McCormick & Company, Incorporated (NYSE:MKC) Reaches New 52-Week Low - Here's What Happened

Key Points

• McCormick & Company, Incorporated's stock reached a new 52-week low at $64.93 during trading, reflecting investor concerns and a recent volume of 36,960 shares.
• Analysts have revised their price targets for McCormick, with Citigroup lowering their target from $80.00 to $77.00 while JPMorgan upgraded their forecast from $69.00 to $83.00.
• The company also declared a quarterly dividend of $0.45, with an annualized yield of 2.8% and a payout ratio of 62.50%.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The company traded as low as $64.93 and last traded at $64.95, with a volume of 36960 shares changing hands. The stock had previously closed at $65.48.

Analyst Ratings Changes

MKC has been the topic of a number of recent analyst reports. Citigroup cut 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. 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 report on Tuesday, July 29th. UBS Group reduced their target price on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. Finally, Wall Street Zen lowered McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of "Moderate Buy" and an average price target of $84.25.

McCormick & Company, Incorporated Trading Down 1.1%

The stock has a 50 day simple moving average of $69.94 and a 200-day simple moving average of $73.78. The firm has a market capitalization of $17.38 billion, a P/E ratio of 22.48, a P/E/G ratio of 3.22 and a beta of 0.65. 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 (NYSE:MKC - Get Free Report) last announced its 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 11.50% and a return on equity of 14.43%. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The firm's revenue was up 1.0% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 62.50%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MKC. Bank of Jackson Hole Trust purchased a new position in shares of McCormick & Company, Incorporated during the 2nd quarter valued at about $25,000. Capital Analysts LLC bought a new position in shares of McCormick & Company, Incorporated in the first quarter worth approximately $26,000. Elevation Point Wealth Partners LLC bought a new position in shares of McCormick & Company, Incorporated in the second quarter worth approximately $27,000. Zions Bancorporation National Association UT bought a new position in shares of McCormick & Company, Incorporated in the first quarter worth approximately $28,000. Finally, Wayfinding Financial LLC bought a new position in shares of McCormick & Company, Incorporated in the first quarter worth approximately $30,000. 79.74% of the stock is owned by hedge funds and other institutional investors.

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.