SEB Asset Management AB Takes Position in McCormick & Company, Incorporated $MKC

SEB Asset Management AB acquired a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 52,949 shares of the company's stock, valued at approximately $2,671,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 valued at $2,225,828,000 after purchasing an additional 314,252 shares during the period. State Street Corp boosted its holdings in McCormick & Company, Incorporated by 5.1% in the 3rd quarter. State Street Corp now owns 15,522,816 shares of the company's stock worth $1,038,632,000 after buying an additional 747,844 shares during the period. Geode Capital Management LLC increased its stake 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 buying an additional 59,587 shares in the last quarter. Invesco Ltd. increased its stake in McCormick & Company, Incorporated by 3.1% in the 4th quarter. Invesco Ltd. now owns 6,422,944 shares of the company's stock worth $437,467,000 after buying an additional 190,607 shares in the last quarter. Finally, Aristotle Capital Management LLC purchased a new stake in McCormick & Company, Incorporated in the 4th quarter worth $259,918,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Trading Down 3.5%

Shares of MKC opened at $50.22 on Friday. The company's fifty day moving average is $49.23 and its 200 day moving average is $55.85. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $73.84. The stock has a market capitalization of $13.50 billion, a PE ratio of 8.36, a P/E/G ratio of 2.60 and a beta of 0.63. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.78.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Thursday, June 25th. The company reported $0.80 EPS for the quarter, beating 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 business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business earned $0.69 earnings per share. McCormick & Company, Incorporated's quarterly 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. Sell-side analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share 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 issued 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 dividend yield of 3.8%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 31.95%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MKC shares. Barclays lowered their price objective on 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. Weiss Ratings downgraded McCormick & Company, Incorporated from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, June 12th. HSBC dropped their price target on McCormick & Company, Incorporated from $69.00 to $55.00 and set a "hold" rating for the company in a research note on Thursday, March 26th. Sanford C. Bernstein cut their price objective on shares of McCormick & Company, Incorporated from $77.00 to $68.00 and set an "outperform" rating for the company in a report on Friday, June 26th. Finally, Stifel Nicolaus reduced their price objective on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a "hold" rating on the stock in a research report on Wednesday, April 1st. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $60.50.

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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