Sound Income Strategies LLC Purchases New Stake in McCormick & Company, Incorporated $MKC

Sound Income Strategies LLC purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 112,319 shares of the company’s stock, valued at approximately $5,160,000.

Other hedge funds have also bought and sold shares of the company. Aristotle Capital Management LLC raised its holdings in McCormick & Company, Incorporated by 231.9% during the 1st quarter. Aristotle Capital Management LLC now owns 12,664,378 shares of the company’s stock valued at $638,795,000 after acquiring an additional 8,848,235 shares during the period. XXEC Inc. purchased a new position in shares of McCormick & Company, Incorporated in the second quarter valued at $154,566,000. Diamant Asset Management Inc. grew its position in shares of McCormick & Company, Incorporated by 4,848.6% in the first quarter. Diamant Asset Management Inc. now owns 1,046,630 shares of the company’s stock valued at $52,792,000 after purchasing an additional 1,025,480 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at $64,522,000. Finally, Amundi raised its stake in shares of McCormick & Company, Incorporated by 72.5% during the 1st quarter. Amundi now owns 2,023,544 shares of the company’s stock valued at $102,068,000 after purchasing an additional 850,343 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of the firm’s stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.60% of the company’s stock.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC traded down $1.16 during mid-day trading on Friday, reaching $44.78. 3,365,341 shares of the company were exchanged, compared to its average volume of 3,995,343. McCormick & Company, Incorporated has a 52 week low of $43.25 and a 52 week high of $72.41. The company has a quick ratio of 0.33, a current ratio of 0.66 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $12.04 billion, a PE ratio of 8.10, a PEG ratio of 1.91 and a beta of 0.65. The company’s 50 day moving average price is $51.15 and its 200 day moving average price is $50.39.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, October 1st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. McCormick & Company, Incorporated had a return on equity of 12.01% and a net margin of 19.39%.The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Sell-side analysts forecast that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, October 13th. This represents a $1.92 annualized dividend and a dividend yield of 4.3%. McCormick & Company, Incorporated’s dividend payout ratio is 34.72%.

Analysts Set New Price Targets

Several brokerages have commented on MKC. Stifel Nicolaus cut their target price on McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating for the company in a research note 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 on the stock in a research report on Friday, October 2nd. JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. TD Cowen reaffirmed 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. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $59.00 target price on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.30.

McCormick & Company, Incorporated 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.