McCormick & Company, Incorporated $MKC Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of McCormick & Company, Incorporated (NYSE:MKC) by 8.1% in the 3rd quarter, Holdings Channel reports. The fund owned 171,809 shares of the company’s stock after selling 15,113 shares during the quarter. New York State Common Retirement Fund’s holdings in McCormick & Company, Incorporated were worth $11,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MKC. Bank of Jackson Hole Trust purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter worth approximately $25,000. Elevation Point Wealth Partners LLC acquired a new position in McCormick & Company, Incorporated in the 2nd quarter valued at $27,000. Heartwood Wealth Advisors LLC purchased a new position in McCormick & Company, Incorporated during the 3rd quarter worth $28,000. Curio Wealth LLC raised its position in McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 399 shares during the last quarter. Finally, MTM Investment Management LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter worth $30,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MKC has been the topic of a number of recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and set a $87.00 price target on shares of McCormick & Company, Incorporated in a research note on Thursday, December 11th. Deutsche Bank Aktiengesellschaft raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Monday, December 15th. UBS Group cut their target price on McCormick & Company, Incorporated from $70.00 to $67.00 and set a “neutral” rating for the company in a research note on Friday, January 23rd. Barclays decreased their price target on McCormick & Company, Incorporated from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. cut their price objective on McCormick & Company, Incorporated from $79.00 to $72.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $73.30.

McCormick & Company, Incorporated Price Performance

Shares of NYSE:MKC opened at $63.28 on Wednesday. McCormick & Company, Incorporated has a 12 month low of $59.62 and a 12 month high of $86.24. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. The business’s 50 day simple moving average is $66.07 and its 200-day simple moving average is $67.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.70 and a quick ratio of 0.28.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, January 22nd. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.84 billion. McCormick & Company, Incorporated had a return on equity of 14.27% and a net margin of 11.54%.The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were given a $0.48 dividend. The ex-dividend date was Monday, December 29th. This represents a $1.92 annualized dividend and a dividend yield of 3.0%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s payout ratio is presently 65.53%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the sale, the chief executive officer owned 108,652 shares of the company’s stock, valued at $7,123,225.12. This represents a 34.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $67.43, for a total transaction of $3,371,500.00. Following the completion of the sale, the insider owned 246,762 shares in the company, valued at $16,639,161.66. This represents a 16.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 146,158 shares of company stock worth $9,635,824. 23.80% of the stock is owned by corporate insiders.

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.