Tidal Investments LLC Raises Stock Holdings in McCormick & Company, Incorporated $MKC

Tidal Investments LLC raised its stake in McCormick & Company, Incorporated (NYSE:MKC) by 71.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 61,954 shares of the company’s stock after purchasing an additional 25,922 shares during the quarter. Tidal Investments LLC’s holdings in McCormick & Company, Incorporated were worth $3,124,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Aristotle Capital Management LLC increased its position in shares of McCormick & Company, Incorporated by 231.9% during the first quarter. Aristotle Capital Management LLC now owns 12,664,378 shares of the company’s stock valued at $638,795,000 after acquiring an additional 8,848,235 shares during the last quarter. XXEC Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 2nd quarter worth approximately $154,566,000. Geode Capital Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 6,508,928 shares of the company’s stock worth $441,571,000 after acquiring an additional 59,587 shares during the last quarter. Amundi lifted its holdings in shares of McCormick & Company, Incorporated by 72.5% in the 1st quarter. Amundi now owns 2,023,544 shares of the company’s stock worth $102,068,000 after acquiring an additional 850,343 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of McCormick & Company, Incorporated by 60.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,659,766 shares of the company’s stock worth $113,047,000 after purchasing an additional 628,390 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Down 1.1%

Shares of MKC stock opened at $49.83 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $72.41. The company has a 50 day moving average price of $52.76 and a 200 day moving average price of $52.17. The stock has a market capitalization of $13.40 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 1.98 and a beta of 0.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.78.

McCormick & Company, Incorporated (NYSE:MKC) last released its 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. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business earned $0.69 EPS. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 3.08 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.9%. McCormick & Company, Incorporated’s dividend payout ratio is currently 31.95%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, June 12th. Sanford C. Bernstein decreased their price target on McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft raised their price target on McCormick & Company, Incorporated from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. TD Cowen cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating and dropped their price objective for the company from $60.00 to $55.00 in a research note on Monday. Finally, Jefferies Financial Group cut their price objective on McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.00.

Insider Activity

In other news, major shareholder Lawrence Kurzius sold 205,538 shares of the stock in a transaction on 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 sale, the insider directly owned 296,992 shares in the company, valued at approximately $15,648,508.48. This trade represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.60% of the company’s stock.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE:MKC) is a global food company that manufactures, markets and distributes spices, herbs, seasonings, condiments, sauces and other flavoring products. Its portfolio serves both retail consumers and foodservice customers, while its flavor solutions business supplies seasoning blends, natural flavors and other ingredients to food manufacturers and restaurant operators.

The company’s consumer brands include McCormick, French’s, Frank’s RedHot, Lawry’s, Old Bay and Gourmet Garden, among others.