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

Key Points

• McCormick & Company, Incorporated's stock recently hit a new 52-week low, trading at $67.73, marking a significant decline from its previous close of $69.63.
• Analyst ratings for McCormick show a mix of upgrades and downgrades, with a consensus rating of "Moderate Buy" and an average price target of $84.25.
• The company reported a quarterly EPS of $0.69, surpassing estimates, but with revenue slightly below analyst expectations at $1.66 billion.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $67.83 and last traded at $67.73, with a volume of 373928 shares trading hands. The stock had previously closed at $69.63.

Analyst Ratings Changes

Several equities analysts have recently commented on MKC shares. Citigroup cut their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. UBS Group cut their price target on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, August 22nd. Stifel Nicolaus cut 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. Wall Street Zen upgraded McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $69.00 to $83.00 in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $84.25.

McCormick & Company, Incorporated Price Performance

The company has a market cap of $18.46 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 3.44 and a beta of 0.65. 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 firm has a 50 day simple moving average of $71.10 and a 200-day simple moving average of $74.79.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $1.66 billion during 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% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were paid 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 was Monday, July 7th. McCormick & Company, Incorporated's payout ratio is presently 62.50%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust acquired a new position in shares of McCormick & Company, Incorporated in the second quarter valued at about $25,000. Capital Analysts LLC purchased a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC acquired a new position in McCormick & Company, Incorporated in the 2nd quarter worth approximately $27,000. Zions Bancorporation National Association UT purchased a new position in McCormick & Company, Incorporated during the 1st quarter worth approximately $28,000. Finally, Wayfinding Financial LLC purchased a new position in McCormick & Company, Incorporated during the 1st quarter worth approximately $30,000. Hedge funds and other institutional investors own 79.74% of the company's stock.

About McCormick & Company, Incorporated

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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