Handelsbanken Fonder AB Reduces Stock Holdings in McCormick & Company, Incorporated $MKC

Key Points

• Handelsbanken Fonder AB cut its McCormick position by 56% in the second quarter, selling 100,465 shares and retaining 79,000 shares valued at approximately $3.98 million.
• Institutional investors own 79.74% of McCormick, while major shareholder Lawrence Erik Kurzius sold 205,538 shares worth about $10.83 million, reducing his stake by 40.9%.
• Analysts have a consensus “Hold” rating with an average price target of $60.50; McCormick recently exceeded quarterly earnings expectations and reported 16.7% year-over-year revenue growth.

Handelsbanken Fonder AB reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 56.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,000 shares of the company's stock after selling 100,465 shares during the period. Handelsbanken Fonder AB's holdings in McCormick & Company, Incorporated were worth $3,983,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, major shareholder Lawrence Erik Kurzius sold 205,538 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $52.69, for a total value of $10,829,797.22. Following the transaction, the insider directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on MKC shares. UBS Group upped their price objective on shares of McCormick & Company, Incorporated from $51.00 to $52.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Sanford C. Bernstein cut their target price on McCormick & Company, Incorporated from $77.00 to $68.00 and set an "outperform" rating on the stock in a research report on Friday, June 26th. Jefferies Financial Group cut their target price on McCormick & Company, Incorporated from $64.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, June 4th. TD Cowen decreased their price target 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. Finally, Barclays lowered their price target on McCormick & Company, Incorporated from $57.00 to $55.00 and set an "equal weight" rating for the company in a research 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $60.50.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $54.65 on Friday. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $72.58. The company has a market cap of $14.69 billion, a PE ratio of 9.09, a P/E/G ratio of 2.74 and a beta of 0.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.78. The business has a 50-day simple moving average of $50.91 and a 200-day simple moving average of $54.36.

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 for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the business earned $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. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 6th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, July 6th. McCormick & Company, Incorporated's dividend payout ratio is currently 31.95%.

About McCormick & Company, Incorporated

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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