Parallel Advisors LLC Sells 14,186 Shares of McCormick & Company, Incorporated $MKC

Parallel Advisors LLC lessened its stake in McCormick & Company, Incorporated (NYSE:MKC) by 18.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 63,873 shares of the company’s stock after selling 14,186 shares during the period. Parallel Advisors LLC’s holdings in McCormick & Company, Incorporated were worth $2,964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MKC. Aristotle Capital Management LLC grew its holdings in McCormick & Company, Incorporated by 231.9% during the first quarter. Aristotle Capital Management LLC now owns 12,664,378 shares of the company’s stock worth $638,795,000 after acquiring an additional 8,848,235 shares during the period. XXEC Inc. purchased a new position in McCormick & Company, Incorporated during the second quarter valued at approximately $154,566,000. ProShare Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 2.6% in the third quarter. ProShare Advisors LLC now owns 3,222,289 shares of the company’s stock valued at $149,514,000 after acquiring an additional 82,353 shares during the period. Amundi lifted its holdings in McCormick & Company, Incorporated by 72.5% in the first quarter. Amundi now owns 2,023,544 shares of the company’s stock valued at $102,068,000 after acquiring an additional 850,343 shares during the period. Finally, Vest Financial LLC lifted its holdings in McCormick & Company, Incorporated by 0.8% in the third quarter. Vest Financial LLC now owns 941,999 shares of the company’s stock valued at $43,709,000 after acquiring an additional 7,823 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MKC. JPMorgan Chase & Co. lowered their price objective on 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. Stifel Nicolaus cut their target price on shares of McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating for the company in a report on Friday, October 2nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $59.00 target price on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. BNP Paribas Exane lowered 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 report on Friday, October 2nd. Finally, TD Cowen reissued a “hold” rating and set a $48.00 price target (down from $55.00) on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.30.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $48.42 on Monday. 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 twelve month low of $43.25 and a twelve month high of $72.41. The business has a 50-day moving average price of $48.49 and a 200 day moving average price of $53.07. The firm has a market cap of $13.03 billion, a PE ratio of 8.76, a P/E/G ratio of 2.04 and a beta of 0.66.

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

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th were given a $0.48 dividend. The ex-dividend date was Tuesday, October 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.0%. McCormick & Company, Incorporated’s payout ratio is 34.72%.

McCormick & Company, Incorporated Company 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.