Notis McConarty Edward Has $3.09 Million Stock Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Notis McConarty Edward increased its stake in McCormick & Company by 14.8% in Q2, owning 40,800 shares valued at approximately $3.09 million.
• McCormick's recent quarterly earnings exceeded expectations, reporting $0.85 EPS against estimates of $0.82, with revenue of $1.72 billion.
• The company announced a quarterly dividend of $0.45 per share for investors of record, reflecting a yield of 2.7%.

Notis McConarty Edward grew its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 14.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,800 shares of the company's stock after buying an additional 5,270 shares during the quarter. McCormick & Company, Incorporated accounts for approximately 1.5% of Notis McConarty Edward's holdings, making the stock its 25th biggest holding. Notis McConarty Edward's holdings in McCormick & Company, Incorporated were worth $3,093,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MKC. Pallas Capital Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 1st quarter worth about $434,000. Yousif Capital Management LLC increased its position in shares of McCormick & Company, Incorporated by 3.2% during the 1st quarter. Yousif Capital Management LLC now owns 120,791 shares of the company's stock worth $9,942,000 after purchasing an additional 3,783 shares in the last quarter. SG Americas Securities LLC increased its position in shares of McCormick & Company, Incorporated by 204.2% during the 1st quarter. SG Americas Securities LLC now owns 27,592 shares of the company's stock worth $2,271,000 after purchasing an additional 18,521 shares in the last quarter. CX Institutional acquired a new stake in shares of McCormick & Company, Incorporated during the 1st quarter worth about $275,000. Finally, USA Financial Formulas increased its position in shares of McCormick & Company, Incorporated by 42.6% during the 1st quarter. USA Financial Formulas now owns 2,718 shares of the company's stock worth $224,000 after purchasing an additional 812 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MKC. Jefferies Financial Group dropped their target price on shares of McCormick & Company, Incorporated from $84.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday. Sanford C. Bernstein decreased their price objective on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an "outperform" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, UBS Group cut their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $78.22.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $65.79 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 12-month low of $63.66 and a 12-month high of $86.24. The company has a market capitalization of $17.66 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 3.27 and a beta of 0.63. The firm's 50 day moving average is $68.70 and its 200-day moving average is $72.64.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $0.83 earnings per share. The firm's revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated's payout ratio is presently 62.28%.

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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