McCormick & Company, Incorporated (NYSE:MKC) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

McCormick & Company, Incorporated (NYSE:MKC) issued its earnings results on Thursday. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04, RTT News reports. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.67%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $0.69 EPS. McCormick & Company, Incorporated updated its FY 2025 guidance to 3.030-3.080 EPS.

McCormick & Company, Incorporated Stock Down 1.4%

Shares of NYSE:MKC opened at $73.65 on Thursday. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The firm’s 50 day moving average price is $74.28 and its 200 day moving average price is $76.75. The company has a quick ratio of 0.25, a current ratio of 0.65 and a debt-to-equity ratio of 0.57. The stock has a market cap of $19.75 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 3.76 and a beta of 0.68.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Monday, July 7th. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.86%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MKC. Citigroup lowered their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Tuesday, June 17th. UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a “neutral” rating and a $83.00 price target for the company. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $84.13.

Insider Activity at McCormick & Company, Incorporated

In other news, insider Katherine Jenkins sold 7,642 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now directly owns 247,437 shares in the company, valued at $20,242,820.97. This trade represents a 16.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock valued at $4,898,101 over the last quarter. 23.80% of the stock is owned by insiders.

Institutional Trading of McCormick & Company, Incorporated

Several institutional investors and hedge funds have recently made changes to their positions in MKC. Woodline Partners LP raised its position in McCormick & Company, Incorporated by 40.9% in the 1st quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock valued at $1,756,000 after purchasing an additional 6,189 shares during the last quarter. Empowered Funds LLC increased its stake in McCormick & Company, Incorporated by 19.0% in the first quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock valued at $486,000 after purchasing an additional 941 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in McCormick & Company, Incorporated by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock valued at $2,854,000 after purchasing an additional 925 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.