McCormick & Company, Incorporated (NYSE:MKC) Stock Price Up 1.6% – Here’s What Happened

Shares of McCormick & Company, Incorporated (NYSE:MKC) shot up 1.6% during trading on Thursday. The company traded as high as $46.87 and last traded at $46.7980. Approximately 2,350,742 shares traded hands during trading, a decline of 41% from the average daily volume of 3,985,240 shares. The stock had previously closed at $46.06.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings raised McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 23rd. JPMorgan Chase & Co. cut their target price on McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. Sanford C. Bernstein restated an “outperform” rating and set a $59.00 target price on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. TD Cowen reiterated a “hold” rating and issued a $48.00 price target (down from $55.00) on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. Finally, Barclays dropped their target price on shares of McCormick & Company, Incorporated from $55.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.30.

McCormick & Company, Incorporated Stock Up 1.2%

The company has a market capitalization of $12.74 billion, a PE ratio of 8.56, a P/E/G ratio of 1.98 and a beta of 0.65. The company has a current ratio of 0.66, a quick ratio of 0.33 and a debt-to-equity ratio of 0.38. The firm has a 50 day simple moving average of $49.08 and a two-hundred day simple moving average of $53.54.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly 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 return on equity of 12.01% and a net margin of 19.39%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company’s quarterly 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. Research analysts expect that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th were issued a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, October 13th. This represents a $1.92 annualized dividend and a dividend yield of 4.1%. McCormick & Company, Incorporated’s payout ratio is presently 34.72%.

Insider Activity

In other news, major shareholder Lawrence Kurzius sold 205,538 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $52.69, for a total transaction of $10,829,797.22. Following the transaction, the insider directly owned 296,992 shares in the company, valued at $15,648,508.48. The trade was a 40.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several institutional investors and hedge funds have recently added to or reduced their stakes in MKC. Rakuten Investment Management Inc. grew its holdings in shares of McCormick & Company, Incorporated by 11.2% during the third quarter. Rakuten Investment Management Inc. now owns 46,848 shares of the company’s stock worth $2,267,000 after buying an additional 4,702 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $42,000. Eads & Heald Wealth Management lifted its stake in shares of McCormick & Company, Incorporated by 35.7% during the third quarter. Eads & Heald Wealth Management now owns 13,683 shares of the company’s stock valued at $635,000 after buying an additional 3,597 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in McCormick & Company, Incorporated during the third quarter worth approximately $4,871,000. Finally, ProShare Advisors LLC boosted its position in McCormick & Company, Incorporated by 2.6% during the third quarter. ProShare Advisors LLC now owns 3,222,289 shares of the company’s stock worth $149,514,000 after acquiring an additional 82,353 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

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.