Ascent Group LLC Reduces Stake in McCormick & Company, Incorporated $MKC

Ascent Group LLC lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 27.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,790 shares of the company’s stock after selling 1,437 shares during the period. Ascent Group LLC’s holdings in McCormick & Company, Incorporated were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in McCormick & Company, Incorporated by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 31,874,039 shares of the company’s stock valued at $2,623,552,000 after acquiring 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 worth $340,406,000 after purchasing an additional 920,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in McCormick & Company, Incorporated by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,230,719 shares of the company’s stock worth $265,920,000 after purchasing an additional 184,230 shares during the period. Goldman Sachs Group Inc. grew its position in McCormick & Company, Incorporated by 2.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company’s stock worth $194,253,000 after purchasing an additional 60,604 shares during the period. Finally, Alecta Tjanstepension Omsesidigt grew its position in McCormick & Company, Incorporated by 94.7% during the 2nd quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock worth $134,795,000 after purchasing an additional 865,500 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 3.8%

McCormick & Company, Incorporated stock opened at $65.71 on Wednesday. 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. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The business has a 50 day simple moving average of $68.81 and a 200-day simple moving average of $72.69. 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 released its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company earned $0.83 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. 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. JPMorgan Chase & Co. decreased their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Jefferies Financial Group decreased their price target on McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Wall Street Zen lowered shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.29.

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.