McCormick & Company, Incorporated (NYSE:MKC) Reaches New 12-Month Low - What's Next?

Key Points

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Shares of McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $68.23 and last traded at $68.43, with a volume of 3287132 shares changing hands. The stock had previously closed at $69.70.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. 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 research report on Tuesday, June 17th. UBS Group assumed coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They issued a "neutral" rating and a $83.00 price target on the stock. Finally, Stifel Nicolaus lowered their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average target price of $83.00.

McCormick & Company, Incorporated Stock Performance

The stock's 50-day moving average is $72.56 and its 200-day moving average is $75.59. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 3.35 and a beta of 0.66. 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 (NYSE:MKC - Get Free Report) last announced its earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. McCormick & Company, Incorporated's revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 earnings per share. Analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 62.50%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of large investors have recently bought and sold shares of MKC. Vanguard Group Inc. raised its stake in shares of McCormick & Company, Incorporated by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,427,901 shares of the company's stock valued at $2,458,683,000 after acquiring an additional 553,862 shares during the period. Geode Capital Management LLC increased its stake in McCormick & Company, Incorporated by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 6,375,983 shares of the company's stock worth $481,354,000 after buying an additional 133,800 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in McCormick & Company, Incorporated by 28.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company's stock worth $340,406,000 after buying an additional 920,618 shares during the period. Invesco Ltd. increased its stake in McCormick & Company, Incorporated by 44.9% during the 2nd quarter. Invesco Ltd. now owns 3,737,793 shares of the company's stock worth $283,399,000 after buying an additional 1,158,423 shares during the period. Finally, Northern Trust Corp increased its stake in McCormick & Company, Incorporated by 16.8% during the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after buying an additional 531,060 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

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.

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