McCormick & Company, Incorporated $MKC Shares Newly Acquired by Beaumont Financial Advisors LLC

Key Points

• Beaumont Financial Advisors acquired 67,261 McCormick shares during the third quarter, valued at approximately $3.12 million. Institutional investors collectively own 79.74% of MKC.
• Analysts largely remain cautious: McCormick has a consensus “Hold” rating and an average price target of $55.30, while several firms recently lowered their targets.
• McCormick exceeded quarterly expectations with $0.86 EPS and $2.02 billion in revenue, up 17.4% year over year. The company also declared a $0.48 quarterly dividend, representing a 4.0% annualized yield.

Beaumont Financial Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 67,261 shares of the company's stock, valued at approximately $3,121,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MKC. CFS Investment Advisory Services LLC boosted its holdings in McCormick & Company, Incorporated by 2.8% in the third quarter. CFS Investment Advisory Services LLC now owns 8,130 shares of the company's stock valued at $369,000 after acquiring an additional 224 shares during the last quarter. Dorato Capital Management raised its stake in shares of McCormick & Company, Incorporated by 5.4% in the third quarter. Dorato Capital Management now owns 4,588 shares of the company's stock worth $208,000 after purchasing an additional 235 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 16.4% in the 3rd quarter. CoreCap Advisors LLC now owns 1,738 shares of the company's stock worth $81,000 after acquiring an additional 245 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 3.6% in the second quarter. QRG Capital Management Inc. now owns 8,302 shares of the company's stock valued at $419,000 after acquiring an additional 292 shares in the last quarter. Finally, Empirical Finance LLC increased its position in shares of McCormick & Company, Incorporated by 3.4% during the second quarter. Empirical Finance LLC now owns 8,886 shares of the company's stock valued at $448,000 after acquiring an additional 293 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MKC has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of McCormick & Company, Incorporated from $63.00 to $62.00 and set an "overweight" rating for the company in a research note on Friday, September 18th. Stifel Nicolaus dropped their target price on McCormick & Company, Incorporated from $55.00 to $48.00 and set a "hold" rating on the stock in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft cut their target price on McCormick & Company, Incorporated from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, September 21st. UBS Group cut their price objective on shares of McCormick & Company, Incorporated from $52.00 to $48.00 and set a "neutral" rating for the company in a research report on Friday, October 2nd. Finally, Barclays lowered their target price on shares of McCormick & Company, Incorporated from $55.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $55.30.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $52.69, for a total value of $10,829,797.22. Following the sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 10.60% of the company's stock.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $48.10 on Friday. The firm has a market cap of $12.94 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 2.06 and a beta of 0.65. The company's fifty day simple moving average is $49.83 and its two-hundred day simple moving average is $50.05. The company has a quick ratio of 0.33, a current ratio of 0.66 and a debt-to-equity ratio of 0.38. McCormick & Company, Incorporated has a 12-month low of $43.25 and a 12-month high of $72.41.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings results on Thursday, October 1st. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.10. McCormick & Company, Incorporated had a return on equity of 12.01% and a net margin of 19.39%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the company posted $0.85 EPS. McCormick & Company, Incorporated's quarterly revenue was up 17.4% 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 expect that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $1.92 annualized dividend and a yield of 4.0%. McCormick & Company, Incorporated's payout ratio is currently 34.72%.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated is a global manufacturer and marketer of spices, seasonings, condiments, sauces, and other flavor products. The company serves consumers through grocery, e-commerce, and foodservice channels, while also supplying flavor solutions to food manufacturers and other commercial customers.

Its consumer portfolio includes McCormick spices and seasonings, as well as brands such as French's, Frank's RedHot, Lawry's, OLD BAY, and Gourmet Garden. Its products are used in home cooking, restaurants, and packaged foods across a range of cuisines and meal occasions.

Founded by Willoughby M.

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