McCormick & Company, Incorporated $MKC Stake Decreased by Sachetta LLC

Sachetta LLC lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 47.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 929 shares of the company’s stock after selling 848 shares during the period. Sachetta LLC’s holdings in McCormick & Company, Incorporated were worth $70,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of McCormick & Company, Incorporated by 0.4% during 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 last quarter. 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 buying an additional 920,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of McCormick & Company, Incorporated by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,230,719 shares of the company’s stock valued at $265,920,000 after buying an additional 184,230 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of McCormick & Company, Incorporated by 2.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,360,020 shares of the company’s stock valued at $194,253,000 after buying an additional 60,604 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt raised its holdings in shares of McCormick & Company, Incorporated by 94.7% during the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company’s stock valued at $134,795,000 after buying an additional 865,500 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $65.71 on Wednesday. The stock has a market capitalization of $17.63 billion, a P/E ratio of 22.82, a P/E/G ratio of 3.39 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. The business’s fifty day moving average is $68.81 and its two-hundred day moving average is $72.69. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MKC shares. Jefferies Financial Group dropped their target price on McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. UBS Group dropped their target price on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Finally, Stifel Nicolaus dropped their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, July 29th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.29.

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.