Armstrong Henry H Associates Inc. Cuts Stock Position in McCormick & Company, Incorporated $MKC

Armstrong Henry H Associates Inc. lowered its position in McCormick & Company, Incorporated (NYSE:MKC) by 5.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,913 shares of the company’s stock after selling 1,040 shares during the period. Armstrong Henry H Associates Inc.’s holdings in McCormick & Company, Incorporated were worth $1,434,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of McCormick & Company, Incorporated by 14.6% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 23,045 shares of the company’s stock worth $1,747,000 after buying an additional 2,936 shares during the last quarter. Norway Savings Bank boosted its stake in McCormick & Company, Incorporated by 16.6% in the 2nd quarter. Norway Savings Bank now owns 3,695 shares of the company’s stock worth $280,000 after purchasing an additional 527 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in McCormick & Company, Incorporated in the 1st quarter worth approximately $948,000. Swedbank AB boosted its stake in McCormick & Company, Incorporated by 187.7% in the 1st quarter. Swedbank AB now owns 605,543 shares of the company’s stock worth $49,842,000 after purchasing an additional 395,071 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in McCormick & Company, Incorporated by 12.9% in the 1st quarter. Inspire Investing LLC now owns 3,820 shares of the company’s stock worth $314,000 after purchasing an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC opened at $69.00 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 12 month low of $67.71 and a 12 month high of $86.24. The company has a 50 day simple moving average of $70.70 and a two-hundred day simple moving average of $74.53. The stock has a market cap of $18.52 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 3.43 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the business posted $0.69 EPS. The business’s quarterly 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. As a group, analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced 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. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated’s payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of recent analyst reports. UBS Group lowered 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 note on Friday, August 22nd. Wall Street Zen cut shares of McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $69.00 to $83.00 in a research note on Wednesday, August 20th. Citigroup lowered 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 note on Tuesday, June 17th. Finally, Stifel Nicolaus decreased their price objective on shares of 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.25.

McCormick & Company, Incorporated Company 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.