McCormick & Company, Incorporated (NYSE:MKC) Reaches New 52-Week Low - Should You Sell?

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 hit 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.

Analyst Ratings Changes

Several brokerages have recently commented on MKC. Wall Street Zen downgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research note on Saturday. Stifel Nicolaus lowered their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. JPMorgan Chase & Co. raised McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and upped their price target for the company from $69.00 to $83.00 in a research note on Wednesday, August 20th. Citigroup lowered their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, June 17th. Finally, UBS Group lowered their target price on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.25.

McCormick & Company, Incorporated Stock Performance

The stock has a 50 day moving average of $70.56 and a 200 day moving average of $74.37. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $17.73 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 3.38 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The company'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 predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were issued a dividend of $0.45 per share. 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 62.50%.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several institutional investors have recently bought and sold shares of MKC. IFM Investors Pty Ltd grew its stake in McCormick & Company, Incorporated by 13.3% in the 1st quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company's stock valued at $4,091,000 after purchasing an additional 5,829 shares during the period. Sowell Financial Services LLC bought a new position in McCormick & Company, Incorporated in the 1st quarter valued at $260,000. Stratos Wealth Partners LTD. grew its stake in McCormick & Company, Incorporated by 5.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company's stock valued at $7,267,000 after purchasing an additional 4,771 shares during the period. Retirement Guys Formula LLC bought a new position in McCormick & Company, Incorporated in the 1st quarter valued at $988,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of McCormick & Company, Incorporated by 10.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company's stock valued at $3,464,000 after buying an additional 3,877 shares during the last quarter. 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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