Fifth Third Bancorp Boosts Holdings in McCormick & Company, Incorporated $MKC

Fifth Third Bancorp boosted its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 61.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,597 shares of the company’s stock after acquiring an additional 71,903 shares during the period. Fifth Third Bancorp owned about 0.07% of McCormick & Company, Incorporated worth $9,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Deseret Mutual Benefit Administrators raised its position in shares of McCormick & Company, Incorporated by 67.8% during the 4th 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 last quarter. Motiv8 Investments LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $28,000. GoalVest Advisory LLC acquired a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $28,000. Zions Bancorporation National Association UT increased its position in McCormick & Company, Incorporated by 340.0% during the fourth quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock worth $31,000 after buying an additional 357 shares in the last quarter. Finally, Union Savings Bank purchased a new position in McCormick & Company, Incorporated during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings cut McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a research 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 company a “buy” rating in a report on Friday, June 26th. JPMorgan Chase & Co. cut 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 research report on Friday, June 12th. Stifel Nicolaus reduced their price objective on shares of McCormick & Company, Incorporated from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Finally, HSBC reduced their price objective on shares of McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.50.

McCormick & Company, Incorporated Stock Down 3.7%

Shares of MKC opened at $50.90 on Thursday. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $73.84. The company’s fifty day moving average is $48.64 and its two-hundred day moving average is $56.55. The firm has a market cap of $13.69 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. The company has a quick ratio of 0.39, a current ratio of 0.78 and a debt-to-equity ratio of 0.48.

McCormick & Company, Incorporated (NYSE:MKC) last issued its earnings results on Thursday, June 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.11. McCormick & Company, Incorporated had a return on equity of 12.78% and a net margin of 21.91%.The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company posted $0.69 EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. 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 year.

McCormick & Company, Incorporated Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Monday, July 6th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, July 6th. McCormick & Company, Incorporated’s payout ratio is currently 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.