State of New Jersey Common Pension Fund D Has $7.05 Million Stock Position in McCormick & Company, Incorporated $MKC

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in McCormick & Company by 7.7%, holding 85,594 shares valued at $7,045,000.
• Analyst ratings for McCormick & Company include a consensus “Hold” with a target price of $83.00, with ratings ranging from sell to strong buy.
• The company reported earnings of $0.69 EPS and a revenue of $1.66 billion, which was slightly below analysts' expectations for the quarter.

State of New Jersey Common Pension Fund D lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 7.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 85,594 shares of the company's stock after selling 7,099 shares during the period. State of New Jersey Common Pension Fund D's holdings in McCormick & Company, Incorporated were worth $7,045,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. EagleClaw Capital Managment LLC lifted its stake in McCormick & Company, Incorporated by 0.4% during the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company's stock valued at $3,018,000 after buying an additional 135 shares in the last quarter. Sage Capital Advisors llc lifted its stake in McCormick & Company, Incorporated by 2.8% during the first quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock valued at $413,000 after buying an additional 137 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in McCormick & Company, Incorporated by 1.8% during the first quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock valued at $643,000 after buying an additional 140 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in McCormick & Company, Incorporated by 1.3% during the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock valued at $912,000 after buying an additional 146 shares in the last quarter. Finally, Signal Advisors Wealth LLC lifted its stake in McCormick & Company, Incorporated by 3.5% during the first quarter. Signal Advisors Wealth LLC now owns 4,802 shares of the company's stock valued at $395,000 after buying an additional 163 shares in the last quarter. Institutional investors own 79.74% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group assumed 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. Citigroup reduced 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. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $69.00 to $83.00 in a research note on Wednesday. Finally, Stifel Nicolaus reduced 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. One investment 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $84.75.

McCormick & Company, Incorporated Stock Up 1.7%

Shares of MKC traded up $1.1550 during trading hours on Thursday, reaching $71.0350. The company's stock had a trading volume of 3,269,826 shares, compared to its average volume of 2,307,086. The firm has a market cap of $19.06 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 3.32 and a beta of 0.66. McCormick & Company, Incorporated has a 1-year low of $68.23 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 50 day moving average of $72.31 and a two-hundred day moving average of $75.50.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a $0.45 dividend. 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.