Woodley Farra Manion Portfolio Management Inc. acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) during the third quarter, HoldingsChannel reports. The fund acquired 46,283 shares of the company’s stock, valued at approximately $2,148,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parvin Asset Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the second quarter worth approximately $25,000. Byrne Asset Management LLC acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $30,000. Ancora Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $34,000. Essential Partners LLC increased its holdings in shares of McCormick & Company, Incorporated by 146.5% in the first quarter. Essential Partners LLC now owns 742 shares of the company’s stock valued at $37,000 after purchasing an additional 441 shares in the last quarter. Finally, Provenance Wealth Advisors LLC bought a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $42,000. Institutional investors and hedge funds own 79.74% of the company’s stock.
McCormick & Company, Incorporated Price Performance
McCormick & Company, Incorporated stock opened at $46.76 on Wednesday. The firm has a market capitalization of $12.58 billion, a P/E ratio of 15.06, a PEG ratio of 2.02 and a beta of 0.66. McCormick & Company, Incorporated has a 1 year low of $43.25 and a 1 year high of $72.41. The business has a 50-day moving average of $48.19 and a 200-day moving average of $52.91. The company has a current ratio of 0.66, a quick ratio of 0.33 and a debt-to-equity ratio of 0.38.
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last announced its quarterly earnings results on Thursday, October 1st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. McCormick & Company, Incorporated had a return on equity of 12.01% and a net margin of 19.39%. McCormick & Company, Incorporated’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current year.
McCormick & Company, Incorporated Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Tuesday, October 13th were issued a dividend of $0.48 per share. The ex-dividend date was Tuesday, October 13th. This represents a $1.92 dividend on an annualized basis and a yield of 4.1%. McCormick & Company, Incorporated’s payout ratio is currently 34.72%.
Analyst Upgrades and Downgrades
MKC has been the topic of several analyst reports. BNP Paribas Exane cut their price objective on shares of McCormick & Company, Incorporated from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. Weiss Ratings raised shares of McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McCormick & Company, Incorporated from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, September 21st. Finally, Stifel Nicolaus dropped their target price on shares of McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating for the company in a research report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and a consensus price target of $55.30.
Check Out Our Latest Stock Report on MKC
About McCormick & Company, Incorporated
McCormick & Company, Incorporated manufactures, markets and distributes spices, herbs, seasonings, condiments and other flavor products. Its offerings include individual spices and herbs, seasoning blends, extracts, sauces and hot sauces sold under brands such as McCormick, French’s, Frank’s RedHot, OLD BAY and Cholula. The company serves consumers through retail stores and e-commerce, and supplies flavor products and solutions to food service businesses and food and beverage manufacturers. Its products are sold in markets around the world.
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