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

McCormick & Company, Incorporated (NYSE:MKC) posted its quarterly earnings results on Tuesday. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04, Zacks reports. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. During the same period in the prior year, the firm earned $0.83 earnings per share. McCormick & Company, Incorporated updated its FY 2025 guidance to 3.000-3.050 EPS.

McCormick & Company, Incorporated Stock Down 0.9%

MKC stock opened at $68.30 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24. The company has a fifty day simple moving average of $68.95 and a 200 day simple moving average of $72.74. The firm has a market cap of $18.33 billion, a PE ratio of 23.72, a PEG ratio of 3.42 and a beta of 0.63.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.6%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 62.50%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC lifted its position in shares of McCormick & Company, Incorporated by 25.5% in the second quarter. Advisory Services Network LLC now owns 4,887 shares of the company’s stock worth $345,000 after buying an additional 993 shares during the last quarter. Nomura Holdings Inc. increased its holdings in shares of McCormick & Company, Incorporated by 101.7% during the 2nd quarter. Nomura Holdings Inc. now owns 5,462 shares of the company’s stock valued at $414,000 after acquiring an additional 324,677 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of McCormick & Company, Incorporated by 24.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,071 shares of the company’s stock valued at $157,000 after acquiring an additional 411 shares in the last quarter. Parr Mcknight Wealth Management Group LLC lifted its holdings in McCormick & Company, Incorporated by 2.6% in the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 16,869 shares of the company’s stock worth $1,279,000 after purchasing an additional 427 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in McCormick & Company, Incorporated during the second quarter worth approximately $64,000. 79.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MKC has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Citigroup lowered their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, June 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of McCormick & Company, Incorporated in a report on Saturday, September 27th. Stifel Nicolaus reduced their price objective on McCormick & Company, Incorporated from $82.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, July 29th. Finally, Wall Street Zen downgraded McCormick & Company, Incorporated from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $80.29.

McCormick & Company, Incorporated Company Profile

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.