Shares of McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) dropped 1% during mid-day trading on Monday. The stock traded as low as $45.68 and last traded at $45.8730. 3,280,870 shares were traded during trading, a decline of 18% from the average session volume of 4,009,108 shares. The stock had previously closed at $46.35.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Weiss Ratings lowered shares of McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 9th. JPMorgan Chase & Co. decreased their price objective on McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, September 18th. Barclays decreased their price objective on McCormick & Company, Incorporated from $55.00 to $47.00 and set an “equal weight” rating for the company in a report on Friday, October 2nd. TD Cowen reaffirmed a “hold” rating and set a $48.00 target price (down from $55.00) on shares of McCormick & Company, Incorporated in a research report on Friday, October 2nd. Finally, Stifel Nicolaus cut their target price on McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of “Hold” and an average price target of $55.30.
Check Out Our Latest Research Report on MKC
McCormick & Company, Incorporated Stock Performance
The stock has a 50 day moving average of $50.46 and a 200 day moving average of $50.11. The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 1.96 and a beta of 0.65. The company has a quick ratio of 0.33, a current ratio of 0.66 and a debt-to-equity ratio of 0.38.
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last released its earnings results on Thursday, October 1st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. As a group, analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current 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 paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, October 13th. McCormick & Company, Incorporated’s dividend payout ratio is currently 34.72%.
Insider Activity at McCormick & Company, Incorporated
In other news, major shareholder Lawrence Kurzius sold 205,538 shares of the stock in a transaction on Monday, August 10th. The shares were 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 in the company, valued at $15,648,508.48. This represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.60% of the company’s stock.
Hedge Funds Weigh In On McCormick & Company, Incorporated
Hedge funds and other institutional investors have recently bought and sold shares of the company. Dorato Capital Management lifted its stake in shares of McCormick & Company, Incorporated by 5.4% in the third quarter. Dorato Capital Management now owns 4,588 shares of the company’s stock valued at $208,000 after buying an additional 235 shares in the last quarter. CoreCap Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 16.4% in the 3rd quarter. CoreCap Advisors LLC now owns 1,738 shares of the company’s stock worth $81,000 after acquiring an additional 245 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of McCormick & Company, Incorporated by 3.6% in the 2nd quarter. QRG Capital Management Inc. now owns 8,302 shares of the company’s stock worth $419,000 after acquiring an additional 292 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of McCormick & Company, Incorporated by 3.4% in the 2nd quarter. Empirical Finance LLC now owns 8,886 shares of the company’s stock worth $448,000 after acquiring an additional 293 shares during the last quarter. Finally, Eastern Bank lifted its position in McCormick & Company, Incorporated by 39.6% in the 3rd quarter. Eastern Bank now owns 1,057 shares of the company’s stock valued at $49,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.
McCormick & Company, Incorporated Company 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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