Jacobs & Co. CA lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 39.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 53,148 shares of the company’s stock after selling 35,333 shares during the period. Jacobs & Co. CA’s holdings in McCormick & Company, Incorporated were worth $2,679,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Deseret Mutual Benefit Administrators increased its stake in McCormick & Company, Incorporated by 67.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after purchasing an additional 164 shares in the last quarter. Glen Eagle Advisors LLC boosted its holdings in shares of McCormick & Company, Incorporated by 42.5% in the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock valued at $39,000 after buying an additional 170 shares during the period. Van ECK Associates Corp boosted its holdings in shares of McCormick & Company, Incorporated by 10.5% in the fourth quarter. Van ECK Associates Corp now owns 1,795 shares of the company’s stock valued at $122,000 after buying an additional 171 shares during the period. Smartleaf Asset Management LLC increased its position in shares of McCormick & Company, Incorporated by 10.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,910 shares of the company’s stock worth $131,000 after acquiring an additional 176 shares in the last quarter. Finally, Modern Wealth Management LLC increased its position in shares of McCormick & Company, Incorporated by 5.9% during the second quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock worth $247,000 after acquiring an additional 181 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MKC has been the topic of several research reports. Barclays cut their price objective on shares of McCormick & Company, Incorporated from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft increased their target price on McCormick & Company, Incorporated from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, June 26th. UBS Group lifted their price target on McCormick & Company, Incorporated from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Sanford C. Bernstein decreased their price objective on McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.50.
McCormick & Company, Incorporated Trading Up 1.3%
Shares of McCormick & Company, Incorporated stock opened at $52.94 on Friday. McCormick & Company, Incorporated has a 12-month low of $44.82 and a 12-month high of $72.58. The stock has a market cap of $14.23 billion, a P/E ratio of 8.81, a P/E/G ratio of 2.65 and a beta of 0.64. The company has a quick ratio of 0.39, a current ratio of 0.78 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $50.22 and its 200-day moving average is $54.74.
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last released its earnings results on Thursday, June 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the business earned $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.
McCormick & Company, Incorporated Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were paid a $0.48 dividend. The ex-dividend date was Monday, July 6th. This represents a $1.92 dividend on an annualized basis and a yield of 3.6%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 31.95%.
About McCormick & Company, Incorporated
McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.
McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.
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