T. Rowe Price Investment Management Inc. Grows Position in McCormick & Company, Incorporated $MKC

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. raised its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MKC. XTX Topco Ltd bought a new stake in shares of McCormick & Company, Incorporated during the fourth quarter valued at about $253,000. GeoWealth Management LLC increased its position in shares of McCormick & Company, Incorporated by 41.5% during the fourth quarter. GeoWealth Management LLC now owns 3,139 shares of the company's stock valued at $239,000 after buying an additional 921 shares during the period. Freedom Investment Management Inc. increased its position in shares of McCormick & Company, Incorporated by 14.3% during the fourth quarter. Freedom Investment Management Inc. now owns 3,116 shares of the company's stock valued at $238,000 after buying an additional 389 shares during the period. MetLife Investment Management LLC increased its position in shares of McCormick & Company, Incorporated by 1.9% during the fourth quarter. MetLife Investment Management LLC now owns 66,741 shares of the company's stock valued at $5,088,000 after buying an additional 1,217 shares during the period. Finally, MML Investors Services LLC increased its position in shares of McCormick & Company, Incorporated by 10.3% during the fourth quarter. MML Investors Services LLC now owns 32,627 shares of the company's stock valued at $2,487,000 after buying an additional 3,049 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Up 1.1%

MKC stock opened at $69.8120 on Thursday. McCormick & Company, Incorporated has a 1-year low of $68.23 and a 1-year high of $86.24. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The company's 50 day moving average is $72.31 and its 200 day moving average is $75.50. The stock has a market cap of $18.74 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 3.32 and a beta of 0.66.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the business earned $0.69 earnings per share. The business'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. Sell-side 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 declared 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MKC shares. Stifel Nicolaus decreased their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $69.00 to $83.00 in a research report on Wednesday. Citigroup decreased their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price objective on the stock. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.75.

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.

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