McCormick & Company, Incorporated $MKC Shares Bought by Truist Financial Corp

Truist Financial Corp raised its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,589 shares of the company’s stock after purchasing an additional 1,928 shares during the period. Truist Financial Corp’s holdings in McCormick & Company, Incorporated were worth $4,897,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Sivia Capital Partners LLC purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter worth approximately $206,000. Miracle Mile Advisors LLC increased its position in shares of McCormick & Company, Incorporated by 1.3% during the first quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company’s stock worth $912,000 after purchasing an additional 146 shares in the last quarter. Portside Wealth Group LLC increased its position in shares of McCormick & Company, Incorporated by 5.0% during the first quarter. Portside Wealth Group LLC now owns 8,120 shares of the company’s stock worth $668,000 after purchasing an additional 387 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated during the first quarter worth approximately $434,000. Finally, Yousif Capital Management LLC increased its position in shares of McCormick & Company, Incorporated by 3.2% during the first quarter. Yousif Capital Management LLC now owns 120,791 shares of the company’s stock worth $9,942,000 after purchasing an additional 3,783 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $65.71 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $17.63 billion, a PE ratio of 22.82, a P/E/G ratio of 3.39 and a beta of 0.63. McCormick & Company, Incorporated has a 12-month low of $63.66 and a 12-month high of $86.24. The business’s fifty day moving average price is $68.81 and its 200 day moving average price is $72.69.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data 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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current 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 dividend of $0.45 per share. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 annualized dividend and a yield of 2.7%. McCormick & Company, Incorporated’s dividend payout ratio is 62.50%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MKC. Citigroup dropped their price target on 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. UBS Group lowered their price objective on 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. Wall Street Zen lowered McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Stifel Nicolaus lowered their price objective 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. Finally, Jefferies Financial Group lowered their price objective on 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. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average 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.