McCormick & Company, Incorporated (NYSE:MKC) Stock Falls 3.1% – What’s Next?

McCormick & Company, Incorporated (NYSE:MKC) shares traded down 3.1% on Wednesday. The company traded as low as $45.40 and last traded at $46.0140. 4,430,446 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 3,988,568 shares. The stock had previously closed at $47.48.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased 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 cut their price target on McCormick & Company, Incorporated from $55.00 to $48.00 and set a “hold” rating on the stock in a research note on Friday, October 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $59.00 price objective on shares of McCormick & Company, Incorporated in a research report on Friday, October 2nd. TD Cowen reaffirmed a “hold” rating and set a $48.00 price objective (down from $55.00) on shares of McCormick & Company, Incorporated in a research report on Friday, October 2nd. Finally, Weiss Ratings upgraded McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.30.

McCormick & Company, Incorporated Stock Up 1.2%

The company has a market cap of $12.74 billion, a P/E ratio of 8.56, a P/E/G ratio of 1.95 and a beta of 0.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.66 and a quick ratio of 0.33. The company’s 50-day moving average is $49.08 and its two-hundred day moving average is $53.54.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, October 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the firm posted $0.85 EPS. The firm’s quarterly 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 analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, October 13th. McCormick & Company, Incorporated’s payout ratio is presently 34.72%.

Insiders Place Their Bets

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $52.69, for a total value of $10,829,797.22. Following the sale, the insider owned 296,992 shares in the company, valued at approximately $15,648,508.48. This trade represents a 40.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of hedge funds have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC bought a new stake in McCormick & Company, Incorporated during the 2nd quarter worth approximately $25,000. Byrne Asset Management LLC purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth approximately $30,000. Ancora Advisors LLC bought a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at approximately $34,000. Essential Partners LLC increased its position in McCormick & Company, Incorporated by 146.5% in the first quarter. Essential Partners LLC now owns 742 shares of the company’s stock worth $37,000 after purchasing an additional 441 shares during the last quarter. Finally, Provenance Wealth Advisors LLC bought a new stake in McCormick & Company, Incorporated in the third quarter worth $42,000. 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.