McCormick & Company, Incorporated (NYSE:MKC) Shares Climb 3.3% – Here’s Why

McCormick & Company, Incorporated (NYSE:MKC)’s share price traded up 3.3% during mid-day trading on Monday. The company traded as high as $48.90 and last traded at $48.8710. Approximately 3,276,691 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 3,983,374 shares. The stock had previously closed at $47.29.

Wall Street Analysts Forecast Growth

MKC has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, September 18th. Weiss Ratings upgraded shares of McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 23rd. UBS Group lowered their target price on shares of McCormick & Company, Incorporated from $52.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Stifel Nicolaus cut their price objective 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. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $59.00 price target on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.30.

McCormick & Company, Incorporated Price 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 stock has a market cap of $13.15 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 2.00 and a beta of 0.66. The company has a 50-day moving average of $49.08 and a 200-day moving average of $53.54.

McCormick & Company, Incorporated (NYSE:MKC) last released its earnings results on Thursday, October 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. McCormick & Company, Incorporated had a net margin of 19.39% and a return on equity of 12.01%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the business earned $0.85 EPS. The business’s revenue 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. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, October 13th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 34.72%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $52.69, for a total value of $10,829,797.22. Following the sale, the insider directly owned 296,992 shares in the company, valued at $15,648,508.48. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several institutional investors have recently made changes to their positions in MKC. Investors Research Corp purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $1,152,000. Trust Co. of Vermont purchased a new position in McCormick & Company, Incorporated during the second quarter worth approximately $1,331,000. XXEC Inc. acquired a new position in McCormick & Company, Incorporated in the second quarter valued at $154,566,000. Rockland Trust Co. raised its holdings in shares of McCormick & Company, Incorporated by 6.2% in the 3rd quarter. Rockland Trust Co. now owns 393,414 shares of the company’s stock worth $18,254,000 after purchasing an additional 22,991 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in McCormick & Company, Incorporated during the first quarter worth approximately $2,955,000. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

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.