235,558 Shares in McCormick & Company, Incorporated $MKC Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter stake in McCormick, buying 235,558 shares valued at about $11.9 million, or roughly 0.09% of the company.
• McCormick’s latest quarterly results beat expectations, with EPS of $0.80 versus the $0.69 estimate and revenue of $1.94 billion topping forecasts. Revenue rose 16.7% year over year.
• The company also announced a quarterly dividend of $0.48 per share, payable July 20, implying an annualized yield of about 3.6%. Analyst sentiment remains cautious, with a consensus rating of Hold and a target price of $60.50.

Y Intercept Hong Kong Ltd acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 235,558 shares of the company's stock, valued at approximately $11,882,000. Y Intercept Hong Kong Ltd owned approximately 0.09% of McCormick & Company, Incorporated as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MKC. Rafferty Asset Management LLC increased its stake in shares of McCormick & Company, Incorporated by 0.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company's stock worth $1,443,000 after purchasing an additional 157 shares during the last quarter. Ransom Advisory Ltd increased its holdings in shares of McCormick & Company, Incorporated by 3.6% during the 4th quarter. Ransom Advisory Ltd now owns 4,625 shares of the company's stock valued at $315,000 after acquiring an additional 160 shares during the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of 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 acquiring an additional 164 shares during the last quarter. Glen Eagle Advisors LLC boosted its position in McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company's stock worth $39,000 after purchasing an additional 170 shares during the period. Finally, Van ECK Associates Corp boosted its position in McCormick & Company, Incorporated by 10.5% during the fourth quarter. Van ECK Associates Corp now owns 1,795 shares of the company's stock worth $122,000 after purchasing an additional 171 shares during the period. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley purchased 2,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were purchased at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the purchase, the director directly owned 2,906 shares of the company's stock, valued at approximately $153,959.88. The trade was a 220.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MKC. Sanford C. Bernstein dropped their target price on shares of McCormick & Company, Incorporated from $77.00 to $68.00 and set an "outperform" rating on the stock in a report on Friday, June 26th. 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. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $64.00 to $63.00 and set an "overweight" rating on the stock in a research report on Friday, June 12th. BTIG Research began coverage on McCormick & Company, Incorporated in a research note on Tuesday, April 14th. They issued a "neutral" rating on the stock. Finally, HSBC cut their price objective on McCormick & Company, Incorporated from $69.00 to $55.00 and set a "hold" rating for the company in a research report on Thursday, March 26th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $60.50.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $53.45 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.78 and a quick ratio of 0.39. The company has a market cap of $14.36 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. The firm has a fifty day moving average price of $48.32 and a two-hundred day moving average price of $57.57. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $76.58.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted 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 company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. The business's revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Analysts expect that McCormick & Company, Incorporated will post 3.08 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, July 6th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, July 6th. McCormick & Company, Incorporated's payout ratio is currently 31.95%.

McCormick & Company, Incorporated 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.

Want to see what other hedge funds are holding MKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McCormick & Company, Incorporated (NYSE:MKC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.