McCormick & Company, Incorporated $MKC Shares Sold by Level Four Advisory Services LLC

Level Four Advisory Services LLC cut its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.8% during the first quarter, Holdings Channel reports. The institutional investor owned 68,503 shares of the company’s stock after selling 2,738 shares during the period. Level Four Advisory Services LLC’s holdings in McCormick & Company, Incorporated were worth $5,639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in McCormick & Company, Incorporated by 0.4% in the first quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company’s stock valued at $2,623,552,000 after buying an additional 136,729 shares in the last quarter. Northern Trust Corp raised its stake in McCormick & Company, Incorporated by 16.8% in the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock valued at $281,573,000 after buying an additional 531,060 shares in the last quarter. Voya Investment Management LLC raised its stake in McCormick & Company, Incorporated by 10.2% in the fourth quarter. Voya Investment Management LLC now owns 3,530,972 shares of the company’s stock valued at $269,060,000 after buying an additional 326,041 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in McCormick & Company, Incorporated by 6.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,215,030 shares of the company’s stock valued at $245,114,000 after buying an additional 190,856 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in McCormick & Company, Incorporated by 1.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company’s stock valued at $232,264,000 after buying an additional 43,353 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $69.8120 on Thursday. 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 $68.23 and a 52-week high of $86.24. The business’s 50-day moving average price is $72.31 and its 200 day moving average price is $75.50. The firm has a market cap of $18.74 billion, a P/E ratio of 24.24, a P/E/G ratio of 3.32 and a beta of 0.66.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the company posted $0.69 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 62.50%.

Analysts Set New Price Targets

A number of analysts have weighed in on MKC shares. Citigroup cut their price target on 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. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Stifel Nicolaus cut their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a research report on Tuesday, July 29th. UBS Group assumed coverage on McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $69.00 to $83.00 in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and an average target price of $84.75.

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.