The Manufacturers Life Insurance Company Reduces Position in McCormick & Company, Incorporated $MKC

The Manufacturers Life Insurance Company trimmed its position in McCormick & Company, Incorporated (NYSE:MKC) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,599 shares of the company’s stock after selling 15,403 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in McCormick & Company, Incorporated were worth $6,688,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators boosted its position in McCormick & Company, Incorporated by 67.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after buying an additional 164 shares during the period. Motiv8 Investments LLC purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $28,000. Zions Bancorporation National Association UT increased its position in shares of McCormick & Company, Incorporated by 340.0% in the fourth quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after acquiring an additional 357 shares during the period. Union Savings Bank purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $36,000. Finally, Glen Eagle Advisors LLC raised its stake in shares of McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock valued at $39,000 after acquiring an additional 170 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of analyst reports. Sanford C. Bernstein dropped their target price on shares of McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, June 26th. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Barclays dropped their price objective on McCormick & Company, Incorporated from $57.00 to $55.00 and set an “equal weight” rating for the company in a report on Friday, June 26th. UBS Group lifted their price objective on McCormick & Company, Incorporated from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, BTIG Research began coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They set a “neutral” rating on the stock. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.50.

McCormick & Company, Incorporated Trading Up 1.1%

NYSE:MKC opened at $52.66 on Thursday. The company has a 50-day moving average price of $50.00 and a 200-day moving average price of $54.86. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 8.76, a P/E/G ratio of 2.61 and a beta of 0.64. The company has a current ratio of 0.78, a quick ratio of 0.39 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $72.58.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.11. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. McCormick & Company, Incorporated’s quarterly revenue was up 16.7% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Equities analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

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

About McCormick & Company, Incorporated

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.