DLK Investment Management LLC Grows Stock Position in McCormick & Company, Incorporated $MKC

DLK Investment Management LLC boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,957 shares of the company’s stock after buying an additional 708 shares during the quarter. McCormick & Company, Incorporated accounts for approximately 1.9% of DLK Investment Management LLC’s investment portfolio, making the stock its 23rd largest position. DLK Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $5,077,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MKC. Westbourne Investments Inc. bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth about $250,000. Czech National Bank raised its position in McCormick & Company, Incorporated by 6.5% in the 2nd quarter. Czech National Bank now owns 61,764 shares of the company’s stock worth $4,683,000 after purchasing an additional 3,765 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in McCormick & Company, Incorporated by 14.6% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 23,045 shares of the company’s stock worth $1,747,000 after purchasing an additional 2,936 shares during the last quarter. Norway Savings Bank lifted its stake in McCormick & Company, Incorporated by 16.6% in the second quarter. Norway Savings Bank now owns 3,695 shares of the company’s stock worth $280,000 after purchasing an additional 527 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of McCormick & Company, Incorporated during the first quarter valued at approximately $948,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $67.20 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The company’s fifty day moving average price is $70.44 and its 200-day moving average price is $74.32. McCormick & Company, Incorporated has a 1-year low of $65.95 and a 1-year high of $86.24. The firm has a market capitalization of $18.03 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 3.24 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (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 analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MKC. Wall Street Zen lowered McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $69.00 to $83.00 in a research note on Wednesday, August 20th. Stifel Nicolaus cut their price target 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. Citigroup decreased their price objective 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. Finally, UBS Group dropped 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 research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.25.

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.