IFM Investors Pty Ltd Boosts Stock Holdings in McCormick & Company, Incorporated $MKC

IFM Investors Pty Ltd grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,357 shares of the company’s stock after acquiring an additional 2,474 shares during the quarter. IFM Investors Pty Ltd’s holdings in McCormick & Company, Incorporated were worth $3,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. EagleClaw Capital Managment LLC boosted its holdings in McCormick & Company, Incorporated by 0.4% during the 1st quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company’s stock worth $3,018,000 after acquiring an additional 135 shares during the last quarter. Sage Capital Advisors llc boosted its holdings in McCormick & Company, Incorporated by 2.8% during the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company’s stock worth $413,000 after acquiring an additional 137 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in McCormick & Company, Incorporated by 1.8% during the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company’s stock worth $643,000 after acquiring an additional 140 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in McCormick & Company, Incorporated by 1.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company’s stock worth $912,000 after acquiring an additional 146 shares during the last quarter. Finally, Signal Advisors Wealth LLC boosted its holdings in McCormick & Company, Incorporated by 3.5% during the 1st quarter. Signal Advisors Wealth LLC now owns 4,802 shares of the company’s stock worth $395,000 after acquiring an additional 163 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MKC has been the topic of a number of analyst reports. Wall Street Zen raised shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. UBS Group lowered their target price on McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, August 22nd. Stifel Nicolaus lowered their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, July 29th. 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 note on Wednesday, August 20th. Finally, Citigroup lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $84.25.

McCormick & Company, Incorporated Trading Up 1.8%

NYSE MKC opened at $69.84 on Friday. McCormick & Company, Incorporated has a one year low of $67.71 and a one year high of $86.24. The business’s fifty day moving average is $70.83 and its 200-day moving average is $74.67. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 3.37 and a beta of 0.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the business posted $0.69 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

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.