Mirae Asset Global Investments Co. Ltd. Buys 2,546 Shares of McCormick & Company, Incorporated $MKC

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,070 shares of the company’s stock after acquiring an additional 2,546 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in McCormick & Company, Incorporated were worth $3,417,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MKC. Sivia Capital Partners LLC bought a new stake in McCormick & Company, Incorporated during the 1st quarter worth about $206,000. Miracle Mile Advisors LLC grew 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. Portside Wealth Group LLC grew its holdings in McCormick & Company, Incorporated by 5.0% during the 1st quarter. Portside Wealth Group LLC now owns 8,120 shares of the company’s stock worth $668,000 after acquiring an additional 387 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in McCormick & Company, Incorporated during the 1st quarter worth about $434,000. Finally, Yousif Capital Management LLC grew its holdings in McCormick & Company, Incorporated by 3.2% during the 1st quarter. Yousif Capital Management LLC now owns 120,791 shares of the company’s stock worth $9,942,000 after acquiring an additional 3,783 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $65.71 on Wednesday. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 22.82, a P/E/G ratio of 3.39 and a beta of 0.63. The firm’s 50 day simple moving average is $68.81 and its 200 day simple moving average is $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 has a fifty-two week low of $63.66 and a fifty-two week high of $86.24.

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

McCormick & Company, Incorporated Dividend Announcement

The company 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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Stifel Nicolaus reduced their target price on shares of 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. Jefferies Financial Group reduced their target price on shares of McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. UBS Group reduced their target price on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of McCormick & Company, Incorporated in a research note on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.