NFJ Investment Group LLC Decreases Holdings in McCormick & Company, Incorporated $MKC

Key Points

• NFJ Investment Group LLC has reduced its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 14.6%, now owning 33,564 shares valued at approximately $2.76 million.
• Several equities research analysts have adjusted their price targets for McCormick, with Citigroup lowering it to $77.00 while JPMorgan Chase raised it to $83.00.
• McCormick recently announced a quarterly dividend of $0.45, reflecting an annualized yield of 2.5%, with a payout ratio of 62.5%.

NFJ Investment Group LLC lessened its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 14.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,564 shares of the company's stock after selling 5,750 shares during the period. NFJ Investment Group LLC's holdings in McCormick & Company, Incorporated were worth $2,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MKC. Cary Street Partners Financial LLC bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at $564,000. Cetera Investment Advisers grew its position in shares of McCormick & Company, Incorporated by 6.3% during the 4th quarter. Cetera Investment Advisers now owns 36,248 shares of the company's stock valued at $2,764,000 after acquiring an additional 2,142 shares during the period. Colonial Trust Co SC grew its position in shares of McCormick & Company, Incorporated by 69.0% during the 4th quarter. Colonial Trust Co SC now owns 566 shares of the company's stock valued at $43,000 after acquiring an additional 231 shares during the period. EP Wealth Advisors LLC grew its position in shares of McCormick & Company, Incorporated by 6.3% during the 4th quarter. EP Wealth Advisors LLC now owns 5,988 shares of the company's stock valued at $457,000 after acquiring an additional 357 shares during the period. Finally, Deutsche Bank AG grew its position in shares of McCormick & Company, Incorporated by 21.1% during the 4th quarter. Deutsche Bank AG now owns 1,194,217 shares of the company's stock valued at $91,047,000 after acquiring an additional 208,144 shares during the period. 79.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MKC has been the subject of a number of recent research reports. UBS Group cut 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. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Citigroup cut 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. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $69.00 to $83.00 in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus dropped their target price on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Price Performance

MKC stock traded up $1.41 during trading on Thursday, reaching $69.99. The company's stock had a trading volume of 690,012 shares, compared to its average volume of 2,305,204. McCormick & Company, Incorporated has a 1 year low of $67.71 and a 1 year high of $86.24. 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 company has a market capitalization of $18.78 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 3.42 and a beta of 0.65. The company's fifty day moving average is $70.94 and its 200-day moving average is $74.74.

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, beating 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 business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business's 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. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio is 62.50%.

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.