McCormick & Company, Incorporated (NYSE:MKC) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• McCormick & Company reported an earnings per share of $0.85 for the quarter, exceeding estimates by $0.03, while total revenue was $1.72 billion.
• The company has updated its fiscal year 2025 guidance to an EPS range of $3.000-$3.050.
• A quarterly dividend of $0.45 per share will be distributed on October 27th, representing an annualized dividend yield of 2.6%.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.03, Zacks reports. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm earned $0.83 EPS. The business's revenue was up 2.7% on a year-over-year basis. McCormick & Company, Incorporated updated its FY 2025 guidance to 3.000-3.050 EPS.

McCormick & Company, Incorporated Price Performance

Shares of MKC stock opened at $68.30 on Tuesday. The stock's fifty day simple moving average is $68.95 and its 200 day simple moving average is $72.74. McCormick & Company, Incorporated has a one year low of $63.66 and a one year high of $86.24. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 3.42 and a beta of 0.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27.

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, October 14th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is 62.50%.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of McCormick & Company, Incorporated by 11.5% in the 2nd quarter. AQR Capital Management LLC now owns 642,437 shares of the company's stock worth $48,710,000 after purchasing an additional 66,060 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in McCormick & Company, Incorporated by 6.0% during the 2nd quarter. Corient Private Wealth LLC now owns 496,100 shares of the company's stock valued at $37,614,000 after purchasing an additional 28,145 shares during the last quarter. California State Teachers Retirement System grew its stake in McCormick & Company, Incorporated by 5.5% during the second quarter. California State Teachers Retirement System now owns 474,704 shares of the company's stock worth $35,992,000 after buying an additional 24,671 shares during the last quarter. Holocene Advisors LP increased its holdings in shares of McCormick & Company, Incorporated by 494.2% during the second quarter. Holocene Advisors LP now owns 382,351 shares of the company's stock worth $28,990,000 after buying an additional 318,001 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of McCormick & Company, Incorporated by 0.6% in the second quarter. Canada Pension Plan Investment Board now owns 307,097 shares of the company's stock valued at $23,284,000 after acquiring an additional 1,842 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of McCormick & Company, Incorporated from $90.00 to $84.00 and set a "buy" rating for the company in a research note on Monday, September 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of McCormick & Company, Incorporated in a research report on Saturday, September 27th. Wall Street Zen lowered McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Citigroup lowered their price objective on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Finally, Stifel Nicolaus reduced their target price 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. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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.