McCormick & Company, Incorporated $MKC Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its McCormick stake by 5.9% in the first quarter, selling 62,039 shares and ending with 990,202 shares worth about $49.9 million.
• McCormick’s latest quarterly results topped expectations, with EPS of $0.80 versus $0.69 expected and revenue of $1.94 billion versus $1.91 billion estimated. The company also raised its FY2026 guidance to 3.05–3.13 EPS.
• The company declared a quarterly dividend of $0.48 per share, equal to an annualized yield of 3.7%, while analysts currently rate the stock a consensus Hold with an average price target of $60.50.

Pictet Asset Management Holding SA reduced its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 990,202 shares of the company's stock after selling 62,039 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.37% of McCormick & Company, Incorporated worth $49,946,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of McCormick & Company, Incorporated by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 32,679,906 shares of the company's stock worth $2,225,828,000 after purchasing an additional 314,252 shares in the last quarter. State Street Corp grew its holdings in McCormick & Company, Incorporated by 5.1% during the 3rd quarter. State Street Corp now owns 15,522,816 shares of the company's stock valued at $1,038,632,000 after buying an additional 747,844 shares during the last quarter. Geode Capital Management LLC increased its position in McCormick & Company, Incorporated by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 6,508,928 shares of the company's stock worth $441,571,000 after buying an additional 59,587 shares in the last quarter. Invesco Ltd. raised its holdings in shares of McCormick & Company, Incorporated by 3.1% in the fourth quarter. Invesco Ltd. now owns 6,422,944 shares of the company's stock worth $437,467,000 after acquiring an additional 190,607 shares during the last quarter. Finally, Aristotle Capital Management LLC purchased a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $259,918,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

Wall Street Analyst Weigh In

MKC has been the subject of several analyst reports. Weiss Ratings downgraded shares of McCormick & Company, Incorporated from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, June 12th. Zacks Research raised shares of McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. 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. BNP Paribas Exane lowered their target price on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. decreased 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. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $60.50.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Gavin Hattersley purchased 2,000 shares of the business's stock in a transaction that occurred on Friday, April 10th. The shares were purchased at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the completion of the acquisition, the director owned 2,906 shares of the company's stock, valued at approximately $153,959.88. This represents a 220.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.60% of the company's stock.

McCormick & Company, Incorporated Stock Up 2.3%

Shares of NYSE MKC opened at $52.22 on Tuesday. The stock has a market capitalization of $14.03 billion, a PE ratio of 8.69, a P/E/G ratio of 2.52 and a beta of 0.65. The company has a quick ratio of 0.39, a current ratio of 0.78 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average of $48.37 and a 200-day moving average of $57.86. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $78.03.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results 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 return on equity of 12.78% and a net margin of 21.91%.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 firm earned $0.69 earnings per share. The firm'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. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, July 6th will be issued a dividend of $0.48 per share. The ex-dividend date is Monday, July 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.7%. 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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