Swedbank AB Buys 15,755 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Swedbank AB increased its stake in McCormick & Company by 2.6% during the second quarter, acquiring an additional 15,755 shares, bringing its total ownership to 621,298 shares valued at approximately $47.1 million.
• McCormick reported earnings of $0.69 per share for the last quarter, exceeding expectations, alongside revenue growth of 1.0% year-over-year despite a slight miss on expected total revenue.
• The company declared a quarterly dividend of $0.45 per share, representing an annualized dividend yield of 2.7%, with a payout ratio of 62.5% as of the last report.

Swedbank AB increased its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 621,298 shares of the company's stock after purchasing an additional 15,755 shares during the quarter. Swedbank AB owned approximately 0.23% of McCormick & Company, Incorporated worth $47,107,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Alecta Tjanstepension Omsesidigt raised its holdings in McCormick & Company, Incorporated by 94.7% in the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company's stock valued at $134,795,000 after acquiring an additional 865,500 shares during the period. Focus Financial Network Inc. raised its holdings in McCormick & Company, Incorporated by 3.2% in the 2nd quarter. Focus Financial Network Inc. now owns 6,426 shares of the company's stock valued at $487,000 after acquiring an additional 200 shares during the period. DLK Investment Management LLC raised its holdings in McCormick & Company, Incorporated by 1.1% in the 2nd quarter. DLK Investment Management LLC now owns 66,957 shares of the company's stock valued at $5,077,000 after acquiring an additional 708 shares during the period. Westbourne Investments Inc. bought a new position in McCormick & Company, Incorporated in the 2nd quarter valued at about $250,000. Finally, Czech National Bank raised its holdings in McCormick & Company, Incorporated by 6.5% in the 2nd quarter. Czech National Bank now owns 61,764 shares of the company's stock valued at $4,683,000 after acquiring an additional 3,765 shares during the period. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Trading Up 0.2%

NYSE MKC traded up $0.13 during mid-day trading on Tuesday, reaching $64.76. 136,571 shares of the stock were exchanged, compared to its average volume of 2,305,229. McCormick & Company, Incorporated has a one year low of $64.53 and a one year high of $86.24. The stock has a 50 day simple moving average of $69.94 and a 200-day simple moving average of $73.78. The stock has a market cap of $17.38 billion, a P/E ratio of 22.49, a P/E/G ratio of 3.22 and a beta of 0.65. 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 (NYSE:MKC - Get Free Report) last announced its earnings results 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 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 last year, the firm earned $0.69 earnings per share. McCormick & Company, Incorporated'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, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MKC shares. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and increased their price target for the company from $69.00 to $83.00 in a report on Wednesday, August 20th. Citigroup lowered their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a report on Tuesday, June 17th. UBS Group lowered their target price on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Friday, August 22nd. Stifel Nicolaus lowered their target price on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a report on Tuesday, July 29th. Finally, Wall Street Zen cut shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $84.25.

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.