McCormick & Company, Incorporated (NYSE:MKC) Stock Price Down 1.3% – Here’s Why

McCormick & Company, Incorporated (NYSE:MKC)’s share price was down 1.3% on Friday. The company traded as low as $47.53 and last traded at $48.1010. 3,044,808 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 4,000,086 shares. The stock had previously closed at $48.71.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MKC. BNP Paribas Exane decreased their target price on shares of McCormick & Company, Incorporated from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on 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. UBS Group cut their price objective on McCormick & Company, Incorporated from $52.00 to $48.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Sanford C. Bernstein reissued an “outperform” rating and set a $59.00 price objective on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. Finally, Weiss Ratings lowered McCormick & Company, Incorporated from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.30.

McCormick & Company, Incorporated Price Performance

The company has a 50 day moving average price of $49.83 and a 200-day moving average price of $50.05. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 2.03 and a beta of 0.65. The company has a quick ratio of 0.33, a current ratio of 0.66 and a debt-to-equity ratio of 0.38.

McCormick & Company, Incorporated (NYSE:MKC) last posted its earnings results on Thursday, October 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. McCormick & Company, Incorporated had a net margin of 19.39% and a return on equity of 12.01%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the company earned $0.85 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. As a group, equities research analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 34.72%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of the stock in a transaction on Monday, August 10th. The stock was 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 directly owned 296,992 shares in the company, valued at $15,648,508.48. This represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MKC. Sigma Planning Corp lifted its holdings in McCormick & Company, Incorporated by 6.9% in the third quarter. Sigma Planning Corp now owns 4,958 shares of the company’s stock valued at $230,000 after buying an additional 318 shares during the period. Signaturefd LLC grew its holdings in McCormick & Company, Incorporated by 77.0% during the 3rd quarter. Signaturefd LLC now owns 4,732 shares of the company’s stock worth $220,000 after acquiring an additional 2,058 shares during the period. Citizens Financial Group Inc. RI grew its holdings in McCormick & Company, Incorporated by 153.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 14,434 shares of the company’s stock worth $670,000 after acquiring an additional 8,734 shares during the period. Taylor Frigon Capital Management LLC raised its position in shares of McCormick & Company, Incorporated by 1.3% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 24,444 shares of the company’s stock worth $1,134,000 after acquiring an additional 302 shares in the last quarter. Finally, Beaumont Financial Advisors LLC bought a new position in shares of McCormick & Company, Incorporated in the 3rd quarter worth about $3,121,000. 79.74% of the stock is owned by institutional investors and hedge funds.

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.