Birch Capital Management LLC Cuts Stake in McCormick & Company, Incorporated $MKC

Birch Capital Management LLC reduced its position in McCormick & Company, Incorporated (NYSE:MKC) by 22.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,580 shares of the company’s stock after selling 460 shares during the quarter. Birch Capital Management LLC’s holdings in McCormick & Company, Incorporated were worth $120,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI purchased a new position in McCormick & Company, Incorporated during the 2nd quarter valued at about $225,000. Moseley Investment Management Inc. increased its holdings in McCormick & Company, Incorporated by 1.8% during the second quarter. Moseley Investment Management Inc. now owns 18,255 shares of the company’s stock valued at $1,384,000 after buying an additional 330 shares during the period. Callan Family Office LLC raised its stake in McCormick & Company, Incorporated by 80.0% in the second quarter. Callan Family Office LLC now owns 5,058 shares of the company’s stock worth $383,000 after buying an additional 2,248 shares in the last quarter. Notis McConarty Edward lifted its holdings in McCormick & Company, Incorporated by 14.8% during the second quarter. Notis McConarty Edward now owns 40,800 shares of the company’s stock worth $3,093,000 after buying an additional 5,270 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in McCormick & Company, Incorporated by 4.0% during the second quarter. Vontobel Holding Ltd. now owns 48,242 shares of the company’s stock worth $3,658,000 after buying an additional 1,844 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock opened at $66.05 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.27. The business has a fifty day moving average of $68.61 and a 200 day moving average of $72.55. The firm has a market capitalization of $17.73 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 3.61 and a beta of 0.63. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business posted $0.83 earnings per share. The company’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. As a group, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is 62.28%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MKC shares. Sanford C. Bernstein cut their price target on McCormick & Company, Incorporated from $102.00 to $93.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup cut 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. Weiss Ratings reiterated a “hold (c)” rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. Wall Street Zen cut shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $78.22.

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.