XXEC Inc. Acquires New Shares in McCormick & Company, Incorporated $MKC

XXEC Inc. acquired a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 24,927 shares of the company’s stock, valued at approximately $1,196,000. McCormick & Company, Incorporated accounts for 0.0% of XXEC Inc.’s holdings, making the stock its 26th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MKC. Parvin Asset Management LLC bought a new stake in shares of McCormick & Company, Incorporated in the second quarter worth about $25,000. Deseret Mutual Benefit Administrators raised its position in shares of McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after purchasing an additional 164 shares during the period. Motiv8 Investments LLC acquired a new stake in shares of McCormick & Company, Incorporated during the fourth quarter worth about $28,000. Byrne Asset Management LLC bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $30,000. Finally, Zions Bancorporation National Association UT grew its position in shares of McCormick & Company, Incorporated by 340.0% in the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after purchasing an additional 357 shares during the period. 79.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on MKC. Sanford C. Bernstein lowered their target price on McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, June 26th. JPMorgan Chase & Co. cut their price target on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. UBS Group upped their price target on shares of McCormick & Company, Incorporated from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Barclays lowered their price objective on shares of 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. Finally, Weiss Ratings upgraded shares of McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.50.

Insider Transactions at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 205,538 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 296,992 shares of the company’s stock, valued at approximately $15,648,508.48. This represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Stock Down 1.0%

Shares of MKC stock opened at $54.53 on Friday. 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 1 year low of $44.82 and a 1 year high of $72.41. The firm’s fifty day moving average price is $52.20 and its two-hundred day moving average price is $53.77. The firm has a market capitalization of $14.66 billion, a P/E ratio of 9.07, a PEG ratio of 2.80 and a beta of 0.64.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Thursday, June 25th. The company reported $0.80 EPS for the quarter, topping 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 firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the firm posted $0.69 EPS. The company’s revenue for the quarter 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. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.08 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced 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. This represents a $1.92 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, July 6th. McCormick & Company, Incorporated’s dividend payout ratio is presently 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.