Rockland Trust Co. Acquires 23,380 Shares of McCormick & Company, Incorporated $MKC

Rockland Trust Co. grew its stake in McCormick & Company, Incorporated (NYSE:MKC) by 9.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,026 shares of the company’s stock after acquiring an additional 23,380 shares during the period. Rockland Trust Co.’s holdings in McCormick & Company, Incorporated were worth $18,603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MKC. Bank of Jackson Hole Trust acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $25,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $27,000. Heartwood Wealth Advisors LLC bought a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth approximately $28,000. Curio Wealth LLC increased its holdings in shares of McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after acquiring an additional 399 shares during the last quarter. Finally, MTM Investment Management LLC bought a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at $30,000. 79.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on MKC shares. Barclays cut their target price on shares of McCormick & Company, Incorporated from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, January 26th. Jefferies Financial Group raised their price objective on shares of McCormick & Company, Incorporated from $78.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Monday, December 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Finally, UBS Group reduced their price target on McCormick & Company, Incorporated from $70.00 to $67.00 and set a “neutral” rating for the company in a research note on Friday, January 23rd. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.30.

McCormick & Company, Incorporated Trading Up 0.7%

Shares of MKC stock opened at $67.88 on Tuesday. McCormick & Company, Incorporated has a fifty-two week low of $59.62 and a fifty-two week high of $86.24. The stock’s fifty day moving average price is $66.07 and its two-hundred day moving average price is $67.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.28 and a current ratio of 0.70. The company has a market cap of $18.22 billion, a PE ratio of 23.17, a P/E/G ratio of 4.31 and a beta of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 22nd. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.84 billion. McCormick & Company, Incorporated had a return on equity of 14.27% and a net margin of 11.54%.The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.80 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, December 29th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 2.8%. McCormick & Company, Incorporated’s payout ratio is 65.53%.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $67.09, for a total value of $335,450.00. Following the completion of the sale, the director directly owned 31,596 shares in the company, valued at $2,119,775.64. This represents a 13.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the sale, the chief executive officer owned 108,652 shares in the company, valued at $7,123,225.12. This trade represents a 34.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 117,144 shares of company stock valued at $7,772,561. Insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated Profile

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.