McCormick & Company, Incorporated (NYSE:MKC) Hits New 52-Week Low - What's Next?

Key Points

• McCormick & Company (NYSE:MKC) stock reached a new 52-week low, trading as low as $65.95 amidst a high trading volume of over 3.2 million shares.
• Analyst ratings for McCormick are mixed, with several downgrades and price target reductions, while one analyst maintains a Strong Buy rating with a consensus price target of $84.25.
• The company recently declared a quarterly dividend of $0.45 per share, reflecting a 2.7% yield 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 Tuesday . The stock traded as low as $65.95 and last traded at $66.07, with a volume of 3202655 shares changing hands. The stock had previously closed at $68.95.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MKC shares. Citigroup lowered their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. Stifel Nicolaus decreased their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. UBS Group dropped their price target on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Friday, August 22nd. Finally, Wall Street Zen lowered shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. One investment 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.25.

McCormick & Company, Incorporated Stock Down 1.1%

The stock has a market capitalization of $17.59 billion, a PE ratio of 22.76, a P/E/G ratio of 3.25 and a beta of 0.65. The stock's 50-day moving average price is $70.08 and its two-hundred day moving average price is $74.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data 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. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm posted $0.69 earnings per share. The firm's revenue was up 1.0% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were given a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 annualized dividend and a yield of 2.7%. McCormick & Company, Incorporated's dividend payout ratio is presently 62.50%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of large investors have recently modified their holdings of the company. Reynders McVeigh Capital Management LLC grew its position in shares of McCormick & Company, Incorporated by 2.6% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 398,466 shares of the company's stock worth $30,212,000 after acquiring an additional 10,079 shares in the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of McCormick & Company, Incorporated by 7.9% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 10,698 shares of the company's stock worth $811,000 after buying an additional 781 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new position in McCormick & Company, Incorporated during the second quarter valued at $1,215,000. Promus Capital LLC grew its stake in McCormick & Company, Incorporated by 23.2% in the second quarter. Promus Capital LLC now owns 7,874 shares of the company's stock valued at $597,000 after purchasing an additional 1,484 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of McCormick & Company, Incorporated by 25.5% during the 2nd quarter. Advisory Services Network LLC now owns 4,887 shares of the company's stock worth $345,000 after acquiring an additional 993 shares in the last quarter. 79.74% of the stock is currently 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.