McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) updated its FY 2025 earnings guidance on Thursday. The company provided earnings per share guidance of 3.030-3.080 for the period, compared to the consensus earnings per share estimate of 3.020. The company issued revenue guidance of -, compared to the consensus revenue estimate of $6.8 billion.
McCormick & Company, Incorporated Stock Up 5.4%
Shares of NYSE MKC traded up $3.99 during midday trading on Thursday, hitting $77.63. 4,688,895 shares of the stock traded hands, compared to its average volume of 2,062,085. 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 one year low of $66.88 and a one year high of $86.24. The business has a 50 day moving average price of $74.28 and a two-hundred day moving average price of $76.75. The company has a market cap of $20.82 billion, a PE ratio of 26.68, a P/E/G ratio of 3.76 and a beta of 0.68.
McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business posted $0.69 EPS. McCormick & Company, Incorporated's quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.
McCormick & Company, Incorporated Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.32%. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.
Analyst Upgrades and Downgrades
A number of analysts have commented on MKC shares. Citigroup decreased their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Finally, UBS Group began coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $84.13.
Read Our Latest Report on MKC
Insider Activity at McCormick & Company, Incorporated
In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total value of $223,905.00. Following the transaction, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. The trade was a 54.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katherine Jenkins sold 7,642 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $76.38, for a total transaction of $583,695.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,392 shares of company stock valued at $4,898,101. 23.80% of the stock is owned by insiders.
Institutional Trading of McCormick & Company, Incorporated
Several hedge funds have recently made changes to their positions in MKC. Woodline Partners LP raised its stake in McCormick & Company, Incorporated by 40.9% in the 1st quarter. Woodline Partners LP now owns 21,334 shares of the company's stock valued at $1,756,000 after acquiring an additional 6,189 shares during the period. Empowered Funds LLC increased its stake in shares of McCormick & Company, Incorporated by 19.0% in the first quarter. Empowered Funds LLC now owns 5,903 shares of the company's stock worth $486,000 after purchasing an additional 941 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 worth $2,854,000 after purchasing an additional 925 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors.
About McCormick & Company, Incorporated
(
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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.
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