McCormick & Company, Incorporated $MKC Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its McCormick stake by 1,691.7% in the third quarter, acquiring 142,050 additional shares and ending with a position worth approximately $6.98 million. Institutional investors collectively own 79.74% of MKC.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, seven a Hold, and one a Sell, resulting in a consensus Hold rating and a $55.30 target price.
• McCormick exceeded quarterly expectations with $0.86 in adjusted earnings per share and $2.02 billion in revenue, while declaring a quarterly dividend of $0.48 per share, representing a 4.0% annualized yield.

Assenagon Asset Management S.A. increased its position in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 1,691.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 150,447 shares of the company's stock after buying an additional 142,050 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of McCormick & Company, Incorporated worth $6,981,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MKC. Viking Fund Management LLC boosted its stake in McCormick & Company, Incorporated by 9.9% during the 3rd quarter. Viking Fund Management LLC now owns 368,000 shares of the company's stock valued at $17,075,000 after purchasing an additional 33,000 shares during the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter worth approximately $204,000. First Citizens Bank & Trust Co. purchased a new stake in shares of McCormick & Company, Incorporated in the third quarter worth approximately $645,000. Fluent Financial LLC lifted its holdings in shares of McCormick & Company, Incorporated by 13.1% in the third quarter. Fluent Financial LLC now owns 31,822 shares of the company's stock valued at $1,477,000 after purchasing an additional 3,689 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new position in shares of McCormick & Company, Incorporated in the third quarter valued at approximately $5,160,000. 79.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $52.69, for a total value of $10,829,797.22. Following the transaction, the insider owned 296,992 shares of the company's stock, valued at approximately $15,648,508.48. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.60% of the company's stock.

Wall Street Analyst Weigh In

MKC has been the topic of several analyst reports. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $59.00 target price on shares of McCormick & Company, Incorporated in a research report on Friday, October 2nd. UBS Group decreased their price target on McCormick & Company, Incorporated from $52.00 to $48.00 and set a "neutral" rating for the company in a report on Friday, October 2nd. Weiss Ratings lowered McCormick & Company, Incorporated from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, October 9th. Stifel Nicolaus dropped their price objective on McCormick & Company, Incorporated from $55.00 to $48.00 and set a "hold" rating on the stock in a research note on Friday, October 2nd. Finally, TD Cowen restated a "hold" rating and set a $48.00 price objective (down from $55.00) on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $55.30.

McCormick & Company, Incorporated Trading Up 3.7%

NYSE:MKC opened at $47.54 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.33 and a current ratio of 0.66. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.94 and a beta of 0.65. McCormick & Company, Incorporated has a 52 week low of $43.25 and a 52 week high of $72.41. The firm has a 50-day moving average price of $50.21 and a two-hundred day moving average price of $50.08.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its 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 firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.98 billion. McCormick & Company, Incorporated had a return on equity of 12.01% and a net margin of 19.39%. The company's revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Tuesday, October 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, October 13th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 34.72%.

McCormick & Company, Incorporated Profile

McCormick & Company, Incorporated is a global manufacturer and marketer of spices, seasonings, condiments, sauces, and other flavor products. The company serves consumers through grocery, e-commerce, and foodservice channels, while also supplying flavor solutions to food manufacturers and other commercial customers.

Its consumer portfolio includes McCormick spices and seasonings, as well as brands such as French's, Frank's RedHot, Lawry's, OLD BAY, and Gourmet Garden. Its products are used in home cooking, restaurants, and packaged foods across a range of cuisines and meal occasions.

Founded by Willoughby M.

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