Russell Investments Group Ltd. Grows Stake in McCormick & Company, Incorporated $MKC

Russell Investments Group Ltd. increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 11.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,084 shares of the company's stock after purchasing an additional 16,492 shares during the period. Russell Investments Group Ltd. owned 0.06% of McCormick & Company, Incorporated worth $13,246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MKC. XTX Topco Ltd acquired a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $253,000. CANADA LIFE ASSURANCE Co lifted its stake in McCormick & Company, Incorporated by 15.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 251,143 shares of the company's stock valued at $19,142,000 after acquiring an additional 32,865 shares during the period. GeoWealth Management LLC lifted its stake in McCormick & Company, Incorporated by 41.5% during the 4th quarter. GeoWealth Management LLC now owns 3,139 shares of the company's stock valued at $239,000 after acquiring an additional 921 shares during the period. Forum Financial Management LP acquired a new stake in McCormick & Company, Incorporated during the 4th quarter valued at approximately $315,000. Finally, Freedom Investment Management Inc. lifted its stake in McCormick & Company, Incorporated by 14.3% during the 4th quarter. Freedom Investment Management Inc. now owns 3,116 shares of the company's stock valued at $238,000 after acquiring an additional 389 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on MKC. 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 note on Tuesday, June 17th. UBS Group began coverage on shares of McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective for the company. 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 note on Tuesday, July 29th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $69.00 to $83.00 in a research note on Wednesday. One 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $84.75.

McCormick & Company, Incorporated Price Performance

NYSE MKC traded up $1.1190 during trading hours on Thursday, reaching $70.9990. The company's stock had a trading volume of 2,217,527 shares, compared to its average volume of 2,299,648. The firm has a market capitalization of $19.05 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 3.32 and a beta of 0.66. The company's 50-day moving average is $72.31 and its two-hundred day moving average is $75.50. 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 has a 1-year low of $68.23 and a 1-year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued 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. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company 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 predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

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

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.