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

McCormick & Company, Incorporated (NYSE:MKC) announced its earnings results on Tuesday. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04), Briefing.com reports. McCormick & Company, Incorporated had a return on equity of 14.89% and a net margin of 11.73%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. McCormick & Company, Incorporated updated its FY25 guidance to $3.03-3.08 EPS.

McCormick & Company, Incorporated Stock Up 0.2 %

MKC stock opened at $80.35 on Tuesday. McCormick & Company, Incorporated has a one year low of $66.88 and a one year high of $86.24. The firm has a market cap of $21.54 billion, a PE ratio of 27.42, a PEG ratio of 3.76 and a beta of 0.71. The firm’s 50 day moving average price is $78.58 and its 200-day moving average price is $78.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

Insider Buying and Selling

In other news, Director Margaret M. V. Preston sold 28,092 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the transaction, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. TD Cowen upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays decreased their target price on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their price target on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.75.

About McCormick & Company, Incorporated

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.