Leonteq Securities AG Increases Stake in McCormick & Company, Incorporated $MKC

Key Points

• Leonteq Securities AG dramatically increased its McCormick stake, boosting holdings by 1,678.8% in the first quarter to 252,810 shares worth about $12.75 million.
• McCormick posted stronger-than-expected quarterly results, with EPS of $0.80 versus the $0.69 consensus and revenue of $1.94 billion, up 16.7% year over year.
• The company also announced a quarterly dividend of $0.48 per share, implying an annualized payout of $1.92 and a yield of 3.6%.

Leonteq Securities AG grew its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1,678.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 252,810 shares of the company's stock after acquiring an additional 238,598 shares during the period. Leonteq Securities AG owned 0.09% of McCormick & Company, Incorporated worth $12,752,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MKC. Rafferty Asset Management LLC increased its stake in shares of McCormick & Company, Incorporated by 0.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company's stock worth $1,443,000 after purchasing an additional 157 shares in the last quarter. Ransom Advisory Ltd lifted its position in McCormick & Company, Incorporated by 3.6% during the fourth quarter. Ransom Advisory Ltd now owns 4,625 shares of the company's stock valued at $315,000 after purchasing an additional 160 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company's stock valued at $28,000 after purchasing an additional 164 shares in the last quarter. Glen Eagle Advisors LLC grew its holdings in McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company's stock valued at $39,000 after purchasing an additional 170 shares during the period. Finally, Van ECK Associates Corp grew its holdings in McCormick & Company, Incorporated by 10.5% during the fourth quarter. Van ECK Associates Corp now owns 1,795 shares of the company's stock valued at $122,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Gavin Hattersley acquired 2,000 shares of the business's stock in a transaction dated Friday, April 10th. The stock was purchased at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the transaction, the director directly owned 2,906 shares in the company, valued at approximately $153,959.88. This trade represents a 220.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MKC has been the topic of several recent research reports. TD Cowen decreased 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. Zacks Research raised shares of McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 7th. HSBC lowered their price target on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. Weiss Ratings downgraded shares of McCormick & Company, Incorporated from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, June 12th. Finally, 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 research note on Wednesday, April 1st. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $60.50.

McCormick & Company, Incorporated Trading Up 1.0%

MKC stock opened at $53.45 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.78 and a quick ratio of 0.39. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $76.58. The business has a 50 day simple moving average of $48.32 and a two-hundred day simple moving average of $57.57. The company has a market capitalization of $14.36 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 2.65 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released 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 net margin of 21.91% and a return on equity of 12.78%. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter last year, the business posted $0.69 earnings per share. The company'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. Research analysts anticipate that McCormick & Company, Incorporated will post 3.08 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, July 6th will be paid a $0.48 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.92 annualized dividend and a yield of 3.6%. McCormick & Company, Incorporated's payout ratio is presently 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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