McCormick & Company, Incorporated (NYSE:MKC) Sets New 1-Year Low After Earnings Miss

McCormick & Company, Incorporated (NYSE:MKC) shares reached a new 52-week low during mid-day trading on Thursday following a dissappointing 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.84 billion. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS.

McCormick & Company, Incorporated Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were given a dividend of $0.48 per share. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, December 29th. McCormick & Company, Incorporated’s payout ratio is currently 66.44%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MKC. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Stifel Nicolaus reduced their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. UBS Group lowered their target price on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Sanford C. Bernstein restated an “outperform” rating and issued a $87.00 target price on shares of McCormick & Company, Incorporated in a research report on Thursday, December 11th. Finally, Jefferies Financial Group upped their price objective on McCormick & Company, Incorporated from $78.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $76.63.

Insider Activity

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated 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 sale, the insider directly owned 246,762 shares in the company, valued at $16,639,161.66. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brendan M. Foley sold 57,144 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total transaction of $3,746,360.64. Following the sale, the chief executive officer owned 108,652 shares of the company’s stock, valued at $7,123,225.12. This trade represents a 34.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 146,158 shares of company stock worth $9,635,824. Insiders own 23.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. 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 acquiring an additional 925 shares during the period. Empowered Funds LLC boosted its stake in shares of McCormick & Company, Incorporated by 19.0% in the 1st quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock valued at $486,000 after purchasing an additional 941 shares in the last quarter. Woodline Partners LP grew its holdings in shares of McCormick & Company, Incorporated by 40.9% in the 1st quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock worth $1,756,000 after purchasing an additional 6,189 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in McCormick & Company, Incorporated by 2.5% in the second quarter. Exchange Traded Concepts LLC now owns 13,381 shares of the company’s stock valued at $1,015,000 after buying an additional 332 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in McCormick & Company, Incorporated by 3.1% during the second quarter. Assenagon Asset Management S.A. now owns 12,802 shares of the company’s stock worth $971,000 after buying an additional 380 shares during the last quarter. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Trading Down 5.0%

The company’s fifty day moving average price is $66.91 and its two-hundred day moving average price is $67.96. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The company has a market cap of $16.97 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 4.07 and a beta of 0.62.

McCormick & Company, Incorporated Company Profile

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.