12,926 Shares of McCormick & Company, Incorporated $MKC Purchased by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,926 shares of the company’s stock, valued at approximately $600,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MKC. Canandaigua National Bank & Trust Co. lifted its stake in shares of McCormick & Company, Incorporated by 335.0% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 25,087 shares of the company’s stock worth $1,164,000 after purchasing an additional 19,320 shares during the period. Ridgewood Investments LLC grew its position in McCormick & Company, Incorporated by 14.0% during the third quarter. Ridgewood Investments LLC now owns 22,946 shares of the company’s stock valued at $1,065,000 after buying an additional 2,819 shares during the period. Eastern Bank increased its holdings in McCormick & Company, Incorporated by 39.6% during the third quarter. Eastern Bank now owns 1,057 shares of the company’s stock valued at $49,000 after buying an additional 300 shares during the last quarter. Rockland Trust Co. increased its holdings in McCormick & Company, Incorporated by 6.2% during the third quarter. Rockland Trust Co. now owns 393,414 shares of the company’s stock valued at $18,254,000 after buying an additional 22,991 shares during the last quarter. Finally, CX Institutional raised its position in McCormick & Company, Incorporated by 16.6% in the third quarter. CX Institutional now owns 3,372 shares of the company’s stock worth $156,000 after acquiring an additional 481 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded down $0.10 during mid-day trading on Wednesday, reaching $45.30. The stock had a trading volume of 4,117,068 shares, compared to its average volume of 3,987,377. The business has a fifty day moving average of $51.51 and a 200 day moving average of $50.54. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.33 and a current ratio of 0.66. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 1.92 and a beta of 0.65. McCormick & Company, Incorporated has a 12 month low of $43.25 and a 12 month high of $72.41.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, October 1st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. McCormick & Company, Incorporated had a net margin of 19.39% and a return on equity of 12.01%. McCormick & Company, Incorporated’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Equities analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, October 13th. McCormick & Company, Incorporated’s payout ratio is presently 34.72%.

Insider Activity at McCormick & Company, Incorporated

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 completion of the transaction, the insider owned 296,992 shares of the company’s stock, valued at $15,648,508.48. This represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MKC. Stifel Nicolaus cut their price objective on shares of McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating for the company in a research report on Friday, October 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $59.00 target price on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on McCormick & Company, Incorporated from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. Weiss Ratings raised McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 5th. Finally, TD Cowen restated a “hold” rating and issued a $48.00 price target (down from $55.00) on shares of McCormick & Company, Incorporated in a research report on Friday, October 2nd. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.30.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated is a global producer and marketer of spices, herbs, seasonings, condiments, sauces and other flavor products. The company sells branded products to consumers through grocery stores, e-commerce channels and other retail outlets, while also supplying customized flavor solutions, ingredients and seasonings to food manufacturers, restaurants and foodservice operators.

Its portfolio includes the McCormick, French’s, Frank’s RedHot, Lawry’s, OLD BAY, Zatarain’s, Grill Mates and Cholula brands, among others.