McCormick & Company, Incorporated (NYSE:MKC) Shares Down 2.5% – What’s Next?

by · The Markets Daily

Shares of McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) were down 2.5% during mid-day trading on Wednesday. The company traded as low as $46.01 and last traded at $46.37. 4,043,628 shares changed hands during trading, an increase of 1% from the average session volume of 4,000,511 shares. The stock had previously closed at $47.55.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus dropped their price target on McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating on the stock in a research report on Friday, October 2nd. UBS Group lowered their price objective on McCormick & Company, Incorporated from $52.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $59.00 price target on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their target price 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. Finally, BNP Paribas Exane decreased their target price on shares of McCormick & Company, Incorporated from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, October 2nd. 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $55.30.

Check Out Our Latest Report on McCormick & Company, Incorporated

McCormick & Company, Incorporated Price Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 0.66 and a quick ratio of 0.33. The stock has a 50 day simple moving average of $50.21 and a two-hundred day simple moving average of $50.08. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 1.94 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last posted 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. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.98 billion. McCormick & Company, Incorporated had a return on equity of 12.01% and a net margin of 19.39%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, equities research analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. McCormick & Company, Incorporated’s payout ratio is 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 shares were sold at an average price of $52.69, for a total value of $10,829,797.22. Following the sale, the insider directly owned 296,992 shares of the company’s stock, valued at approximately $15,648,508.48. This represents a 40.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 10.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Aristotle Capital Management LLC raised its position 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 worth $638,795,000 after buying an additional 8,848,235 shares during the last quarter. XXEC Inc. acquired a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $154,566,000. Amundi boosted its stake in shares of McCormick & Company, Incorporated by 72.5% during the first quarter. Amundi now owns 2,023,544 shares of the company’s stock valued at $102,068,000 after acquiring an additional 850,343 shares during the last quarter. Diamant Asset Management Inc. raised its stake in McCormick & Company, Incorporated by 4,848.6% in the 1st 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 during the last quarter. Finally, Epoch Investment Partners Inc. raised its position in shares of McCormick & Company, Incorporated by 29.1% in the first quarter. Epoch Investment Partners Inc. now owns 939,542 shares of the company’s stock valued at $47,390,000 after buying an additional 211,763 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company Profile

(Get Free Report)

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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