DAVENPORT & Co LLC Acquires 1,410 Shares of McCormick & Company, Incorporated $MKC

DAVENPORT & Co LLC boosted its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,156 shares of the company’s stock after acquiring an additional 1,410 shares during the quarter. DAVENPORT & Co LLC’s holdings in McCormick & Company, Incorporated were worth $5,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MKC. Sivia Capital Partners LLC bought a new position in McCormick & Company, Incorporated in the 1st quarter valued at approximately $206,000. Miracle Mile Advisors LLC lifted its holdings in shares of McCormick & Company, Incorporated by 1.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company’s stock valued at $912,000 after buying an additional 146 shares during the period. Portside Wealth Group LLC lifted its holdings in shares of McCormick & Company, Incorporated by 5.0% during the 1st quarter. Portside Wealth Group LLC now owns 8,120 shares of the company’s stock valued at $668,000 after buying an additional 387 shares during the period. Pallas Capital Advisors LLC bought a new position in shares of McCormick & Company, Incorporated during the 1st quarter valued at $434,000. Finally, Yousif Capital Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 3.2% during the 1st quarter. Yousif Capital Management LLC now owns 120,791 shares of the company’s stock valued at $9,942,000 after buying an additional 3,783 shares during the period. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $65.71 on Wednesday. McCormick & Company, Incorporated has a one year low of $63.66 and a one year high of $86.24. The stock’s fifty day moving average is $68.81 and its 200 day moving average is $72.69. The stock has a market cap of $17.63 billion, a P/E ratio of 22.82, a P/E/G ratio of 3.39 and a beta of 0.63. 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 (NYSE:MKC) last announced its earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the firm earned $0.83 EPS. McCormick & Company, Incorporated’s revenue for the quarter was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated’s dividend payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group lowered their price target on McCormick & Company, Incorporated from $79.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c)” rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. Stifel Nicolaus lowered their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, July 29th. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Finally, Citigroup decreased their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, June 17th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus price target of $80.29.

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.