Canandaigua National Trust Co of Florida Buys 12,926 Shares of McCormick & Company, Incorporated $MKC

Canandaigua National Trust Co of Florida bought a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,926 shares of the company’s stock, valued at approximately $600,000.

Several other institutional investors also recently bought and sold shares of MKC. Canandaigua National Bank & Trust Co. increased its holdings in McCormick & Company, Incorporated by 335.0% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 25,087 shares of the company’s stock valued at $1,164,000 after acquiring an additional 19,320 shares during the last quarter. Ridgewood Investments LLC grew its position in shares of McCormick & Company, Incorporated by 14.0% during the third quarter. Ridgewood Investments LLC now owns 22,946 shares of the company’s stock valued at $1,065,000 after purchasing an additional 2,819 shares in the last quarter. Eastern Bank increased its holdings in shares of McCormick & Company, Incorporated by 39.6% in the third quarter. Eastern Bank now owns 1,057 shares of the company’s stock worth $49,000 after purchasing an additional 300 shares during the last quarter. Rockland Trust Co. increased its holdings in shares of McCormick & Company, Incorporated by 6.2% in the third quarter. Rockland Trust Co. now owns 393,414 shares of the company’s stock worth $18,254,000 after purchasing an additional 22,991 shares during the last quarter. Finally, CX Institutional lifted its position in shares of McCormick & Company, Incorporated by 16.6% in the third quarter. CX Institutional now owns 3,372 shares of the company’s stock worth $156,000 after buying an additional 481 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on MKC shares. Weiss Ratings raised McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 5th. Stifel Nicolaus decreased their price objective on McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, October 2nd. UBS Group cut their target price 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. JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. Finally, BNP Paribas Exane decreased their price target on shares of McCormick & Company, Incorporated from $75.00 to $65.00 and set an “outperform” 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.30.

McCormick & Company, Incorporated Trading Down 0.2%

NYSE MKC traded down $0.10 during trading hours on Wednesday, hitting $45.30. 4,117,068 shares of the company were exchanged, compared to its average volume of 3,987,377. The stock has a 50-day moving average price of $51.51 and a 200 day moving average price of $50.54. The company has a quick ratio of 0.33, a current ratio of 0.66 and a debt-to-equity ratio of 0.38. McCormick & Company, Incorporated has a 52 week low of $43.25 and a 52 week high of $72.41. The stock has a market cap of $12.18 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Thursday, October 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. The business had revenue of $2.02 billion for 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 period in the prior year, the business posted $0.85 earnings per share. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. 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 declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Tuesday, October 13th will be given a $0.48 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $1.92 dividend on an annualized basis and a yield of 4.2%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 34.72%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of McCormick & Company, Incorporated stock in a transaction on Monday, August 10th. The shares were sold at an average price of $52.69, for a total transaction of $10,829,797.22. Following the completion of the transaction, the insider directly owned 296,992 shares of the company’s stock, valued at $15,648,508.48. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.60% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated is a global producer and marketer of spices, herbs, seasonings, condiments, sauces and other flavor products. The company sells branded products to consumers through grocery stores, e-commerce channels and other retail outlets, while also supplying customized flavor solutions, ingredients and seasonings to food manufacturers, restaurants and foodservice operators.

Its portfolio includes the McCormick, French’s, Frank’s RedHot, Lawry’s, OLD BAY, Zatarain’s, Grill Mates and Cholula brands, among others.