Engineers Gate Manager LP Sells 90,068 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Engineers Gate Manager LP cut its McCormick stake by 82.5% in the second quarter, selling 90,068 shares and retaining 19,113 shares worth approximately $964,000. Institutional investors collectively own 79.74% of MKC.
• Analyst sentiment remains cautious, with five Buy ratings and eight Hold ratings producing a consensus rating of Hold and an average price target of $59.90.
• McCormick reported quarterly EPS of $0.80, exceeding estimates of $0.69, while revenue rose 16.7% year over year to $1.94 billion. The company also maintains a quarterly dividend of $0.48 per share, equivalent to a 3.9% yield.

Engineers Gate Manager LP trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 82.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,113 shares of the company's stock after selling 90,068 shares during the quarter. Engineers Gate Manager LP's holdings in McCormick & Company, Incorporated were worth $964,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators grew its stake in McCormick & Company, Incorporated by 67.8% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company's stock worth $28,000 after buying an additional 164 shares in the last quarter. Glen Eagle Advisors LLC boosted its holdings in shares of McCormick & Company, Incorporated by 42.5% in the 4th quarter. Glen Eagle Advisors LLC now owns 570 shares of the company's stock worth $39,000 after purchasing an additional 170 shares in the last quarter. Mathes Company Inc. increased its position in shares of McCormick & Company, Incorporated by 0.7% during the 4th quarter. Mathes Company Inc. now owns 26,911 shares of the company's stock valued at $1,833,000 after purchasing an additional 200 shares during the last quarter. New Mexico Educational Retirement Board increased its position in shares of McCormick & Company, Incorporated by 1.7% during the 4th quarter. New Mexico Educational Retirement Board now owns 11,632 shares of the company's stock valued at $792,000 after purchasing an additional 200 shares during the last quarter. Finally, Minot DeBlois Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 1.8% during the 4th quarter. Minot DeBlois Advisors LLC now owns 12,921 shares of the company's stock valued at $880,000 after buying an additional 231 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Lawrence Kurzius sold 205,538 shares of the business's stock in a transaction 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 sale, the insider owned 296,992 shares in the company, valued at approximately $15,648,508.48. The trade was a 40.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on MKC. Weiss Ratings upgraded shares of McCormick & Company, Incorporated from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft boosted 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. Jefferies Financial Group cut their price objective 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. UBS Group increased their target price 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. Finally, Barclays decreased their target price on shares of McCormick & Company, Incorporated from $57.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Friday, June 26th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, McCormick & Company, Incorporated has an average rating of "Hold" and a consensus price target of $59.90.

McCormick & Company, Incorporated Trading Down 1.8%

Shares of MKC opened at $48.79 on Friday. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $72.41. 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 firm's 50-day moving average price is $52.62 and its 200-day moving average price is $51.87. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 1.92 and a beta of 0.64.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Thursday, June 25th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.69 by $0.11. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.91 billion. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. McCormick & Company, Incorporated's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Sell-side analysts anticipate 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 was paid on Monday, July 20th. Investors of record on Monday, July 6th were given a dividend of $0.48 per share. The ex-dividend date was Monday, July 6th. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. McCormick & Company, Incorporated's payout ratio is currently 31.95%.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated NYSE: MKC is a global food company that manufactures, markets and distributes spices, herbs, seasonings, condiments, sauces and other flavoring products. Its portfolio serves both retail consumers and foodservice customers, while its flavor solutions business supplies seasoning blends, natural flavors and other ingredients to food manufacturers and restaurant operators.

The company's consumer brands include McCormick, French's, Frank's RedHot, Lawry's, Old Bay and Gourmet Garden, among others.

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