Rockland Trust Co. Acquires 69,332 Shares of McCormick & Company, Incorporated $MKC

Rockland Trust Co. lifted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 23.0% during the second quarter, Holdings Channel.com reports. The firm owned 370,423 shares of the company’s stock after acquiring an additional 69,332 shares during the quarter. Rockland Trust Co.’s holdings in McCormick & Company, Incorporated were worth $18,677,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Deseret Mutual Benefit Administrators increased its stake in McCormick & Company, Incorporated by 67.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after purchasing an additional 164 shares during the period. Glen Eagle Advisors LLC boosted its stake in shares of McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock valued at $39,000 after purchasing an additional 170 shares during the period. Van ECK Associates Corp boosted its stake in shares of McCormick & Company, Incorporated by 10.5% during the fourth quarter. Van ECK Associates Corp now owns 1,795 shares of the company’s stock valued at $122,000 after purchasing an additional 171 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 10.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,910 shares of the company’s stock worth $131,000 after purchasing an additional 176 shares during the last quarter. Finally, Modern Wealth Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 5.9% in the second quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock worth $247,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MKC. JPMorgan Chase & Co. decreased their price objective 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of McCormick & Company, Incorporated from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Friday, June 26th. Sanford C. Bernstein decreased their price target on shares of McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, June 26th. Finally, TD Cowen lowered their price target on McCormick & Company, Incorporated from $64.00 to $60.00 and set a “buy” rating for the company in a report on Friday, June 26th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.50.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $52.94 on Friday. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $72.58. The business has a 50-day moving average price of $50.22 and a 200 day moving average price of $54.74. The company has a market capitalization of $14.23 billion, a P/E ratio of 8.81, a PEG ratio of 2.62 and a beta of 0.64. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.78 and a quick ratio of 0.39.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.11. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.91 billion. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. As a group, equities research analysts forecast that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, July 6th. McCormick & Company, Incorporated’s dividend payout ratio is presently 31.95%.

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.