National Pension Service Buys New Shares in McCormick & Company, Incorporated $MKC

Key Points

• National Pension Service initiated a position in McCormick, purchasing 34,232 shares valued at approximately $1.73 million. Institutional investors collectively own 79.74% of the company.
• Analysts maintain a generally neutral outlook, with six Buy ratings and seven Hold ratings. The consensus price target is $60.50, compared with shares trading near $51.35.
• McCormick exceeded quarterly expectations, reporting $0.80 in EPS and $1.94 billion in revenue, while revenue increased 16.7% year over year. The company also declared a quarterly dividend of $0.48 per share, equating to a 3.7% annualized yield.

National Pension Service bought a new position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 34,232 shares of the company's stock, valued at approximately $1,726,000.

Other institutional investors have also bought and sold shares of the company. California State Teachers Retirement System lifted its position in shares of McCormick & Company, Incorporated by 4,040.2% in the second quarter. California State Teachers Retirement System now owns 22,290,279 shares of the company's stock valued at $1,123,876,000 after acquiring an additional 21,751,887 shares in the last quarter. State Street Corp grew its position in shares of McCormick & Company, Incorporated by 5.1% during the third quarter. State Street Corp now owns 15,522,816 shares of the company's stock worth $1,038,632,000 after purchasing an additional 747,844 shares in the last quarter. Aristotle Capital Management LLC raised its stake in McCormick & Company, Incorporated by 231.9% during the 1st quarter. Aristotle Capital Management LLC now owns 12,664,378 shares of the company's stock valued at $638,795,000 after purchasing an additional 8,848,235 shares during the period. XXEC Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at approximately $154,566,000. Finally, Geode Capital Management LLC lifted its holdings in McCormick & Company, Incorporated by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 6,508,928 shares of the company's stock worth $441,571,000 after purchasing an additional 59,587 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

MKC has been the subject of several recent analyst reports. UBS Group upped their price target on McCormick & Company, Incorporated from $51.00 to $52.00 and gave the stock a "neutral" rating in a research note 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 on the stock in a research report on Friday, June 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of McCormick & Company, Incorporated from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Jefferies Financial Group dropped their target price on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, June 4th. Finally, Weiss Ratings raised shares of McCormick & Company, Incorporated from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 5th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $60.50.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $52.69, for a total transaction of $10,829,797.22. Following the completion of the transaction, the insider owned 296,992 shares in the company, valued at $15,648,508.48. This trade represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.60% of the stock is owned by company insiders.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $51.35 on Monday. The firm has a market cap of $13.81 billion, a PE ratio of 8.54, a PEG ratio of 2.02 and a beta of 0.64. The stock has a 50 day moving average of $52.84 and a 200 day moving average of $52.45. The company has a current ratio of 0.78, a quick ratio of 0.39 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $72.41.

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, topping analysts' consensus estimates of $0.69 by $0.11. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. McCormick & Company, Incorporated had a return on equity of 12.78% and a net margin of 21.91%.The company's revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, research analysts expect that McCormick & Company, Incorporated will post 3.08 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 6th were paid a dividend of $0.48 per share. 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 is presently 31.95%.

McCormick & Company, Incorporated 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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