Cardinal Capital Management Buys 3,645 Shares of McCormick & Company, Incorporated $MKC

Cardinal Capital Management grew its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,184 shares of the company’s stock after purchasing an additional 3,645 shares during the quarter. Cardinal Capital Management’s holdings in McCormick & Company, Incorporated were worth $7,596,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Gries Financial LLC raised its position in shares of McCormick & Company, Incorporated by 2.2% in the 2nd quarter. Gries Financial LLC now owns 22,290 shares of the company’s stock worth $1,690,000 after acquiring an additional 483 shares in the last quarter. KFG Wealth Management LLC increased its holdings in McCormick & Company, Incorporated by 5.5% in the second quarter. KFG Wealth Management LLC now owns 10,467 shares of the company’s stock worth $794,000 after purchasing an additional 546 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new stake in McCormick & Company, Incorporated in the second quarter worth approximately $899,000. Bridge Creek Capital Management LLC increased its stake in shares of McCormick & Company, Incorporated by 1.8% in the 2nd quarter. Bridge Creek Capital Management LLC now owns 77,394 shares of the company’s stock valued at $5,868,000 after acquiring an additional 1,343 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of McCormick & Company, Incorporated by 3.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 12,802 shares of the company’s stock valued at $971,000 after acquiring an additional 380 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MKC. Citigroup lowered their price objective on shares of 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. UBS Group decreased their price target on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. Stifel Nicolaus decreased 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 research note on Tuesday, July 29th. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $69.00 to $83.00 in a research report on Wednesday, August 20th. Finally, Wall Street Zen lowered McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. One research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.25.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $64.74 on Tuesday. The firm has a market cap of $17.38 billion, a PE ratio of 22.48, a P/E/G ratio of 3.22 and a beta of 0.65. 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 $69.94 and a 200-day moving average of $73.78. McCormick & Company, Incorporated has a 12-month low of $64.53 and a 12-month high of $86.24.

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. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

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.