Short Interest in McCormick & Company, Incorporated (NYSE:MKC) Drops By 14.2%

McCormick & Company, Incorporated (NYSE:MKC) saw a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 11,646,197 shares, a decrease of 14.2% from the February 12th total of 13,578,434 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average daily trading volume, of 2,957,728 shares, the days-to-cover ratio is currently 3.9 days. Based on an average daily trading volume, of 2,957,728 shares, the days-to-cover ratio is currently 3.9 days. Approximately 4.9% of the company’s stock are short sold.

Analyst Ratings Changes

MKC has been the topic of several research analyst reports. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $72.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday, January 26th. JPMorgan Chase & Co. upped their price objective on McCormick & Company, Incorporated from $72.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Zacks Research lowered McCormick & Company, Incorporated from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. HSBC lowered their price target on McCormick & Company, Incorporated from $75.00 to $69.00 and set a “hold” rating for the company in a report on Friday, January 23rd. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $87.00 price objective on shares of McCormick & Company, Incorporated in a research note on Thursday, December 11th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.10.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the company’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 of the company’s stock, valued at $2,922,529.68. This represents a 10.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $71.63, for a total transaction of $3,581,500.00. Following the transaction, the insider owned 296,992 shares in the company, valued at $21,273,536.96. This trade represents a 14.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 115,000 shares of company stock valued at $7,947,300. 10.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rafferty Asset Management LLC increased its position in McCormick & Company, Incorporated by 0.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock valued at $1,443,000 after acquiring an additional 157 shares during the period. Ransom Advisory Ltd boosted its position in McCormick & Company, Incorporated by 3.6% during the 4th quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock worth $315,000 after acquiring an additional 160 shares during the period. Deseret Mutual Benefit Administrators grew its stake in shares of McCormick & Company, Incorporated by 67.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after purchasing an additional 164 shares in the last quarter. Glen Eagle Advisors LLC increased its holdings in shares of McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock valued at $39,000 after purchasing an additional 170 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of McCormick & Company, Incorporated by 10.5% during the fourth quarter. Van ECK Associates Corp now owns 1,795 shares of the company’s stock valued at $122,000 after purchasing an additional 171 shares during the period. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded down $0.94 during midday trading on Wednesday, reaching $56.14. 398,377 shares of the company traded hands, compared to its average volume of 3,769,002. The firm has a market capitalization of $15.07 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 3.22 and a beta of 0.59. The company has a fifty day moving average price of $65.90 and a 200 day moving average price of $66.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.70 and a quick ratio of 0.28. McCormick & Company, Incorporated has a twelve month low of $56.22 and a twelve month high of $83.15.

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

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.