Assenagon Asset Management S.A. Purchases 41,257 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Assenagon Asset Management increased its stake in McCormick by 381.9% in the first quarter, buying 41,257 additional shares and bringing its total holding to 52,059 shares worth about $2.63 million.
• McCormick recently reported better-than-expected quarterly results, with EPS of $0.80 versus $0.69 expected and revenue of $1.94 billion, up 16.7% year over year.
• The company also declared a quarterly dividend of $0.48 per share, implying an annualized yield of 3.8%, while analysts currently rate the stock a consensus Hold with an average price target of $60.50.

Assenagon Asset Management S.A. raised its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 381.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,059 shares of the company's stock after acquiring an additional 41,257 shares during the quarter. Assenagon Asset Management S.A.'s holdings in McCormick & Company, Incorporated were worth $2,626,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Cidel Asset Management Inc. grew its stake in McCormick & Company, Incorporated by 41.6% in the 1st quarter. Cidel Asset Management Inc. now owns 41,138 shares of the company's stock valued at $2,075,000 after buying an additional 12,085 shares during the last quarter. Krilogy Financial LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at approximately $204,000. Sovereign Financial Group Inc. grew its holdings in McCormick & Company, Incorporated by 12.1% in the 1st quarter. Sovereign Financial Group Inc. now owns 5,189 shares of the company's stock valued at $262,000 after buying an additional 562 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its position in McCormick & Company, Incorporated by 15.4% during the first quarter. Cornell Pochily Investment Advisors Inc. now owns 5,011 shares of the company's stock worth $253,000 after acquiring an additional 668 shares during the period. Finally, SG Americas Securities LLC increased its position in McCormick & Company, Incorporated by 58.3% during the first quarter. SG Americas Securities LLC now owns 275,583 shares of the company's stock worth $13,900,000 after acquiring an additional 101,467 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock opened at $50.39 on Wednesday. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $78.03. 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 company has a market capitalization of $13.54 billion, a PE ratio of 8.38, a P/E/G ratio of 2.60 and a beta of 0.65. The stock has a 50-day moving average price of $48.29 and a two-hundred day moving average price of $57.76.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced 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. 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 during the quarter, compared to analysts' expectations of $1.91 billion. During the same period in the prior year, the company posted $0.69 EPS. The company's revenue 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. Analysts expect that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced 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. This represents a $1.92 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, July 6th. McCormick & Company, Incorporated's dividend payout ratio is currently 31.95%.

Analyst Ratings Changes

A number of analysts have issued reports on MKC shares. Sanford C. Bernstein cut their price objective on shares of McCormick & Company, Incorporated from $77.00 to $68.00 and set an "outperform" rating for the company in a report on Friday, June 26th. BNP Paribas Exane lowered their target price on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. TD Cowen dropped their price target 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. JPMorgan Chase & Co. reduced their target price on McCormick & Company, Incorporated from $64.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. Finally, Weiss Ratings cut McCormick & Company, Incorporated from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, June 12th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $60.50.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Gavin Hattersley purchased 2,000 shares of the firm's stock in a transaction on Friday, April 10th. The stock was purchased at an average cost of $52.98 per share, for a total transaction of $105,960.00. Following the acquisition, the director owned 2,906 shares in the company, valued at approximately $153,959.88. The trade was a 220.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.60% of the company's stock.

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.

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