McCormick & Company, Incorporated $MKC Stock Holdings Lifted by Focus Financial Network Inc.

Focus Financial Network Inc. raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,426 shares of the company’s stock after buying an additional 200 shares during the period. Focus Financial Network Inc.’s holdings in McCormick & Company, Incorporated were worth $487,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Analysts LLC purchased a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at $26,000. Zions Bancorporation National Association UT bought a new stake in McCormick & Company, Incorporated in the first quarter worth $28,000. Wayfinding Financial LLC bought a new stake in McCormick & Company, Incorporated in the first quarter worth $30,000. Salem Investment Counselors Inc. boosted its holdings in McCormick & Company, Incorporated by 610.9% in 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. bought a new stake in McCormick & Company, Incorporated in the fourth quarter worth $33,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of recent research reports. Wall Street Zen cut shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. UBS Group cut their target price on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. Stifel Nicolaus cut their target price on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, July 29th. Finally, Citigroup cut their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Moderate Buy” and a consensus price target of $84.25.

McCormick & Company, Incorporated Price Performance

MKC opened at $65.54 on Friday. McCormick & Company, Incorporated has a one year low of $65.47 and a one year high of $86.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27. The company’s 50 day simple moving average is $70.08 and its 200-day simple moving average is $73.96. The stock has a market capitalization of $17.59 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 3.22 and a beta of 0.65.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 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.