17,947 McCormick & Company, Incorporated $MKC Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 507,676 shares of the company’s stock after selling 17,947 shares during the quarter. Pictet Asset Management Holding SA owned 0.19% of McCormick & Company, Incorporated worth $23,556,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MKC. Investors Research Corp acquired a new position in McCormick & Company, Incorporated in the second quarter worth $1,152,000. Rockland Trust Co. increased its stake in McCormick & Company, Incorporated by 6.2% during the third quarter. Rockland Trust Co. now owns 393,414 shares of the company’s stock valued at $18,254,000 after purchasing an additional 22,991 shares during the last quarter. Viking Fund Management LLC increased its stake in McCormick & Company, Incorporated by 9.9% during the third quarter. Viking Fund Management LLC now owns 368,000 shares of the company’s stock valued at $17,075,000 after purchasing an additional 33,000 shares during the last quarter. Trust Co. of Vermont bought a new stake in McCormick & Company, Incorporated during the second quarter valued at $1,331,000. Finally, XXEC Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter worth $154,566,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.5%

NYSE:MKC opened at $46.94 on Thursday. The firm 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. The business has a 50 day simple moving average of $48.04 and a 200 day simple moving average of $52.84. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.66 and a quick ratio of 0.33. McCormick & Company, Incorporated has a 12-month low of $43.25 and a 12-month high of $72.41.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, October 1st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.10. McCormick & Company, Incorporated had a return on equity of 12.01% and a net margin of 19.39%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 17.4% 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 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared 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 was Tuesday, October 13th. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. McCormick & Company, Incorporated’s dividend payout ratio is currently 34.72%.

Analyst Upgrades and Downgrades

MKC has been the topic of a number of research reports. UBS Group dropped their target price on shares of McCormick & Company, Incorporated from $52.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, September 18th. Weiss Ratings raised shares of McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. TD Cowen reiterated a “hold” rating and set a $48.00 price objective (down from $55.00) on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. Finally, Barclays dropped their price objective on shares of McCormick & Company, Incorporated from $55.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Friday, October 2nd. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.30.

McCormick & Company, Incorporated Profile

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.