State of Wyoming Takes $68,000 Position in McCormick & Company, Incorporated $MKC

State of Wyoming bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 826 shares of the company’s stock, valued at approximately $68,000.

A number of other large investors also recently added to or reduced their stakes in MKC. Capital Analysts LLC acquired a new position in McCormick & Company, Incorporated during the first quarter worth $26,000. Zions Bancorporation National Association UT acquired a new position in McCormick & Company, Incorporated during the first quarter worth $28,000. Wayfinding Financial LLC acquired a new position in McCormick & Company, Incorporated during the first quarter worth $30,000. Salem Investment Counselors Inc. lifted its stake in McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock worth $32,000 after purchasing an additional 336 shares in the last quarter. Finally, Ameriflex Group Inc. acquired a new position in McCormick & Company, Incorporated during the fourth quarter worth $33,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on MKC. JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $69.00 to $83.00 in a research note on Wednesday, August 20th. UBS Group decreased their price target on McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, August 22nd. Stifel Nicolaus decreased their price target on 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. Citigroup dropped their price target 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. Finally, Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. One 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.25.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC opened at $70.16 on Tuesday. The company has a fifty day simple moving average of $71.25 and a two-hundred day simple moving average of $74.82. The company has a market cap of $18.83 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.48 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. McCormick & Company, Incorporated has a 52 week low of $68.23 and a 52 week high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated’s dividend payout ratio is 62.50%.

About McCormick & Company, Incorporated

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.