McCormick & Company, Incorporated (NYSE:MKC) Stock Falls 2.1% – Here’s Why

Shares of McCormick & Company, Incorporated (NYSE:MKC) traded down 2.1% during mid-day trading on Tuesday. The stock traded as low as $44.33 and last traded at $44.6220. 3,821,538 shares changed hands during trading, a decline of 4% from the average session volume of 3,995,156 shares. The stock had previously closed at $45.58.

Wall Street Analyst Weigh In

Several analysts have recently commented on MKC shares. Weiss Ratings lowered McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 9th. TD Cowen reaffirmed a “hold” rating and issued a $48.00 price objective (down from $55.00) on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. Stifel Nicolaus dropped 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. BNP Paribas Exane cut their price objective on shares of McCormick & Company, Incorporated from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, October 2nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $59.00 price target on shares of McCormick & Company, Incorporated 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.30.

McCormick & Company, Incorporated Trading Up 2.1%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.33 and a current ratio of 0.66. The company has a market capitalization of $12.30 billion, a PE ratio of 8.27, a price-to-earnings-growth ratio of 1.89 and a beta of 0.65. The company has a 50 day simple moving average of $50.72 and a 200 day simple moving average of $50.22.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, October 1st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. The firm had revenue of $2.02 billion during 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 firm’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Analysts anticipate that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.2%. The ex-dividend date is Tuesday, October 13th. McCormick & Company, Incorporated’s dividend payout ratio is presently 34.72%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of McCormick & Company, Incorporated stock in a transaction dated 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 transaction, the insider directly owned 296,992 shares of the company’s stock, valued at $15,648,508.48. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.60% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Several hedge funds have recently made changes to their positions in the company. Investors Research Corp purchased a new position in McCormick & Company, Incorporated in the second quarter worth approximately $1,152,000. Hsbc Holdings PLC grew its holdings in McCormick & Company, Incorporated by 10.4% during the 4th quarter. Hsbc Holdings PLC now owns 500,292 shares of the company’s stock worth $34,086,000 after acquiring an additional 47,119 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at approximately $11,882,000. Trust Co. of Vermont purchased a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at approximately $1,331,000. Finally, XXEC Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $154,566,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company 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.