150,000 Shares in McCormick & Company, Incorporated $MKC Bought by Viking Fund Management LLC

Viking Fund Management LLC purchased a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,000 shares of the company’s stock, valued at approximately $10,036,000. McCormick & Company, Incorporated makes up approximately 1.2% of Viking Fund Management LLC’s portfolio, making the stock its 24th largest position. Viking Fund Management LLC owned 0.06% of McCormick & Company, Incorporated at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MKC. Capital Analysts LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $26,000. Bank of Jackson Hole Trust bought a new stake in McCormick & Company, Incorporated in the second quarter valued at about $25,000. Elevation Point Wealth Partners LLC bought a new stake in McCormick & Company, Incorporated in the second quarter valued at about $27,000. Anfield Capital Management LLC raised its stake in McCormick & Company, Incorporated by 161.3% during the second quarter. Anfield Capital Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 242 shares in the last quarter. Finally, Curio Wealth LLC lifted its holdings in McCormick & Company, Incorporated by 39,900.0% during the 2nd quarter. Curio Wealth LLC now owns 400 shares of the company’s stock worth $30,000 after buying an additional 399 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MKC. Barclays lowered their price target on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Sanford C. Bernstein reiterated an “outperform” rating and set a $87.00 target price on shares of McCormick & Company, Incorporated in a research note on Thursday, December 11th. Stifel Nicolaus dropped their target price on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Finally, Deutsche Bank Aktiengesellschaft raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Monday, December 15th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.00.

McCormick & Company, Incorporated Stock Performance

MKC stock opened at $68.64 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. The stock has a market capitalization of $18.42 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 4.54 and a beta of 0.62. McCormick & Company, Incorporated has a 1 year low of $62.64 and a 1 year high of $86.24. The stock’s fifty day moving average is $66.01 and its two-hundred day moving average is $69.11.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, research analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be paid a $0.48 dividend. The ex-dividend date is Monday, December 29th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 2.8%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 62.28%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, CEO Brendan M. Foley sold 57,144 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the sale, the chief executive officer owned 108,652 shares of the company’s stock, valued at $7,123,225.12. The trade was a 34.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total value of $2,517,963.56. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 146,158 shares of company stock worth $9,557,324. Corporate insiders own 23.80% of the company’s stock.

McCormick & Company, Incorporated 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.