McCormick & Company, Incorporated $MKC Shares Sold by Corient Private Wealth LP

Corient Private Wealth LP decreased its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 12.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 285,333 shares of the company's stock after selling 42,430 shares during the quarter. Corient Private Wealth LP owned approximately 0.11% of McCormick & Company, Incorporated worth $14,386,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MKC. Alan B Lancz & Associates Inc. raised its holdings in McCormick & Company, Incorporated by 17.6% during the second quarter. Alan B Lancz & Associates Inc. now owns 7,000 shares of the company's stock worth $353,000 after purchasing an additional 1,050 shares in the last quarter. Saudi Central Bank boosted its holdings in shares of McCormick & Company, Incorporated by 90.2% in the 2nd quarter. Saudi Central Bank now owns 17,776 shares of the company's stock valued at $896,000 after buying an additional 8,429 shares in the last quarter. NBH Bank purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $59,000. AlphaGrep UK Ltd purchased a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $323,000. Finally, OceanIQ Capital LLC acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter worth $323,000. Institutional investors and hedge funds own 79.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MKC shares. TD Cowen cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating and reduced their price target for the company from $60.00 to $55.00 in a research report on Monday. JPMorgan Chase & Co. dropped their price objective on McCormick & Company, Incorporated from $64.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. UBS Group lifted their target price on McCormick & Company, Incorporated from $51.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Weiss Ratings raised McCormick & Company, Incorporated from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 5th. Finally, Sanford C. Bernstein decreased their target price on 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. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $60.00.

Insider Buying and Selling at McCormick & Company, Incorporated

In related 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 directly owned 296,992 shares in the company, valued at $15,648,508.48. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.60% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Stock Down 1.1%

Shares of NYSE:MKC opened at $49.83 on Wednesday. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 1.98 and a beta of 0.64. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $72.41. The firm's 50-day simple moving average is $52.76 and its 200-day simple moving average is $52.17. The company has a quick ratio of 0.39, a current ratio of 0.78 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Thursday, June 25th. The company reported $0.80 EPS 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 firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The firm's 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 research analysts predict that McCormick & Company, Incorporated will post 3.08 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, July 6th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 31.95%.

About McCormick & Company, Incorporated

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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