Swedbank AB Has $42.22 Million Stake in McCormick & Company, Incorporated $MKC

Key Points

• Swedbank AB trimmed its stake in McCormick by 4.5%, selling 29,000 shares and ending the quarter with 619,898 shares worth about $42.22 million (≈0.23% of the company).
• McCormick beat quarterly estimates with EPS of $0.66 vs. $0.61 and revenue of $1.87 billion vs. $1.79 billion, a 16.7% year‑over‑year revenue increase and healthy margins (net margin 23.12%).
• Dividend and analyst outlook: McCormick pays a $0.48 quarterly dividend (annualized $1.92, ~4.0% yield), while analysts hold a consensus "Hold" rating with an average target of $64.27 after several firms lowered price targets.

Swedbank AB trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 619,898 shares of the company's stock after selling 29,000 shares during the quarter. Swedbank AB owned about 0.23% of McCormick & Company, Incorporated worth $42,221,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MKC. Invesco Ltd. increased its position in McCormick & Company, Incorporated by 66.7% during the third quarter. Invesco Ltd. now owns 6,232,337 shares of the company's stock worth $417,006,000 after buying an additional 2,494,544 shares during the last quarter. Wellington Management Group LLP increased its position in McCormick & Company, Incorporated by 67.2% during the third quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company's stock worth $187,183,000 after buying an additional 1,124,003 shares during the last quarter. State Street Corp increased its position in 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 buying an additional 747,844 shares during the last quarter. American Century Companies Inc. acquired a new position in McCormick & Company, Incorporated during the third quarter worth $48,576,000. Finally, Scopus Asset Management L.P. increased its position in McCormick & Company, Incorporated by 191.0% during the third quarter. Scopus Asset Management L.P. now owns 885,250 shares of the company's stock worth $59,232,000 after buying an additional 581,017 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Trading Down 1.3%

Shares of NYSE:MKC opened at $47.88 on Friday. The company has a market cap of $12.87 billion, a P/E ratio of 7.85, a P/E/G ratio of 2.38 and a beta of 0.68. The stock's 50-day moving average is $55.38 and its 200-day moving average is $62.60. McCormick & Company, Incorporated has a 52-week low of $47.30 and a 52-week high of $78.16. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The firm's revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. Equities research analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 20th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, April 20th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 31.48%.

Insider Activity at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $71.63, for a total value of $3,581,500.00. Following the completion of the sale, the insider owned 296,992 shares in the company, valued at approximately $21,273,536.96. This trade represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $67.92, for a total transaction of $339,600.00. Following the completion of the sale, the director owned 43,029 shares of the company's stock, valued at approximately $2,922,529.68. The trade was a 10.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on MKC. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McCormick & Company, Incorporated from $70.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, March 30th. Zacks Research raised shares of McCormick & Company, Incorporated from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of McCormick & Company, Incorporated in a research report on Monday, April 27th. BNP Paribas Exane lowered their price target on McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 1st. Finally, Barclays lowered their price target on McCormick & Company, Incorporated from $67.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average target price of $64.27.

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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