4,810 Shares in McCormick & Company, Incorporated $MKC Purchased by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC invested approximately $396,000 in McCormick & Company by acquiring 4,810 shares during the first quarter of the year.
• McCormick reported a quarterly earnings per share of $0.69, exceeding estimates, and its revenue rose by 1% year-over-year to $1.66 billion.
• The company recently announced a quarterly dividend of $0.45 per share, resulting in a 2.6% annualized dividend yield.

SCS Capital Management LLC purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,810 shares of the company's stock, valued at approximately $396,000.

Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers lifted its stake in 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 in the last quarter. Lazard Asset Management LLC purchased a new position in McCormick & Company, Incorporated during the 4th quarter valued at about $726,000. Nomura Holdings Inc. lifted its position in McCormick & Company, Incorporated by 59.6% during the fourth quarter. Nomura Holdings Inc. now owns 20,858 shares of the company's stock valued at $1,590,000 after purchasing an additional 7,788 shares during the last quarter. Mufg Securities Americas Inc. purchased a new stake in McCormick & Company, Incorporated in the fourth quarter worth approximately $284,000. Finally, Quantinno Capital Management LP lifted its position in McCormick & Company, Incorporated by 25.3% in the fourth quarter. Quantinno Capital Management LP now owns 63,988 shares of the company's stock valued at $4,878,000 after purchasing an additional 12,937 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on MKC. Citigroup lowered their price objective on 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. UBS Group dropped their target price on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Friday, August 22nd. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. Wall Street Zen cut McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Stifel Nicolaus lowered their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday, July 29th. One equities research 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 company's stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Stock Down 4.2%

Shares of NYSE MKC traded down $2.88 during mid-day trading on Monday, reaching $66.07. 3,202,655 shares of the company were exchanged, compared to its average volume of 2,315,156. 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 stock has a market cap of $17.73 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 3.38 and a beta of 0.65. McCormick & Company, Incorporated has a 1 year low of $65.95 and a 1 year high of $86.24. The firm has a 50-day moving average of $70.70 and a 200 day moving average of $74.48.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the prior year, the business posted $0.69 EPS. The firm'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. On average, research 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 announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) 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.