NewEdge Advisors LLC Increases Position in McCormick & Company, Incorporated $MKC

Key Points

• NewEdge Advisors increased its McCormick position by 110.5% in the second quarter, bringing its holdings to 45,868 shares valued at approximately $2.31 million. Institutional investors collectively own 79.74% of MKC.
• Analyst sentiment remains mixed, with five Buy ratings and eight Hold ratings, resulting in a consensus rating of Hold and an average price target of $60.
• McCormick reported quarterly earnings of $0.80 per share, beating estimates by $0.11, while revenue rose 16.7% year over year to $1.94 billion. The company also pays a $0.48 quarterly dividend, representing a 3.9% annualized yield.

NewEdge Advisors LLC lifted its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 110.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,868 shares of the company's stock after buying an additional 24,076 shares during the quarter. NewEdge Advisors LLC's holdings in McCormick & Company, Incorporated were worth $2,313,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MKC. Allworth Financial LP boosted its stake in shares of McCormick & Company, Incorporated by 21.1% in the second quarter. Allworth Financial LP now owns 11,432 shares of the company's stock worth $576,000 after acquiring an additional 1,991 shares during the period. Arizona State Retirement System raised its stake in McCormick & Company, Incorporated by 5.8% during the 2nd quarter. Arizona State Retirement System now owns 72,808 shares of the company's stock valued at $3,671,000 after purchasing an additional 3,987 shares during the period. West Family Investments Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at approximately $390,000. Waverly Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 9.4% in the 2nd quarter. Waverly Advisors LLC now owns 240,383 shares of the company's stock worth $12,120,000 after purchasing an additional 20,563 shares in the last quarter. Finally, Empirical Finance LLC boosted its stake in McCormick & Company, Incorporated by 3.4% in the 2nd quarter. Empirical Finance LLC now owns 8,886 shares of the company's stock worth $448,000 after purchasing an additional 293 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating and reduced their price objective for the company from $60.00 to $55.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their target price on shares of McCormick & Company, Incorporated from $59.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Jefferies Financial Group cut 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 note on Thursday, June 4th. Barclays reduced 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 report on Friday, June 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, June 12th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of "Hold" and a consensus target price of $60.00.

Insider Activity at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of McCormick & Company, Incorporated stock in a transaction dated 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 completion of the transaction, the insider owned 296,992 shares in the company, valued at approximately $15,648,508.48. This trade represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 10.60% of the company's stock.

McCormick & Company, Incorporated Stock Down 0.7%

NYSE MKC opened at $49.73 on Friday. The stock has a 50 day moving average price of $52.69 and a 200-day moving average price of $51.89. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $72.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.78. The company has a market capitalization of $13.37 billion, a P/E ratio of 8.27, a P/E/G ratio of 1.97 and a beta of 0.64.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Thursday, June 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter in the previous year, the business posted $0.69 earnings per share. McCormick & Company, Incorporated's quarterly revenue was up 16.7% on a year-over-year basis. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, July 6th. McCormick & Company, Incorporated's dividend payout ratio 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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