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

McCormick & Company, Incorporated (NYSE:MKC) released its quarterly earnings data on Thursday. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04, RTT News reports. McCormick & Company, Incorporated had a return on equity of 14.58% and a net margin of 11.50%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm posted $0.69 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. McCormick & Company, Incorporated updated its FY 2025 guidance to 3.030-3.080 EPS.

McCormick & Company, Incorporated Stock Down 1.4%

Shares of NYSE MKC opened at $76.48 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.25 and a current ratio of 0.65. McCormick & Company, Incorporated has a 52 week low of $69.00 and a 52 week high of $86.24. The stock has a market capitalization of $20.51 billion, a P/E ratio of 26.56, a PEG ratio of 3.88 and a beta of 0.68. The stock’s fifty day moving average is $74.35 and its 200 day moving average is $76.70.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated’s payout ratio is currently 61.86%.

Analysts Set New Price Targets

MKC has been the topic of a number of recent research reports. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Citigroup lowered their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 17th. Finally, UBS Group initiated coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a “neutral” rating and a $83.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.13.

Insider Buying and Selling

In related news, Director Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the sale, the director now directly owns 247,437 shares of the company’s stock, valued at $20,242,820.97. This trade represents a 16.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Katherine Jenkins sold 7,642 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total value of $583,695.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,392 shares of company stock worth $4,898,101. Company insiders own 23.80% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

Several large investors have recently bought and sold shares of MKC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 buying an additional 925 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of McCormick & Company, Incorporated by 19.0% during the first 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. Finally, Woodline Partners LP boosted its stake in shares of McCormick & Company, Incorporated by 40.9% during the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock valued at $1,756,000 after purchasing an additional 6,189 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

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.