Impax Asset Management Group plc Trims Stock Position in McCormick & Company, Incorporated $MKC

Impax Asset Management Group plc lessened its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 3.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 491,130 shares of the company’s stock after selling 18,379 shares during the period. Impax Asset Management Group plc’s holdings in McCormick & Company, Incorporated were worth $32,862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SBI Securities Co. Ltd. increased its holdings in McCormick & Company, Incorporated by 4.8% during the second quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company’s stock valued at $246,000 after buying an additional 148 shares during the last quarter. Nicholson Wealth Management Group LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.0% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 19,127 shares of the company’s stock worth $1,450,000 after acquiring an additional 181 shares during the last quarter. Modern Wealth Management LLC grew its position in shares of McCormick & Company, Incorporated by 5.9% during the 2nd quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock valued at $247,000 after acquiring an additional 181 shares during the period. Allianz Asset Management GmbH increased its stake in shares of McCormick & Company, Incorporated by 2.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 9,610 shares of the company’s stock worth $643,000 after purchasing an additional 185 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of McCormick & Company, Incorporated by 0.7% in the 2nd quarter. Nordea Investment Management AB now owns 26,900 shares of the company’s stock worth $2,044,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated 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 transaction, the insider owned 246,762 shares of the company’s stock, valued at $16,639,161.66. This represents a 16.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $67.09, for a total value of $335,450.00. Following the transaction, the director owned 31,596 shares of the company’s stock, valued at approximately $2,119,775.64. The trade was a 13.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 65,000 shares of company stock valued at $4,365,800. Corporate insiders own 23.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MKC. Deutsche Bank Aktiengesellschaft upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Monday, December 15th. Barclays lowered their price objective on McCormick & Company, Incorporated from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday, January 26th. JPMorgan Chase & Co. reduced their target price on shares of McCormick & Company, Incorporated from $79.00 to $72.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Jefferies Financial Group raised their target price on shares of McCormick & Company, Incorporated from $78.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Finally, TD Cowen dropped their price target on shares of McCormick & Company, Incorporated from $82.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus price target of $73.30.

McCormick & Company, Incorporated Stock Up 1.7%

Shares of MKC opened at $68.96 on Wednesday. The business’s 50 day moving average is $66.13 and its 200 day moving average is $67.13. The company has a market capitalization of $18.51 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 4.34 and a beta of 0.61. McCormick & Company, Incorporated has a 12-month low of $59.62 and a 12-month high of $86.24. The company has a current ratio of 0.70, a quick ratio of 0.28 and a debt-to-equity ratio of 0.54.

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

McCormick & Company, Incorporated Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, December 29th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 2.8%. McCormick & Company, Incorporated’s dividend payout ratio is 65.53%.

About McCormick & Company, Incorporated

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.