Cinctive Capital Management LP Acquires New Holdings in McCormick & Company, Incorporated $MKC

Cinctive Capital Management LP bought a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, Holdings Channel.com reports. The firm bought 12,880 shares of the company’s stock, valued at approximately $862,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Azimuth Capital Investment Management LLC boosted its holdings in shares of McCormick & Company, Incorporated by 9.9% during the 3rd quarter. Azimuth Capital Investment Management LLC now owns 6,635 shares of the company’s stock valued at $444,000 after acquiring an additional 600 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in McCormick & Company, Incorporated by 37.9% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 7,411 shares of the company’s stock worth $496,000 after purchasing an additional 2,036 shares in the last quarter. Bank of Nova Scotia increased its holdings in McCormick & Company, Incorporated by 22.3% in the 3rd quarter. Bank of Nova Scotia now owns 32,292 shares of the company’s stock worth $2,161,000 after purchasing an additional 5,882 shares in the last quarter. Lazard Asset Management LLC bought a new position in McCormick & Company, Incorporated in the third quarter valued at about $10,663,000. Finally, Credit Agricole S A bought a new position in McCormick & Company, Incorporated in the third quarter valued at about $6,410,000. Institutional investors own 79.74% of the company’s stock.

Insider Activity at McCormick & Company, Incorporated

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $71.63, for a total value of $3,581,500.00. Following the transaction, the insider owned 296,992 shares in the company, valued at approximately $21,273,536.96. The trade was a 14.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $67.09, for a total transaction of $335,450.00. Following the completion of the transaction, the director owned 31,596 shares in the company, valued at $2,119,775.64. This trade represents a 13.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 115,000 shares of company stock worth $7,947,300 over the last ninety days. Insiders own 10.60% of the company’s stock.

Analyst Ratings Changes

MKC has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price target on McCormick & Company, Incorporated from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Zacks Research downgraded McCormick & Company, Incorporated from a “hold” rating to a “strong sell” rating in a research note on Monday, March 9th. UBS Group dropped their price objective on shares of McCormick & Company, Incorporated from $70.00 to $67.00 and set a “neutral” rating for the company in a report on Friday, January 23rd. Stifel Nicolaus cut their target price on shares of McCormick & Company, Incorporated from $71.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.10.

McCormick & Company, Incorporated Trading Down 1.1%

NYSE MKC opened at $57.65 on Tuesday. The business’s 50-day moving average price is $66.08 and its two-hundred day moving average price is $66.54. McCormick & Company, Incorporated has a 12 month low of $56.68 and a 12 month high of $83.15. The firm has a market capitalization of $15.48 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 3.25 and a beta of 0.59. 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 issued 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 net margin of 11.54% and a return on equity of 14.27%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company posted $0.80 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

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.