AMI Asset Management Corp Sells 23,010 Shares of McCormick & Company, Incorporated $MKC

Key Points

• AMI Asset Management Corp reduced its McCormick stake by 7.0% in the first quarter, selling 23,010 shares and ending with 306,237 shares valued at about $15.4 million.
• Analysts are mixed on McCormick & Company (NYSE: MKC): the stock has a consensus rating of Hold and an average price target of $60.50, even as several firms trimmed targets and one downgraded the shares to sell.
• McCormick reported better-than-expected quarterly results, with EPS of $0.80 vs. $0.69 expected and revenue of $1.94 billion, while also declaring a quarterly dividend of $0.48 per share, yielding 3.7% annually.

AMI Asset Management Corp decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 306,237 shares of the company's stock after selling 23,010 shares during the period. AMI Asset Management Corp owned 0.11% of McCormick & Company, Incorporated worth $15,447,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MKC. Goldman Sachs Group Inc. boosted its position in shares of McCormick & Company, Incorporated by 60.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,659,766 shares of the company's stock worth $113,047,000 after purchasing an additional 628,390 shares in the last quarter. PGGM Investments increased its position in shares of McCormick & Company, Incorporated by 10.2% in the 4th quarter. PGGM Investments now owns 746,607 shares of the company's stock valued at $50,851,000 after buying an additional 69,034 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of McCormick & Company, Incorporated by 76.9% in the 3rd quarter. WINTON GROUP Ltd now owns 37,500 shares of the company's stock valued at $2,509,000 after buying an additional 16,300 shares in the last quarter. Vanguard Group Inc. raised its stake in McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 32,679,906 shares of the company's stock worth $2,225,828,000 after buying an additional 314,252 shares during the period. Finally, American Century Companies Inc. acquired a new stake in McCormick & Company, Incorporated during the 3rd quarter worth $48,576,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MKC. Stifel Nicolaus decreased their target price on McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating for the company in a research note on Wednesday, April 1st. Weiss Ratings lowered McCormick & Company, Incorporated from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, June 12th. Sanford C. Bernstein cut their price objective on McCormick & Company, Incorporated from $77.00 to $68.00 and set an "outperform" rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on McCormick & Company, Incorporated from $59.00 to $60.00 and gave the company a "buy" rating in a research report on Friday. Finally, TD Cowen lowered their target price on McCormick & Company, Incorporated from $64.00 to $60.00 and set a "buy" rating for the company in a research note on Friday. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $60.50.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $52.22 on Tuesday. The firm has a market cap of $14.03 billion, a PE ratio of 8.69, a PEG ratio of 2.52 and a beta of 0.65. 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 $78.03. The company has a fifty day moving average price of $48.37 and a 200 day moving average price of $57.86.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released 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. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. McCormick & Company, Incorporated had a return on equity of 12.78% and a net margin of 21.91%.The company's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Research analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, July 6th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.92 annualized dividend and a dividend yield of 3.7%. McCormick & Company, Incorporated's payout ratio is 31.95%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Gavin Hattersley acquired 2,000 shares of the company's stock in a transaction dated Friday, April 10th. The shares were bought at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the purchase, the director directly owned 2,906 shares in the company, valued at approximately $153,959.88. This trade represents a 220.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.60% of the stock is owned by company insiders.

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.

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