DoubleLine ETF Adviser LP Makes New Investment in McCormick & Company, Incorporated $MKC

DoubleLine ETF Adviser LP purchased a new position in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 13,279 shares of the company’s stock, valued at approximately $888,000.

Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in McCormick & Company, Incorporated by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock worth $2,854,000 after purchasing an additional 925 shares during the period. Empowered Funds LLC grew its holdings in McCormick & Company, Incorporated by 19.0% during the first quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock valued at $486,000 after purchasing an additional 941 shares during the last quarter. Woodline Partners LP raised its position in shares of McCormick & Company, Incorporated by 40.9% in the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock valued at $1,756,000 after purchasing an additional 6,189 shares during the period. Prospera Financial Services Inc raised its position in shares of McCormick & Company, Incorporated by 11.2% in the second quarter. Prospera Financial Services Inc now owns 5,946 shares of the company’s stock valued at $451,000 after purchasing an additional 597 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of McCormick & Company, Incorporated by 147.9% in the second quarter. Acadian Asset Management LLC now owns 30,451 shares of the company’s stock worth $2,307,000 after buying an additional 18,166 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 1.7%

Shares of MKC stock opened at $58.32 on Friday. McCormick & Company, Incorporated has a 12 month low of $57.29 and a 12 month high of $83.15. The company has a quick ratio of 0.28, a current ratio of 0.70 and a debt-to-equity ratio of 0.54. The firm has a market cap of $15.66 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 3.25 and a beta of 0.59. The stock has a 50 day moving average of $66.24 and a 200-day moving average of $66.66.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). McCormick & Company, Incorporated had a return on equity of 14.27% and a net margin of 11.54%.The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The company’s revenue was up 2.9% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on MKC shares. Zacks Research downgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. TD Cowen dropped their target price on shares of McCormick & Company, Incorporated from $82.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Barclays cut their target price on shares of McCormick & Company, Incorporated from $72.00 to $67.00 and set an “equal weight” rating for the company in a research report on Monday, January 26th. Stifel Nicolaus decreased their price target on shares of McCormick & Company, Incorporated from $71.00 to $65.00 and set a “hold” rating for the company in a report on Friday, January 23rd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $87.00 price target on shares of McCormick & Company, Incorporated in a research report on Thursday, December 11th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $74.10.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $67.92, for a total value of $339,600.00. Following the sale, the director directly owned 43,029 shares in the company, valued at $2,922,529.68. This trade represents a 10.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $71.63, for a total transaction of $3,581,500.00. Following the completion of the sale, the insider owned 296,992 shares in the company, valued at $21,273,536.96. This represents a 14.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 115,000 shares of company stock valued at $7,947,300 in the last ninety days. Company insiders own 10.60% of the company’s stock.

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.