McCormick & Company, Incorporated $MKC Shares Acquired by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its position in McCormick & Company by 28.6%, acquiring over 920,000 shares and holding approximately 1.54% of the company valued at $340.4 million as of its latest SEC filing.
• McCormick recently reported a quarterly EPS of $0.69, surpassing analyst expectations of $0.65, with a revenue of $1.66 billion, slightly below the forecast of $1.67 billion.
• After declaring a quarterly dividend of $0.45 per share, McCormick's annualized dividend yield stands at 2.6%, with a payout ratio of 62.50%.

T. Rowe Price Investment Management Inc. grew its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,135,648 shares of the company's stock after purchasing an additional 920,618 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.54% of McCormick & Company, Incorporated worth $340,406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EagleClaw Capital Managment LLC increased its stake in McCormick & Company, Incorporated by 0.4% during the 1st quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company's stock worth $3,018,000 after buying an additional 135 shares during the period. Sage Capital Advisors llc increased its stake in McCormick & Company, Incorporated by 2.8% during the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock worth $413,000 after buying an additional 137 shares during the period. ST Germain D J Co. Inc. increased its stake in McCormick & Company, Incorporated by 1.8% during the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after buying an additional 140 shares during the period. Miracle Mile Advisors LLC increased its stake in McCormick & Company, Incorporated by 1.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock worth $912,000 after buying an additional 146 shares during the period. Finally, Signal Advisors Wealth LLC increased its stake in McCormick & Company, Incorporated by 3.5% during the 1st quarter. Signal Advisors Wealth LLC now owns 4,802 shares of the company's stock worth $395,000 after buying an additional 163 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MKC shares. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $69.00 to $83.00 in a research note on Wednesday, August 20th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Citigroup lowered their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. Finally, UBS Group lowered their price target on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.25.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock traded up $0.24 during trading hours on Tuesday, reaching $70.80. 620,097 shares of the stock were exchanged, compared to its average volume of 2,300,870. The stock has a market cap of $19.00 billion, a P/E ratio of 24.58, a P/E/G ratio of 3.47 and a beta of 0.66. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $68.23 and a 52-week high of $86.24. The firm's 50 day moving average is $72.12 and its 200 day moving average is $75.35.

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

McCormick & Company, Incorporated Announces Dividend

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