McCormick & Company, Incorporated $MKC Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 507,676 shares of the company’s stock after selling 17,947 shares during the period. Pictet Asset Management Holding SA’s holdings in McCormick & Company, Incorporated were worth $23,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MKC. Leelyn Smith LLC raised its stake in shares of McCormick & Company, Incorporated by 1.6% during the third quarter. Leelyn Smith LLC now owns 63,273 shares of the company’s stock valued at $2,936,000 after purchasing an additional 994 shares in the last quarter. Alps Advisors Inc. acquired a new stake in McCormick & Company, Incorporated in the third quarter worth about $10,695,000. Allegiance Financial Group Advisory Services LLC acquired a new stake in McCormick & Company, Incorporated in the third quarter worth about $241,000. Calamos Wealth Management LLC lifted its holdings in McCormick & Company, Incorporated by 2.2% in the third quarter. Calamos Wealth Management LLC now owns 13,899 shares of the company’s stock worth $645,000 after purchasing an additional 299 shares during the period. Finally, Rakuten Investment Management Inc. grew its position in McCormick & Company, Incorporated by 11.2% in the 3rd quarter. Rakuten Investment Management Inc. now owns 46,848 shares of the company’s stock valued at $2,267,000 after buying an additional 4,702 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on MKC shares. TD Cowen reissued a “hold” rating and set a $48.00 target price (down from $55.00) on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. Stifel Nicolaus dropped 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 report on Friday, October 2nd. Weiss Ratings raised shares of McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. UBS Group decreased their price objective on shares of McCormick & Company, Incorporated from $52.00 to $48.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. Finally, Deutsche Bank decreased their price objective on shares of McCormick & Company, Incorporated from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, September 21st. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.30.

McCormick & Company, Incorporated Price Performance

NYSE MKC opened at $46.94 on Thursday. The stock has a market capitalization of $12.63 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.97 and a beta of 0.66. McCormick & Company, Incorporated has a 1 year low of $43.25 and a 1 year high of $72.41. The business’s fifty day moving average is $48.04 and its two-hundred day moving average is $52.84. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.33 and a current ratio of 0.66.

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

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, October 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.1%. McCormick & Company, Incorporated’s payout ratio is 34.72%.

About McCormick & Company, Incorporated

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. Its products are sold in markets around the world.