McCormick & Company, Incorporated $MKC Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 4.9% in the third quarter, HoldingsChannel.com reports. The firm owned 3,129,834 shares of the company’s stock after selling 162,850 shares during the quarter. Franklin Resources Inc.’s holdings in McCormick & Company, Incorporated were worth $209,417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new position in McCormick & Company, Incorporated during the second quarter worth about $27,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at approximately $28,000. MTM Investment Management LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at approximately $30,000. Anfield Capital Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 161.3% during the 2nd quarter. Anfield Capital Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 242 shares in the last quarter. Finally, SouthState Bank Corp boosted its stake in shares of McCormick & Company, Incorporated by 1,777.8% during the 3rd quarter. SouthState Bank Corp now owns 507 shares of the company’s stock worth $34,000 after acquiring an additional 480 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $57.41 on Friday. McCormick & Company, Incorporated has a 1 year low of $57.29 and a 1 year high of $83.15. 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 stock’s 50 day moving average price is $66.42 and its 200 day moving average price is $66.77. The firm has a market cap of $15.41 billion, a P/E ratio of 19.59, a PEG ratio of 3.34 and a beta of 0.59.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, January 22nd. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). The company 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 business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, sell-side analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

MKC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday, December 15th. Jefferies Financial Group boosted their target price on McCormick & Company, Incorporated from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Stifel Nicolaus dropped their price target on McCormick & Company, Incorporated from $71.00 to $65.00 and set a “hold” rating for the company in a research report on Friday, January 23rd. TD Cowen cut their price target on McCormick & Company, Incorporated from $82.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Finally, UBS Group decreased their price objective on shares of McCormick & Company, Incorporated from $70.00 to $67.00 and set a “neutral” rating on the stock in a research report on Friday, January 23rd. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.10.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $67.92, for a total transaction of $339,600.00. Following the completion of the sale, the director owned 43,029 shares in the company, valued at approximately $2,922,529.68. This trade represents a 10.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $71.63, for a total value of $3,581,500.00. Following the sale, the insider owned 296,992 shares of the company’s stock, valued at approximately $21,273,536.96. This represents a 14.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 115,000 shares of company stock valued at $7,947,300 over the last quarter. Insiders own 10.60% of the company’s stock.

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.