McCormick & Company, Incorporated (NYSE:MKC) Sets New 52-Week Low Following Weak Earnings

McCormick & Company, Incorporated (NYSE:MKCGet Free Report)’s stock price reached a new 52-week low on Thursday following a weaker than expected earnings announcement. The company traded as low as $62.26 and last traded at $63.42, with a volume of 123664 shares trading hands. The stock had previously closed at $66.56.

The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business earned $0.80 EPS. McCormick & Company, Incorporated’s revenue for the quarter was up 2.9% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, December 29th. McCormick & Company, Incorporated’s payout ratio is currently 66.44%.

Key McCormick & Company, Incorporated News

Here are the key news stories impacting McCormick & Company, Incorporated this week:

Analyst Ratings Changes

MKC has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued an “outperform” rating and issued a $87.00 price target on shares of McCormick & Company, Incorporated in a report on Thursday, December 11th. Weiss Ratings restated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Barclays lowered their price target on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Stifel Nicolaus cut their price objective on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their target price on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.63.

Read Our Latest Analysis on McCormick & Company, Incorporated

Insider Buying and Selling

In other news, CEO Brendan M. Foley sold 57,144 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the transaction, the chief executive officer owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. This represents a 34.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $67.43, for a total value of $3,371,500.00. Following the completion of the transaction, the insider owned 246,762 shares of the company’s stock, valued at approximately $16,639,161.66. The trade was a 16.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 146,158 shares of company stock worth $9,635,824 in the last quarter. Company insiders own 23.80% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth about $689,000. Capital Investment Advisory Services LLC increased its stake in shares of McCormick & Company, Incorporated by 3.2% during the fourth quarter. Capital Investment Advisory Services LLC now owns 6,503 shares of the company’s stock valued at $443,000 after purchasing an additional 203 shares in the last quarter. Savvy Advisors Inc. increased its stake in shares of McCormick & Company, Incorporated by 10.1% during the fourth quarter. Savvy Advisors Inc. now owns 10,676 shares of the company’s stock valued at $727,000 after purchasing an additional 978 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of McCormick & Company, Incorporated by 0.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 102,250 shares of the company’s stock valued at $6,964,000 after purchasing an additional 644 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of McCormick & Company, Incorporated by 95.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,141 shares of the company’s stock worth $282,000 after purchasing an additional 2,026 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Price Performance

The company has a current ratio of 0.71, a quick ratio of 0.29 and a debt-to-equity ratio of 0.54. The company has a market cap of $16.43 billion, a PE ratio of 21.18, a P/E/G ratio of 4.00 and a beta of 0.62. The firm has a 50 day moving average of $66.82 and a two-hundred day moving average of $67.92.

McCormick & Company, Incorporated Company Profile

(Get Free Report)

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.

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