Swedbank AB Sells 244,570 Shares of McCormick & Company, Incorporated $MKC

Key Points

• Swedbank AB cut its McCormick stake by 39.5% in the first quarter, selling 244,570 shares and leaving it with 375,328 shares valued at about $18.9 million.
• McCormick reported stronger-than-expected quarterly results, posting EPS of $0.80 versus estimates of $0.69 and revenue of $1.94 billion, up 16.7% year over year.
• The company continues to attract mixed Wall Street sentiment, with a consensus rating of “Hold” and an average price target of $60.50, while analysts have recently trimmed several price objectives.

Swedbank AB lowered its stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 39.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 375,328 shares of the company's stock after selling 244,570 shares during the quarter. Swedbank AB owned 0.14% of McCormick & Company, Incorporated worth $18,932,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Beacon Bank & Trust purchased a new position in McCormick & Company, Incorporated in the first quarter worth $302,000. Ascentis Independent Advisors purchased a new stake in McCormick & Company, Incorporated during the first quarter valued at about $80,000. Praxis Investment Management Inc. bought a new stake in McCormick & Company, Incorporated during the first quarter worth about $298,000. Revisor Wealth Management LLC lifted its stake in McCormick & Company, Incorporated by 14.6% during the first quarter. Revisor Wealth Management LLC now owns 8,669 shares of the company's stock worth $441,000 after purchasing an additional 1,102 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in shares of McCormick & Company, Incorporated by 19.7% in the 1st quarter. V Square Quantitative Management LLC now owns 12,100 shares of the company's stock worth $610,000 after purchasing an additional 1,988 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MKC has been the topic of several recent research reports. TD Cowen reduced their price objective 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. BTIG Research began coverage on McCormick & Company, Incorporated in a research report on Tuesday, April 14th. They issued a "neutral" rating for the company. JPMorgan Chase & Co. cut their target price on McCormick & Company, Incorporated from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, June 12th. BNP Paribas Exane lowered their price objective on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Finally, 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 research note on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average price target of $60.50.

McCormick & Company, Incorporated Stock Down 0.2%

Shares of McCormick & Company, Incorporated stock opened at $51.48 on Friday. The company's 50 day moving average price is $48.40 and its 200-day moving average price is $57.00. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $73.84. 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 stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 2.58 and a beta of 0.63.

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 (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 analyst estimates of $1.91 billion. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. The company's revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, July 6th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, July 6th. McCormick & Company, Incorporated's dividend payout ratio is currently 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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