McCormick & Company, Incorporated $MKC Stock Position Boosted by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its McCormick stake by 4,040.2% in the second quarter, acquiring 21.75 million additional shares and bringing its ownership to approximately 8.29%, valued at $1.12 billion.
• McCormick reported quarterly EPS of $0.80, exceeding the $0.69 consensus estimate, while revenue rose 16.7% year over year to $1.94 billion. The company issued full-year EPS guidance of $3.05–$3.13.
• The stock opened at $51.35 and pays an annualized dividend of $1.92, yielding about 3.7%. Analysts maintain a consensus “Hold” rating with an average price target of $60.50.

California State Teachers Retirement System raised its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4,040.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,290,279 shares of the company's stock after buying an additional 21,751,887 shares during the period. California State Teachers Retirement System owned approximately 8.29% of McCormick & Company, Incorporated worth $1,123,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in McCormick & Company, Incorporated by 60.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,659,766 shares of the company's stock valued at $113,047,000 after purchasing an additional 628,390 shares in the last quarter. PGGM Investments increased its position in shares of McCormick & Company, Incorporated by 10.2% during the 4th quarter. PGGM Investments now owns 746,607 shares of the company's stock valued at $50,851,000 after purchasing an additional 69,034 shares during the period. Hsbc Holdings PLC raised its stake in shares of McCormick & Company, Incorporated by 10.4% in the 4th quarter. Hsbc Holdings PLC now owns 500,292 shares of the company's stock worth $34,086,000 after buying an additional 47,119 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of McCormick & Company, Incorporated in the 4th quarter worth $4,883,000. Finally, L & S Advisors Inc acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at $4,004,000. 79.74% of the stock is currently owned by institutional investors.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of the business's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $52.69, for a total transaction of $10,829,797.22. Following the sale, the insider owned 296,992 shares in the company, valued at approximately $15,648,508.48. The trade was a 40.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.60% of the company's stock.

McCormick & Company, Incorporated Stock Performance

MKC opened at $51.35 on Friday. The firm has a market cap of $13.81 billion, a PE ratio of 8.54, a P/E/G ratio of 2.02 and a beta of 0.64. 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 business has a fifty day simple moving average of $52.84 and a 200-day simple moving average of $52.57. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $72.41.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, June 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. McCormick & Company, Incorporated'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. As a group, equities analysts predict 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 was paid on Monday, July 20th. Investors of record on Monday, July 6th were paid a $0.48 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.92 dividend on an annualized basis and a yield of 3.7%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 31.95%.

Wall Street Analysts Forecast Growth

MKC has been the subject of several research reports. UBS Group raised their target price on McCormick & Company, Incorporated from $51.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Barclays dropped their price target 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, June 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of McCormick & Company, Incorporated from $59.00 to $60.00 and gave the company a "buy" rating in a report on Friday, June 26th. JPMorgan Chase & Co. reduced their price objective on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, June 12th. Finally, Sanford C. Bernstein lowered their price objective on shares of McCormick & Company, Incorporated from $77.00 to $68.00 and set an "outperform" rating on the stock in a research note on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $60.50.

McCormick & Company, Incorporated Company Profile

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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