Nykredit A S Invests $4.62 Million in McCormick & Company, Incorporated $MKC

Key Points

• Nykredit A/S acquired 91,536 McCormick shares during the second quarter, valued at approximately $4.62 million. Institutional investors collectively own 79.74% of the company.
• Major shareholder Lawrence Kurzius sold 205,538 shares for approximately $10.83 million, reducing his ownership by 40.9%.
• McCormick exceeded quarterly earnings and revenue expectations, reporting $0.80 EPS and $1.94 billion in revenue. Analysts maintain a consensus “Hold” rating with an average price target of $60.50, while the company pays a $0.48 quarterly dividend yielding about 3.7%.

Nykredit A S acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,536 shares of the company's stock, valued at approximately $4,615,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parvin Asset Management LLC purchased a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $25,000. Deseret Mutual Benefit Administrators raised its holdings in shares of McCormick & Company, Incorporated by 67.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company's stock worth $28,000 after buying an additional 164 shares during the last quarter. Motiv8 Investments LLC purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter worth $28,000. Byrne Asset Management LLC acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter worth $30,000. Finally, Zions Bancorporation National Association UT lifted its stake in shares of McCormick & Company, Incorporated by 340.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 462 shares of the company's stock worth $31,000 after buying an additional 357 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Lawrence Kurzius sold 205,538 shares of the company's 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 sale, the insider owned 296,992 shares in the company, valued at $15,648,508.48. This represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. TD Cowen cut their target price on McCormick & Company, Incorporated from $64.00 to $60.00 and set a "buy" rating on the stock 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 research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft boosted their price target on McCormick & Company, Incorporated from $59.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Sanford C. Bernstein cut their price objective on McCormick & Company, Incorporated from $77.00 to $68.00 and set an "outperform" rating on the stock in a report on Friday, June 26th. Finally, UBS Group raised their price objective 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. Six 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 company currently has an average rating of "Hold" and an average target price of $60.50.

McCormick & Company, Incorporated Stock Up 0.1%

MKC stock opened at $52.11 on Monday. The company has a market capitalization of $14.01 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 2.05 and a beta of 0.64. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $72.41. The firm's fifty day simple moving average is $52.92 and its 200-day simple moving average is $53.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.78 and a quick ratio of 0.39.

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 (EPS) 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 firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter last year, the company posted $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 forecast that McCormick & Company, Incorporated will post 3.08 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed 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 3.7%. The ex-dividend date of this dividend was Monday, July 6th. McCormick & Company, Incorporated's payout ratio is 31.95%.

McCormick & Company, Incorporated Profile

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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