McCormick & Company, Incorporated (NYSE:MKC) Stock Falls 2.5% – Here’s What Happened

McCormick & Company, Incorporated (NYSE:MKC)’s stock price fell 2.5% on Wednesday. The company traded as low as $46.01 and last traded at $46.37. 4,043,628 shares were traded during trading, an increase of 1% from the average daily volume of 4,000,511 shares. The stock had previously closed at $47.55.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, September 18th. Deutsche Bank Aktiengesellschaft cut their target price 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. Stifel Nicolaus reduced their price target 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. TD Cowen reaffirmed a “hold” rating and issued a $48.00 price target (down from $55.00) on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. Finally, Barclays lowered their price objective on McCormick & Company, Incorporated from $55.00 to $47.00 and set an “equal weight” rating on the stock in a report on Friday, October 2nd. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.30.

McCormick & Company, Incorporated Trading Down 1.5%

The company has a 50 day moving average of $49.96 and a 200 day moving average of $50.06. 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 stock has a market capitalization of $12.91 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 1.96 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data 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 return on equity of 12.01% and a net margin of 19.39%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS 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. Stockholders of record on Tuesday, October 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, October 13th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 34.72%.

Insiders Place Their Bets

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of the business’s 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 in the company, valued at approximately $15,648,508.48. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MKC. Taylor Frigon Capital Management LLC increased its stake in shares of McCormick & Company, Incorporated by 1.3% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 24,444 shares of the company’s stock worth $1,134,000 after acquiring an additional 302 shares during the last quarter. Beaumont Financial Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $3,121,000. Inspire Investing LLC raised its holdings in shares of McCormick & Company, Incorporated by 2.1% during the 3rd quarter. Inspire Investing LLC now owns 15,040 shares of the company’s stock worth $698,000 after acquiring an additional 306 shares during the period. Yousif Capital Management LLC boosted its position in shares of 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 acquiring an additional 1,605 shares during the last quarter. Finally, MBL Wealth LLC acquired a new position in shares of McCormick & Company, Incorporated during the 3rd quarter valued at about $446,000. 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.