Public Employees Retirement System of Ohio Makes New $3.66 Million Investment in McCormick & Company, Incorporated $MKC

Public Employees Retirement System of Ohio purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 72,569 shares of the company’s stock, valued at approximately $3,659,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Deseret Mutual Benefit Administrators boosted its position in shares of McCormick & Company, Incorporated by 67.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after acquiring an additional 164 shares during the last quarter. Glen Eagle Advisors LLC increased its position in McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock worth $39,000 after purchasing an additional 170 shares during the last quarter. Van ECK Associates Corp increased its position in McCormick & Company, Incorporated by 10.5% during the fourth quarter. Van ECK Associates Corp now owns 1,795 shares of the company’s stock worth $122,000 after purchasing an additional 171 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in 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 purchasing an additional 176 shares during the period. Finally, Modern Wealth Management LLC raised its stake in 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 purchasing an additional 181 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MKC. Barclays decreased their price target on shares of McCormick & Company, Incorporated from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft upped their price objective on McCormick & Company, Incorporated from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, June 26th. TD Cowen reduced their target price on McCormick & Company, Incorporated from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Sanford C. Bernstein lowered their price target on McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.50.

Insiders Place Their Bets

In other news, major shareholder Lawrence Kurzius sold 205,538 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $52.69, for a total transaction of $10,829,797.22. Following the completion of the sale, the insider directly owned 296,992 shares in the company, valued at $15,648,508.48. This trade represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.60% of the stock is currently owned by insiders.

McCormick & Company, Incorporated Stock Down 2.1%

Shares of NYSE:MKC opened at $52.65 on Friday. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.64. The company has a 50 day moving average of $52.90 and a two-hundred day moving average of $53.20. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $72.41. The company has a quick ratio of 0.39, a current ratio of 0.78 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last announced 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 the consensus estimate of $1.91 billion. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. As a group, analysts forecast that McCormick & Company, Incorporated will post 3.08 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, July 6th. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.95%.

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.