Haverford Trust Co Has $25.72 Million Stake in McCormick & Company, Incorporated $MKC

Haverford Trust Co grew its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 4.8% during the first quarter, Holdings Channel reports. The firm owned 312,427 shares of the company’s stock after acquiring an additional 14,381 shares during the quarter. Haverford Trust Co’s holdings in McCormick & Company, Incorporated were worth $25,716,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted 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 during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of McCormick & Company, Incorporated by 28.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after purchasing an additional 920,618 shares during the period. Northern Trust Corp raised its holdings in shares of McCormick & Company, Incorporated by 16.8% during the fourth quarter. Northern Trust Corp now owns 3,693,239 shares of the company’s stock valued at $281,573,000 after purchasing an additional 531,060 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in McCormick & Company, Incorporated by 1.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,046,489 shares of the company’s stock worth $232,264,000 after buying an additional 43,353 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in McCormick & Company, Incorporated by 47.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,843,273 shares of the company’s stock worth $216,771,000 after buying an additional 915,807 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of research reports. Citigroup dropped 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 raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $69.00 to $83.00 in a report on Wednesday. Stifel Nicolaus lowered their price objective 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. Finally, UBS Group lowered their price objective on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.25.

McCormick & Company, Incorporated Trading Up 1.6%

Shares of McCormick & Company, Incorporated stock opened at $72.2360 on Friday. McCormick & Company, Incorporated has a 1 year low of $68.23 and a 1 year high of $86.24. The stock has a fifty day moving average price of $72.18 and a 200-day moving average price of $75.42. 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 firm has a market cap of $19.39 billion, a PE ratio of 25.08, a P/E/G ratio of 3.42 and a beta of 0.66.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Equities research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders 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 annualized dividend and a dividend yield of 2.5%. McCormick & Company, Incorporated’s payout ratio is 62.50%.

McCormick & Company, Incorporated Company 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.