MetLife Investment Management LLC Trims Position in McCormick & Company, Incorporated $MKC

MetLife Investment Management LLC trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 1.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 65,571 shares of the company’s stock after selling 1,170 shares during the quarter. MetLife Investment Management LLC’s holdings in McCormick & Company, Incorporated were worth $5,397,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MKC. Capital Analysts LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter worth about $26,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated during the first quarter worth about $28,000. Wayfinding Financial LLC acquired a new position in shares of McCormick & Company, Incorporated during the first quarter worth about $30,000. Salem Investment Counselors Inc. increased its stake in shares of McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock worth $32,000 after acquiring an additional 336 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth about $33,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MKC shares. UBS Group dropped their price target on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, August 22nd. Stifel Nicolaus dropped their price target on shares of 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. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Citigroup lowered their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.25.

McCormick & Company, Incorporated Trading Down 1.1%

Shares of MKC opened at $69.90 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. The firm’s 50-day moving average is $71.95 and its two-hundred day moving average is $75.23. McCormick & Company, Incorporated has a twelve month low of $68.23 and a twelve month high of $86.24. The firm has a market capitalization of $18.76 billion, a P/E ratio of 24.27, a PEG ratio of 3.47 and a beta of 0.66.

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. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were given a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. McCormick & Company, Incorporated’s dividend payout ratio is currently 62.50%.

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.