AXQ Capital LP Reduces Position in McCormick & Company, Incorporated $MKC

AXQ Capital LP trimmed its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 80.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,570 shares of the company's stock after selling 30,377 shares during the period. AXQ Capital LP's holdings in McCormick & Company, Incorporated were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in McCormick & Company, Incorporated by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company's stock valued at $2,854,000 after acquiring an additional 925 shares during the last quarter. Empowered Funds LLC raised its position in McCormick & Company, Incorporated by 19.0% in the first quarter. Empowered Funds LLC now owns 5,903 shares of the company's stock valued at $486,000 after purchasing an additional 941 shares during the period. Woodline Partners LP raised its holdings in McCormick & Company, Incorporated by 40.9% in the 1st quarter. Woodline Partners LP now owns 21,334 shares of the company's stock valued at $1,756,000 after buying an additional 6,189 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in McCormick & Company, Incorporated in the second quarter valued at about $6,520,000. Finally, Daiwa Securities Group Inc. lifted its position in McCormick & Company, Incorporated by 6.1% in the second quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company's stock valued at $2,873,000 after buying an additional 2,176 shares during the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Stock Down 0.3%

Shares of NYSE MKC opened at $51.94 on Wednesday. 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 stock has a market cap of $13.96 billion, a P/E ratio of 8.64, a PEG ratio of 2.05 and a beta of 0.64. The business's fifty day simple moving average is $52.95 and its 200-day simple moving average is $52.82. McCormick & Company, Incorporated has a 12-month low of $44.82 and a 12-month high of $72.41.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 12.78% and a net margin of 21.91%.The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter last year, the business posted $0.69 EPS. The business's quarterly revenue 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. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.08 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, July 6th. McCormick & Company, Incorporated's dividend payout ratio is 31.95%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of McCormick & Company, Incorporated stock in a transaction dated 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 sale, the insider directly owned 296,992 shares of the company's stock, valued at $15,648,508.48. The trade was a 40.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on MKC shares. Jefferies Financial Group lowered their target price on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of McCormick & Company, Incorporated from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Sanford C. Bernstein lowered 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 research report on Friday, June 26th. 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. Finally, UBS Group boosted their price objective on McCormick & Company, Incorporated from $51.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $60.50.

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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