McCormick & Company, Incorporated $MKC Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC cut its position in McCormick & Company, Incorporated (NYSE:MKC) by 26.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,861 shares of the company’s stock after selling 1,410 shares during the quarter. Pallas Capital Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MKC. Capital Analysts LLC acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth about $26,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $28,000. Wayfinding Financial LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $30,000. Salem Investment Counselors Inc. increased its holdings in shares of McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock valued at $32,000 after purchasing an additional 336 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at approximately $33,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MKC has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $69.00 to $83.00 in a report on Wednesday, August 20th. Stifel Nicolaus cut their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a research note on Tuesday, July 29th. Citigroup cut their target price on 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. Wall Street Zen downgraded McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Finally, UBS Group dropped their price objective on McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.25.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $65.54 on Monday. The business’s fifty day moving average price is $70.08 and its two-hundred day moving average price is $73.90. The stock has a market cap of $17.59 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 3.22 and a beta of 0.65. 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 has a one year low of $65.47 and a one year high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.McCormick & Company, Incorporated’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS 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. Stockholders of record on Monday, July 7th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.50%.

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.