Somerville Kurt F Grows Holdings in McCormick & Company, Incorporated $MKC

Somerville Kurt F grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 3.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 112,631 shares of the company’s stock after acquiring an additional 4,055 shares during the period. McCormick & Company, Incorporated comprises 1.4% of Somerville Kurt F’s investment portfolio, making the stock its 25th biggest holding. Somerville Kurt F’s holdings in McCormick & Company, Incorporated were worth $8,540,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MKC. IFM Investors Pty Ltd grew its holdings in shares of McCormick & Company, Incorporated by 13.3% in the first quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock valued at $4,091,000 after purchasing an additional 5,829 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $260,000. Stratos Wealth Partners LTD. grew its holdings in shares of McCormick & Company, Incorporated by 5.7% in the first quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock valued at $7,267,000 after purchasing an additional 4,771 shares in the last quarter. Retirement Guys Formula LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $988,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of McCormick & Company, Incorporated by 10.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company’s stock valued at $3,464,000 after purchasing an additional 3,877 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Down 3.8%

NYSE MKC 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. McCormick & Company, Incorporated has a 52 week low of $63.66 and a 52 week high of $86.24. The stock has a market capitalization of $17.63 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 3.39 and a beta of 0.63. The firm has a 50 day moving average of $68.81 and a two-hundred day moving average of $72.69.

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

McCormick & Company, Incorporated Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating for the company in a report on Monday, September 22nd. JPMorgan Chase & Co. dropped their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. UBS Group dropped their price objective on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Citigroup lowered 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 report on Tuesday, June 17th. Finally, Stifel Nicolaus lowered 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 report on Tuesday, July 29th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus 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.