McCormick & Company, Incorporated $MKC Stock Purchased by Viking Fund Management LLC

Key Points

• Viking Fund Management increased its McCormick stake by 9.9% in the third quarter, acquiring 33,000 additional shares for a total of 368,000 shares valued at approximately $17.1 million. Institutional investors collectively own 79.74% of MKC.
• McCormick reported quarterly EPS of $0.86, exceeding estimates by $0.10, while revenue rose 17.4% year over year to $2.02 billion. The company also declared a quarterly dividend of $0.48, representing a 4.3% annualized yield.
• MKC shares opened at $44.83, near their 52-week low, while analysts hold a consensus “Hold” rating and an average price target of $55.30.

Viking Fund Management LLC raised its position in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 9.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 368,000 shares of the company's stock after acquiring an additional 33,000 shares during the quarter. McCormick & Company, Incorporated makes up about 1.4% of Viking Fund Management LLC's holdings, making the stock its 18th biggest holding. Viking Fund Management LLC owned about 0.14% of McCormick & Company, Incorporated worth $17,075,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanders Morris Harris LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $204,000. First Citizens Bank & Trust Co. purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter worth $645,000. Fluent Financial LLC grew its stake in shares of McCormick & Company, Incorporated by 13.1% during the third quarter. Fluent Financial LLC now owns 31,822 shares of the company's stock worth $1,477,000 after purchasing an additional 3,689 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth $5,160,000. Finally, GK Wealth Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the third quarter worth $57,000. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Stock Performance

NYSE MKC opened at $44.83 on Thursday. The company has a fifty day moving average of $50.72 and a two-hundred day moving average of $50.22. The company has a market capitalization of $12.06 billion, a PE ratio of 14.04, a P/E/G ratio of 1.89 and a beta of 0.65. McCormick & Company, Incorporated has a 1 year low of $43.25 and a 1 year high of $72.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.66 and a quick ratio of 0.33.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.10. The firm had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $1.98 billion. McCormick & Company, Incorporated had a return on equity of 12.01% and a net margin of 19.39%. The business's revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. As a group, analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, October 13th. McCormick & Company, Incorporated's dividend payout ratio is presently 34.72%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $52.69, for a total transaction of $10,829,797.22. Following the completion of the sale, the insider directly owned 296,992 shares of the company's stock, valued at approximately $15,648,508.48. This trade represents a 40.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.60% of the stock is owned by company insiders.

Analyst Ratings Changes

MKC has been the topic of several recent analyst reports. Sanford C. Bernstein reissued an "outperform" rating and issued a $59.00 target price on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on McCormick & Company, Incorporated from $60.00 to $59.00 and set a "buy" rating for the company in a report on Monday, September 21st. Barclays lowered their price objective on McCormick & Company, Incorporated from $55.00 to $47.00 and set an "equal weight" rating for the company in a research report on Friday, October 2nd. BNP Paribas Exane dropped their price objective on McCormick & Company, Incorporated from $75.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, October 2nd. Finally, UBS Group cut their target price on McCormick & Company, Incorporated from $52.00 to $48.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus target price of $55.30.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated is a global producer and marketer of spices, herbs, seasonings, condiments, sauces and other flavor products. The company sells branded products to consumers through grocery stores, e-commerce channels and other retail outlets, while also supplying customized flavor solutions, ingredients and seasonings to food manufacturers, restaurants and foodservice operators.

Its portfolio includes the McCormick, French's, Frank's RedHot, Lawry's, OLD BAY, Zatarain's, Grill Mates and Cholula brands, among others.

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