UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 184,230 Shares of McCormick & Company, Incorporated $MKC

Key Points

• UBS Asset Management increased its stake in McCormick & Company by 6.0%, acquiring an additional 184,230 shares to own a total of 3,230,719 shares valued at approximately $265.9 million.
• Research firms have varied ratings on McCormick, with JPMorgan upgrading the stock to "overweight" and raising its price target from $69.00 to $83.00, while several others maintain "hold" ratings with lower price objectives.
• McCormick's recent earnings report showed a profit of $0.69 EPS, exceeding estimates, but its revenue of $1.66 billion fell slightly short of expectations, leading to a modest 1.0% growth year-over-year.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,230,719 shares of the company's stock after acquiring an additional 184,230 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.20% of McCormick & Company, Incorporated worth $265,920,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Analysts LLC bought a new position in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $26,000. Zions Bancorporation National Association UT bought a new position in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $28,000. Wayfinding Financial LLC bought a new position in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $30,000. Salem Investment Counselors Inc. boosted its stake in shares of McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after purchasing an additional 336 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter valued at approximately $33,000. 79.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MKC. 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. Stifel Nicolaus dropped their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $69.00 to $83.00 in a research note on Wednesday, August 20th. UBS Group dropped their price objective on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, August 22nd. Finally, Citigroup dropped 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 note on Tuesday, June 17th. 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.25.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $68.58 on Thursday. The company has a market cap of $18.40 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 3.42 and a beta of 0.65. McCormick & Company, Incorporated has a twelve month low of $67.71 and a twelve month 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 $70.94 and a two-hundred day moving average of $74.74.

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, beating the consensus estimate 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 revenue was up 1.0% compared to the same quarter last year. During the same period 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, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.50%.

About McCormick & Company, Incorporated

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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