McCormick & Company, Incorporated $MKC Stock: Parallel Advisors LLC Reduces Position

Parallel Advisors LLC trimmed its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 18.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,873 shares of the company’s stock after selling 14,186 shares during the quarter. Parallel Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $2,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Parvin Asset Management LLC purchased a new stake in McCormick & Company, Incorporated in the second quarter valued at about $25,000. Byrne Asset Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter worth about $30,000. Ancora Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter worth about $34,000. Essential Partners LLC grew its stake in shares of McCormick & Company, Incorporated by 146.5% during the first quarter. Essential Partners LLC now owns 742 shares of the company’s stock worth $37,000 after acquiring an additional 441 shares during the last quarter. Finally, Provenance Wealth Advisors LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter worth about $42,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $48.42 on Monday. The business’s 50 day moving average price is $48.49 and its 200 day moving average price is $53.07. The firm has a market cap of $13.03 billion, a P/E ratio of 8.76, a P/E/G ratio of 2.04 and a beta of 0.66. McCormick & Company, Incorporated has a 52 week low of $43.25 and a 52 week high of $72.41. The company has a quick ratio of 0.33, a current ratio of 0.66 and a debt-to-equity ratio of 0.38.

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

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, October 13th. McCormick & Company, Incorporated’s dividend payout ratio is 34.72%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. TD Cowen restated a “hold” rating and set a $48.00 price objective (down from $55.00) on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $59.00 target price on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $55.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, October 2nd. JPMorgan Chase & Co. cut their price target on shares of McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. Finally, Stifel Nicolaus cut their price target on shares of McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating on the stock in a research note on Friday, October 2nd. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated has an average rating of “Hold” and a consensus price target of $55.30.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated manufactures, markets and distributes spices, herbs, seasonings, condiments and other flavor products. Its offerings include individual spices and herbs, seasoning blends, extracts, sauces and hot sauces sold under brands such as McCormick, French’s, Frank’s RedHot, OLD BAY and Cholula.

The company serves consumers through retail stores and e-commerce, and supplies flavor products and solutions to food service businesses and food and beverage manufacturers.