McCormick & Company, Incorporated (NYSE:MKC) Stock Falls 1.9% – What’s Next?

McCormick & Company, Incorporated (NYSE:MKC)’s stock price dropped 1.9% during trading on Tuesday. The company traded as low as $47.72 and last traded at $47.9030. 2,801,948 shares changed hands during trading, a decline of 29% from the average daily volume of 3,973,397 shares. The stock had previously closed at $48.82.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays cut their price target on McCormick & Company, Incorporated from $55.00 to $47.00 and set an “equal weight” rating for the company in a research note on Friday, October 2nd. Weiss Ratings upgraded McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. dropped their price objective on McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, September 18th. BNP Paribas Exane cut their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on 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. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.30.

McCormick & Company, Incorporated Stock Down 0.7%

The firm has a market cap of $13.48 billion, a PE ratio of 15.87, a PEG ratio of 2.13 and a beta of 0.66. The business’s 50 day moving average price is $48.61 and its 200 day moving average price is $53.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.66 and a quick ratio of 0.33.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly 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. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. McCormick & Company, Incorporated had a net margin of 19.39% and a return on equity of 12.01%. McCormick & Company, Incorporated’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, equities research analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, October 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.8%. McCormick & Company, Incorporated’s dividend payout ratio is presently 34.72%.

Insider Activity

In other news, major shareholder Lawrence Kurzius sold 205,538 shares of the stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.60% of the stock is owned by insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CFS Investment Advisory Services LLC increased its holdings in McCormick & Company, Incorporated by 2.8% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 8,130 shares of the company’s stock valued at $369,000 after purchasing an additional 224 shares during the last quarter. Dorato Capital Management raised its position in 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 purchasing an additional 235 shares during the period. CoreCap Advisors LLC raised its position in McCormick & Company, Incorporated by 16.4% in the third quarter. CoreCap Advisors LLC now owns 1,738 shares of the company’s stock valued at $81,000 after purchasing an additional 245 shares during the period. North Dakota State Investment Board lifted its stake in McCormick & Company, Incorporated by 3.5% during the third quarter. North Dakota State Investment Board now owns 7,796 shares of the company’s stock worth $362,000 after purchasing an additional 266 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in McCormick & Company, Incorporated by 3.6% during the second quarter. QRG Capital Management Inc. now owns 8,302 shares of the company’s stock worth $419,000 after purchasing an additional 292 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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.