McCormick & Company, Incorporated $MKC Stock: Viking Fund Management LLC Increases Holdings

Viking Fund Management LLC boosted its position in McCormick & Company, Incorporated (NYSE:MKC) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 368,000 shares of the company’s stock after purchasing an additional 33,000 shares during the period. McCormick & Company, Incorporated comprises approximately 1.4% of Viking Fund Management LLC’s holdings, making the stock its 18th largest position. Viking Fund Management LLC’s holdings in McCormick & Company, Incorporated were worth $17,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MKC. Sanders Morris Harris LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at approximately $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 3rd 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 during the period. Sound Income Strategies LLC acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $5,160,000. Finally, GK Wealth Management LLC acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $57,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Performance

Shares of MKC opened at $44.83 on Thursday. McCormick & Company, Incorporated has a 12-month low of $43.25 and a 12-month high of $72.41. The stock has a market cap of $12.06 billion, a P/E ratio of 14.04, a PEG ratio of 1.89 and a beta of 0.65. The company has a current ratio of 0.66, a quick ratio of 0.33 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $50.72 and a two-hundred day moving average of $50.22.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Thursday, October 1st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. McCormick & Company, Incorporated had a net margin of 19.39% and a return on equity of 12.01%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the business earned $0.85 earnings per share. The company’s quarterly 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. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. TD Cowen reiterated a “hold” rating and issued a $48.00 price target (down from $55.00) on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. UBS Group reduced their price objective 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. JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. 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. Finally, Weiss Ratings cut McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Five research 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. Based on data from MarketBeat, McCormick & Company, Incorporated has a consensus rating of “Hold” and an average price target of $55.30.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of the stock in a transaction 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 sale, the insider owned 296,992 shares in the company, valued at approximately $15,648,508.48. This represents a 40.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.60% of the company’s stock.

About McCormick & Company, Incorporated

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.