XXEC Inc. acquired a new position in McCormick & Company, Incorporated (NYSE:MKC – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,414,640 shares of the company’s stock, valued at approximately $154,566,000. McCormick & Company, Incorporated comprises about 0.1% of XXEC Inc.’s investment portfolio, making the stock its 20th largest holding.
Several other large investors have also modified their holdings of MKC. Aristotle Capital Management LLC grew its stake in shares of McCormick & Company, Incorporated by 231.9% during the first quarter. Aristotle Capital Management LLC now owns 12,664,378 shares of the company’s stock valued at $638,795,000 after buying an additional 8,848,235 shares during the last quarter. Invesco Ltd. lifted its stake in shares of McCormick & Company, Incorporated by 66.7% during the 3rd quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock worth $417,006,000 after acquiring an additional 2,494,544 shares during the last quarter. Wellington Management Group LLP boosted its holdings in McCormick & Company, Incorporated by 67.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock valued at $187,183,000 after acquiring an additional 1,124,003 shares during the period. Diamant Asset Management Inc. boosted its holdings in McCormick & Company, Incorporated by 4,848.6% during the 1st quarter. Diamant Asset Management Inc. now owns 1,046,630 shares of the company’s stock valued at $52,792,000 after acquiring an additional 1,025,480 shares during the period. Finally, Engineers Gate Manager LP bought a new position in McCormick & Company, Incorporated in the 4th quarter valued at $64,522,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on MKC shares. Jefferies Financial Group reduced their target price on McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. TD Cowen lowered their target price on shares of McCormick & Company, Incorporated from $64.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, June 26th. UBS Group upped their price target on shares of McCormick & Company, Incorporated from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of McCormick & Company, Incorporated from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average target price of $60.50.
Insider Buying and Selling at McCormick & Company, Incorporated
In other news, major shareholder Lawrence Erik Kurzius sold 205,538 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $52.69, for a total value of $10,829,797.22. Following the completion of the sale, the insider owned 296,992 shares of the company’s stock, valued at approximately $15,648,508.48. This represents a 40.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.60% of the company’s stock.
McCormick & Company, Incorporated Price Performance
Shares of MKC stock opened at $55.42 on Friday. McCormick & Company, Incorporated has a twelve month low of $44.82 and a twelve month high of $72.58. The stock has a market capitalization of $14.90 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 2.82 and a beta of 0.64. The stock has a fifty day simple moving average of $51.56 and a two-hundred day simple moving average of $54.13. The company has a current ratio of 0.78, a quick ratio of 0.39 and a debt-to-equity ratio of 0.48.
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last announced its quarterly earnings results on Thursday, June 25th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.69 by $0.11. McCormick & Company, Incorporated had a return on equity of 12.78% and a net margin of 21.91%.The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $0.69 earnings per share. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, analysts predict that McCormick & Company, Incorporated will post 3.08 EPS for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were issued a $0.48 dividend. The ex-dividend date was Monday, July 6th. This represents a $1.92 annualized dividend and a dividend yield of 3.5%. McCormick & Company, Incorporated’s payout ratio 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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