Assenagon Asset Management S.A. Has $423,000 Stock Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Assenagon Asset Management cut its McCormick stake by 83.9% in the second quarter, selling 43,662 shares and retaining 8,397 shares valued at approximately $423,000. Institutional investors and hedge funds collectively own 79.74% of MKC.
• McCormick reported quarterly revenue of $1.94 billion and earnings of $0.80 per share, exceeding analyst estimates, while revenue increased 16.7% year over year. The company also maintains a quarterly dividend of $0.48 per share, representing a 3.5% annualized yield.
• Analyst sentiment remains mixed, with six Buy ratings and seven Hold ratings producing an overall “Hold” consensus and an average price target of $60.50. Major shareholder Lawrence Erik Kurzius also sold 205,538 shares for approximately $10.8 million.

Assenagon Asset Management S.A. trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 83.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,397 shares of the company's stock after selling 43,662 shares during the quarter. Assenagon Asset Management S.A.'s holdings in McCormick & Company, Incorporated were worth $423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Byrne Asset Management LLC bought a new position in shares of McCormick & Company, Incorporated during the second quarter valued at $30,000. Canandaigua National Bank & Trust Co. acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth about $291,000. OLD Republic International Corp lifted its holdings in McCormick & Company, Incorporated by 116.2% during the 2nd quarter. OLD Republic International Corp now owns 632,400 shares of the company's stock worth $31,924,000 after buying an additional 339,900 shares during the period. CX Institutional grew its position in shares of McCormick & Company, Incorporated by 630.1% in the 2nd quarter. CX Institutional now owns 2,891 shares of the company's stock valued at $146,000 after buying an additional 2,495 shares during the last quarter. Finally, Western Wealth Management LLC bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $879,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Down 0.0%

Shares of NYSE:MKC opened at $54.65 on Monday. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 2.74 and a beta of 0.63. 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 business's 50-day moving average is $50.91 and its 200-day moving average is $54.31. McCormick & Company, Incorporated has a 1 year low of $44.82 and a 1 year high of $72.58.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, July 6th. McCormick & Company, Incorporated's dividend payout ratio is presently 31.95%.

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 205,538 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $52.69, for a total transaction of $10,829,797.22. Following the completion of the sale, the insider owned 296,992 shares of the company's stock, valued at $15,648,508.48. This trade represents a 40.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 10.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on McCormick & Company, Incorporated from $51.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. TD Cowen cut their price objective on McCormick & Company, Incorporated from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Barclays reduced their target price on McCormick & Company, Incorporated from $57.00 to $55.00 and set an "equal weight" rating on the stock in a report on Friday, June 26th. Weiss Ratings raised shares of McCormick & Company, Incorporated from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group lowered their price target on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, June 4th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $60.50.

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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