QRG Capital Management Inc. Raises Stock Position in McCormick & Company, Incorporated $MKC

QRG Capital Management Inc. boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,275 shares of the company’s stock after purchasing an additional 557 shares during the period. QRG Capital Management Inc.’s holdings in McCormick & Company, Incorporated were worth $1,537,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. EagleClaw Capital Managment LLC raised its stake in McCormick & Company, Incorporated by 0.4% during the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock worth $3,018,000 after purchasing an additional 135 shares during the period. Miracle Mile Advisors LLC increased its position in shares of McCormick & Company, Incorporated by 1.3% during the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company’s stock valued at $912,000 after acquiring an additional 146 shares during the last quarter. Raab & Moskowitz Asset Management LLC increased its position in shares of McCormick & Company, Incorporated by 5.0% during the first quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company’s stock valued at $289,000 after acquiring an additional 167 shares during the last quarter. Horizon Investments LLC increased its position in shares of McCormick & Company, Incorporated by 5.0% during the first quarter. Horizon Investments LLC now owns 3,621 shares of the company’s stock valued at $296,000 after acquiring an additional 173 shares during the last quarter. Finally, ORG Partners LLC increased its position in shares of McCormick & Company, Incorporated by 13.2% during the second quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock valued at $115,000 after acquiring an additional 173 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Down 3.8%

Shares of MKC stock opened at $65.71 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The stock has a market capitalization of $17.63 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 3.39 and a beta of 0.63. The company has a 50 day moving average price of $68.81 and a 200 day moving average price of $72.69. McCormick & Company, Incorporated has a fifty-two week low of $63.66 and a fifty-two week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated’s payout ratio is currently 62.50%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus dropped 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 research report on Tuesday, July 29th. Jefferies Financial Group dropped their price target on shares of McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. UBS Group dropped their price target on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Wall Street Zen cut shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Finally, Citigroup dropped 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 research report on Tuesday, June 17th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $80.29.

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.