McCormick & Company, Incorporated (NYSE:MKC) Cut to “Hold” at TD Cowen

TD Cowen cut shares of McCormick & Company, Incorporated (NYSE:MKC) from a buy rating to a hold rating in a research report report published on Monday morning, MarketBeat reports. They currently have $55.00 price objective on the stock, down from their previous price objective of $60.00.

Several other research analysts also recently commented on MKC. Deutsche Bank Aktiengesellschaft increased their price objective on McCormick & Company, Incorporated from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Sanford C. Bernstein lowered their target price on shares of McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, June 26th. Jefferies Financial Group dropped their target price on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Weiss Ratings upgraded shares of McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. Finally, Barclays decreased their price target on shares of McCormick & Company, Incorporated from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.00.

McCormick & Company, Incorporated Trading Up 0.5%

MKC stock opened at $50.09 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.39 and a debt-to-equity ratio of 0.48. McCormick & Company, Incorporated has a 12-month low of $44.82 and a 12-month high of $72.41. The stock has a market cap of $13.47 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 1.96 and a beta of 0.64. The business’s 50-day moving average is $52.73 and its 200 day moving average is $52.04.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. McCormick & Company, Incorporated had a return on equity of 12.78% and a net margin of 21.91%.The business’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, sell-side analysts anticipate that McCormick & Company, Incorporated will post 3.08 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 6th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.92 annualized dividend and a dividend yield of 3.8%. McCormick & Company, Incorporated’s payout ratio is presently 31.95%.

Insider Activity

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider owned 296,992 shares of the company’s stock, valued at approximately $15,648,508.48. This 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 this link. Corporate insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 78.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,729 shares of the company’s stock valued at $541,000 after buying an additional 4,705 shares during the period. Tidal Investments LLC raised its position in shares of McCormick & Company, Incorporated by 71.9% during the 2nd quarter. Tidal Investments LLC now owns 61,954 shares of the company’s stock valued at $3,124,000 after buying an additional 25,922 shares during the period. National Pension Service purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at approximately $1,726,000. NewEdge Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 110.5% in the second quarter. NewEdge Advisors LLC now owns 45,868 shares of the company’s stock valued at $2,313,000 after acquiring an additional 24,076 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in McCormick & Company, Incorporated by 21.1% in the second quarter. Allworth Financial LP now owns 11,432 shares of the company’s stock valued at $576,000 after acquiring an additional 1,991 shares during the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE:MKC) is a global food company that manufactures, markets and distributes spices, herbs, seasonings, condiments, sauces and other flavoring products. Its portfolio serves both retail consumers and foodservice customers, while its flavor solutions business supplies seasoning blends, natural flavors and other ingredients to food manufacturers and restaurant operators.

The company’s consumer brands include McCormick, French’s, Frank’s RedHot, Lawry’s, Old Bay and Gourmet Garden, among others.