McCormick & Company, Incorporated (NYSE:MKC) Major Shareholder Sells 205,538 Shares

McCormick & Company, Incorporated (NYSE:MKC) major shareholder Lawrence Erik Kurzius sold 205,538 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $52.69, for a total value of $10,829,797.22. Following the transaction, the insider owned 296,992 shares in the company, valued at $15,648,508.48. This represents a 40.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock traded down $0.14 during trading hours on Wednesday, hitting $52.74. 250,652 shares of the company were exchanged, compared to its average volume of 4,151,554. The company has a current ratio of 0.78, a quick ratio of 0.39 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average of $50.48 and a 200-day moving average of $54.46. McCormick & Company, Incorporated has a 1 year low of $44.82 and a 1 year high of $72.58. The stock has a market capitalization of $14.18 billion, a price-to-earnings ratio of 8.79, a P/E/G ratio of 2.66 and a beta of 0.64.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, June 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.11. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. McCormick & Company, Incorporated had a return on equity of 12.78% and a net margin of 21.91%.McCormick & Company, Incorporated’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. As a group, analysts expect that McCormick & Company, Incorporated will post 3.09 EPS 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. Investors of record on Monday, July 6th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.92 annualized dividend and a yield of 3.6%. McCormick & Company, Incorporated’s payout ratio is currently 31.95%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Aristotle Capital Management LLC boosted its holdings in McCormick & Company, Incorporated by 231.9% in the first quarter. Aristotle Capital Management LLC now owns 12,664,378 shares of the company’s stock valued at $638,795,000 after acquiring an additional 8,848,235 shares during the last quarter. Invesco Ltd. raised its holdings in shares of McCormick & Company, Incorporated by 66.7% in the 3rd quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock worth $417,006,000 after purchasing an additional 2,494,544 shares during the period. Wellington Management Group LLP lifted its stake in shares of McCormick & Company, Incorporated by 67.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock valued at $187,183,000 after purchasing an additional 1,124,003 shares in the last quarter. Diamant Asset Management Inc. lifted its stake in shares of McCormick & Company, Incorporated by 4,848.6% in the 1st quarter. Diamant Asset Management Inc. now owns 1,046,630 shares of the company’s stock valued at $52,792,000 after purchasing an additional 1,025,480 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth approximately $64,522,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MKC has been the subject of a number of analyst reports. Sanford C. Bernstein cut their price target on McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, June 26th. 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 research report on Friday, June 26th. BTIG Research started coverage on shares of McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. lowered their price target on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Finally, TD Cowen cut their price objective on shares of McCormick & Company, Incorporated from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.50.

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.