Sumitomo Mitsui Trust Group Inc. cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC – Free Report) by 7.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 618,915 shares of the company’s stock after selling 52,243 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in McCormick & Company, Incorporated were worth $28,718,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Aristotle Capital Management LLC boosted its position in shares of McCormick & Company, Incorporated by 231.9% in the 1st quarter. Aristotle Capital Management LLC now owns 12,664,378 shares of the company’s stock valued at $638,795,000 after purchasing an additional 8,848,235 shares during the period. XXEC Inc. purchased a new position in McCormick & Company, Incorporated in the 2nd quarter worth about $154,566,000. ProShare Advisors LLC increased its stake in McCormick & Company, Incorporated by 2.6% in the 3rd quarter. ProShare Advisors LLC now owns 3,222,289 shares of the company’s stock worth $149,514,000 after purchasing an additional 82,353 shares in the last quarter. Amundi raised its holdings in McCormick & Company, Incorporated by 72.5% during the 1st quarter. Amundi now owns 2,023,544 shares of the company’s stock worth $102,068,000 after buying an additional 850,343 shares during the period. Finally, Vest Financial LLC raised its holdings in McCormick & Company, Incorporated by 0.8% during the 3rd quarter. Vest Financial LLC now owns 941,999 shares of the company’s stock worth $43,709,000 after buying an additional 7,823 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on MKC shares. TD Cowen reaffirmed a “hold” rating and set a $48.00 price objective (down from $55.00) on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. UBS Group cut their price target on shares of McCormick & Company, Incorporated from $52.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Stifel Nicolaus cut their price target on shares of McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, October 2nd. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $55.00 to $47.00 and set an “equal weight” rating for the company in a research report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McCormick & Company, Incorporated from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, September 21st. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.30.
McCormick & Company, Incorporated Stock Performance
Shares of MKC stock opened at $50.11 on Friday. McCormick & Company, Incorporated has a 1-year low of $43.25 and a 1-year high of $72.41. The company has a current ratio of 0.66, a quick ratio of 0.33 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 2.13 and a beta of 0.66. The stock’s fifty day simple moving average is $48.61 and its 200-day simple moving average is $53.17.
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last posted its quarterly earnings results on Thursday, October 1st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, October 13th. McCormick & Company, Incorporated’s payout ratio is 34.72%.
Insider Buying and Selling at McCormick & Company, Incorporated
In other news, major shareholder Lawrence Kurzius sold 205,538 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $52.69, for a total value of $10,829,797.22. Following the transaction, the insider owned 296,992 shares in the company, valued at $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 available at this link. 10.60% of the stock is owned by corporate insiders.
About McCormick & Company, Incorporated
McCormick & Company, Incorporated is a global manufacturer and marketer of spices, seasonings, condiments, sauces, and other flavor products. The company serves consumers through grocery, e-commerce, and foodservice channels, while also supplying flavor solutions to food manufacturers and other commercial customers.
Its consumer portfolio includes McCormick spices and seasonings, as well as brands such as French’s, Frank’s RedHot, Lawry’s, OLD BAY, and Gourmet Garden. Its products are used in home cooking, restaurants, and packaged foods across a range of cuisines and meal occasions.
Founded by Willoughby M.
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