Principal Financial Group Inc. Cuts Stock Position in McCormick & Company, Incorporated $MKC

Principal Financial Group Inc. decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 276,484 shares of the company’s stock after selling 13,956 shares during the quarter. Principal Financial Group Inc. owned 0.10% of McCormick & Company, Incorporated worth $18,500,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Savoir Faire Capital Management L.P. grew its stake in shares of McCormick & Company, Incorporated by 90.0% during the third quarter. Savoir Faire Capital Management L.P. now owns 118,313 shares of the company’s stock worth $7,916,000 after purchasing an additional 56,049 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in McCormick & Company, Incorporated during the 2nd quarter worth about $4,321,000. Generali Asset Management SPA SGR lifted its holdings in McCormick & Company, Incorporated by 7,290.3% during the 3rd quarter. Generali Asset Management SPA SGR now owns 19,067 shares of the company’s stock worth $1,276,000 after buying an additional 18,809 shares during the last quarter. PGGM Investments boosted its position in shares of McCormick & Company, Incorporated by 141.9% during the 3rd quarter. PGGM Investments now owns 677,573 shares of the company’s stock worth $45,336,000 after acquiring an additional 397,508 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of McCormick & Company, Incorporated by 15.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 688,032 shares of the company’s stock valued at $46,036,000 after acquiring an additional 92,799 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MKC shares. Stifel Nicolaus decreased their target price on McCormick & Company, Incorporated from $71.00 to $65.00 and set a “hold” rating for the company in a research note on Friday, January 23rd. Jefferies Financial Group boosted their price objective on shares of McCormick & Company, Incorporated from $78.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Sanford C. Bernstein restated an “outperform” rating and issued a $87.00 target price on shares of McCormick & Company, Incorporated in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Monday, December 15th. Finally, UBS Group reduced their price target on shares of McCormick & Company, Incorporated from $70.00 to $67.00 and set a “neutral” rating for the company in a research report on Friday, January 23rd. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.30.

McCormick & Company, Incorporated Stock Up 0.8%

Shares of NYSE:MKC opened at $67.50 on Monday. McCormick & Company, Incorporated has a 1-year low of $59.62 and a 1-year high of $86.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.70 and a quick ratio of 0.28. The stock has a market cap of $18.12 billion, a P/E ratio of 23.04, a P/E/G ratio of 4.31 and a beta of 0.61. The firm has a fifty day moving average price of $66.04 and a 200 day moving average price of $67.18.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). McCormick & Company, Incorporated had a net margin of 11.54% and a return on equity of 14.27%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. 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 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $1.92 annualized dividend and a yield of 2.8%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 65.53%.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $63.85, for a total value of $319,250.00. Following the transaction, the director directly owned 31,596 shares in the company, valued at approximately $2,017,404.60. This trade represents a 13.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brendan M. Foley sold 57,144 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the transaction, the chief executive officer directly owned 108,652 shares in the company, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 151,158 shares of company stock valued at $9,955,074. 23.80% of the stock is owned by company insiders.

McCormick & Company, Incorporated Company Profile

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.