Sachetta LLC Cuts Holdings in McCormick & Company, Incorporated $MKC

Sachetta LLC cut its stake in McCormick & Company, Incorporated (NYSE:MKC) by 47.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 929 shares of the company’s stock after selling 848 shares during the quarter. Sachetta LLC’s holdings in McCormick & Company, Incorporated were worth $70,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Analysts LLC purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $26,000. Zions Bancorporation National Association UT acquired a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at about $28,000. Wayfinding Financial LLC acquired a new stake in shares of McCormick & Company, Incorporated during the first quarter valued at about $30,000. Salem Investment Counselors Inc. grew 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 acquiring an additional 336 shares in the last quarter. Finally, Stonebridge Financial Group LLC grew its stake in shares of McCormick & Company, Incorporated by 101.0% during the first quarter. Stonebridge Financial Group LLC now owns 402 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $65.71 on Wednesday. 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 business has a 50 day moving average of $68.81 and a two-hundred day moving average of $72.69. McCormick & Company, Incorporated has a 52 week low of $63.66 and a 52 week high of $86.24. The company has a market cap of $17.63 billion, a P/E ratio of 22.82, a PEG ratio of 3.39 and a beta of 0.63.

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

McCormick & Company, Incorporated Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup lowered their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Tuesday, June 17th. Wall Street Zen downgraded McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Stifel Nicolaus decreased their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a research note on Tuesday, July 29th. JPMorgan Chase & Co. decreased their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of McCormick & Company, Incorporated in a research note on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $80.29.

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.