TriaGen Wealth Management LLC Acquires Shares of 24,500 McCormick & Company, Incorporated $MKC

Key Points

• TriaGen Wealth Management LLC has acquired 24,500 shares of McCormick & Company, valued at approximately $2,017,000, as part of its 1st quarter investments.
• Wall Street analysts currently rate McCormick with a consensus of "Hold," with price targets averaging around $83.00.
• McCormick recently declared a quarterly dividend of $0.45 per share, translating to an annualized yield of 2.6% and a payout ratio of 62.50%.

TriaGen Wealth Management LLC acquired a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,500 shares of the company's stock, valued at approximately $2,017,000.

Several other large investors have also recently modified their holdings of MKC. Zions Bancorporation National Association UT acquired a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $28,000. Wayfinding Financial LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter valued at about $30,000. Salem Investment Counselors Inc. raised its position in shares of McCormick & Company, Incorporated by 610.9% in the 1st quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after purchasing an additional 336 shares during the last quarter. Stonebridge Financial Group LLC boosted its stake in McCormick & Company, Incorporated by 101.0% in the 1st quarter. Stonebridge Financial Group LLC now owns 402 shares of the company's stock worth $33,000 after purchasing an additional 202 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in McCormick & Company, Incorporated in the 4th quarter worth approximately $33,000. Institutional investors own 79.74% of the company's stock.

Wall Street Analyst Weigh In

MKC has been the topic of a number of recent analyst reports. Wall Street Zen upgraded 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 McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their target price for the company from $69.00 to $83.00 in a research report on Wednesday. Citigroup lowered their price target 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 assumed coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price target on the stock. Finally, Stifel Nicolaus cut their price objective 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 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.75.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded up $0.7620 during trading hours on Wednesday, reaching $69.8120. The company had a trading volume of 2,446,246 shares, compared to its average volume of 2,301,328. 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 has a 1-year low of $68.23 and a 1-year high of $86.24. The business's 50 day moving average price is $72.43 and its 200-day moving average price is $75.54. The firm has a market cap of $18.74 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 3.29 and a beta of 0.66.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the firm earned $0.69 EPS. 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. Research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's payout ratio is currently 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.