McCormick & Company, Incorporated $MKC Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 2.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 253,124 shares of the company’s stock after selling 7,490 shares during the period. McCormick & Company, Incorporated comprises about 1.3% of Hemenway Trust Co LLC’s holdings, making the stock its 29th biggest holding. Hemenway Trust Co LLC owned 0.09% of McCormick & Company, Incorporated worth $16,936,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Nuance Investments LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth $15,388,000. Envestnet Asset Management Inc. grew its stake in McCormick & Company, Incorporated by 3.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 878,886 shares of the company’s stock worth $58,806,000 after purchasing an additional 29,418 shares in the last quarter. Cibc World Market Inc. purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter worth about $3,819,000. Strengthening Families & Communities LLC raised its position in McCormick & Company, Incorporated by 3,178.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 33,048 shares of the company’s stock valued at $2,211,000 after purchasing an additional 32,040 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. boosted its stake in shares of McCormick & Company, Incorporated by 90.0% in the 3rd quarter. Savoir Faire Capital Management L.P. now owns 118,313 shares of the company’s stock valued at $7,916,000 after buying an additional 56,049 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays cut their target price on shares of McCormick & Company, Incorporated from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Monday, January 26th. Stifel Nicolaus reduced their price objective on shares of McCormick & Company, Incorporated from $71.00 to $65.00 and set a “hold” rating on the stock in a report on Friday, January 23rd. HSBC decreased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Friday, January 23rd. JPMorgan Chase & Co. dropped their target price on McCormick & Company, Incorporated from $79.00 to $72.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $87.00 price target on shares of McCormick & Company, Incorporated in a research note on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, McCormick & Company, Incorporated presently has an average rating of “Hold” and a consensus target price of $73.30.

McCormick & Company, Incorporated Stock Down 2.1%

McCormick & Company, Incorporated stock opened at $68.55 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $59.62 and a fifty-two week high of $86.24. 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 capitalization of $18.40 billion, a P/E ratio of 23.40, a PEG ratio of 4.47 and a beta of 0.61. The stock has a 50-day simple moving average of $67.03 and a 200-day simple moving average of $67.15.

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

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $67.43, for a total value of $3,371,500.00. Following the completion of the sale, the insider directly owned 246,762 shares of the company’s stock, valued at approximately $16,639,161.66. This represents a 16.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $67.09, for a total value of $335,450.00. Following the transaction, the director directly owned 31,596 shares in the company, valued at approximately $2,119,775.64. This represents a 13.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 115,000 shares of company stock valued at $7,947,300 in the last ninety days. 23.80% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Company 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.