. Wayfinding Financial LLC acquired a new stake in McCormick & Company, Incorporated in the 1st quarter worth approximately $30,000. Salem Investment Counselors Inc. lifted its holdings in shares of 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 buying an additional 336 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth approximately $33,000. Finally, Stonebridge Financial Group LLC lifted its holdings in shares of 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 buying an additional 202 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC traded up $0.9910 during trading on Thursday, hitting $70.8710. 990,455 shares of the company were exchanged, compared to its average volume of 2,292,678. The company has a market cap of $19.02 billion, a PE ratio of 24.64, a P/E/G ratio of 3.32 and a beta of 0.66. The stock has a 50 day moving average of $72.31 and a 200 day moving average of $75.50. McCormick & Company, Incorporated has a 52-week low of $68.23 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its 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 return on equity of 14.43% and a net margin of 11.50%.The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the business posted $0.69 earnings per share. The business's quarterly revenue 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. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Stifel Nicolaus cut their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $69.00 to $83.00 in a report on Wednesday. UBS Group assumed coverage on McCormick & Company, Incorporated in a report on Monday, June 16th. They set a "neutral" rating and a $83.00 price target for the company. Finally, Citigroup cut their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. One investment 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.75.

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.