McCormick & Company, Incorporated (NYSE:MKC) Shares Up 5% – Here’s Why

McCormick & Company, Incorporated (NYSE:MKC) rose 5% during trading on Thursday. The stock traded as high as $48.71 and last traded at $48.6350. Approximately 4,670,773 shares were traded during trading, an increase of 16% from the average session volume of 4,009,954 shares. The stock had previously closed at $46.32.

Analyst Upgrades and Downgrades

MKC has been the topic of several recent analyst reports. UBS Group dropped their price target on McCormick & Company, Incorporated from $52.00 to $48.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Stifel Nicolaus reduced their price objective on shares of McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating for the company in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McCormick & Company, Incorporated from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, September 21st. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $55.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, October 2nd. Finally, Weiss Ratings lowered shares of McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 9th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, McCormick & Company, Incorporated has an average rating of “Hold” and an average price target of $55.30.

McCormick & Company, Incorporated Stock Performance

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 50 day moving average price of $49.96 and a 200 day moving average price of $50.06. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 8.79, a P/E/G ratio of 2.01 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Thursday, October 1st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. The business 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 firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Equities research analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

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 dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, October 13th. McCormick & Company, Incorporated’s payout ratio is 34.72%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of the company’s 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 transaction, the insider owned 296,992 shares in the company, valued at approximately $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 accessible through this hyperlink. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Yousif Capital Management LLC boosted its stake in McCormick & Company, Incorporated by 1.3% during the 3rd quarter. Yousif Capital Management LLC now owns 121,849 shares of the company’s stock valued at $5,654,000 after purchasing an additional 1,605 shares during the last quarter. MBL Wealth LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 3rd quarter valued at $446,000. Indiana Trust & Investment Management Co purchased a new stake in McCormick & Company, Incorporated during the third quarter worth about $89,000. SBI Securities Co. Ltd. increased its holdings in McCormick & Company, Incorporated by 66.7% during the third quarter. SBI Securities Co. Ltd. now owns 5,125 shares of the company’s stock worth $238,000 after buying an additional 2,051 shares during the last quarter. Finally, Cardinal Capital Management increased its holdings in McCormick & Company, Incorporated by 7.8% during the third quarter. Cardinal Capital Management now owns 123,340 shares of the company’s stock worth $5,723,000 after buying an additional 8,896 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

About McCormick & Company, Incorporated

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.