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

McCormick & Company, Incorporated logo with Consumer Staples background

Key Points

  • McCormick & Company, Incorporated shares reached a new 52-week low of $68.42 during trading, closing at $69.09 with a volume of approximately 2.36 million shares.
  • The company reported quarterly earnings of $0.69 per share, beating estimates, though revenue of $1.66 billion was slightly below analysts' expectations of $1.67 billion.
  • McCormick recently declared a quarterly dividend of $0.45 per share, which represents an annualized yield of 2.6% and a payout ratio of 62.50%.
  • Want stock alerts on McCormick & Company, Incorporated? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Shares of McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $68.42 and last traded at $69.09, with a volume of 2359589 shares traded. The stock had previously closed at $69.67.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MKC shares. Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. 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. UBS Group began coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a "neutral" rating and a $83.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $83.00.

Read Our Latest Stock Analysis on MKC

McCormick & Company, Incorporated Stock Performance

The firm's 50 day moving average price is $72.79 and its two-hundred day moving average price is $75.72. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The firm has a market cap of $18.70 billion, a PE ratio of 24.19, a PEG ratio of 3.40 and a beta of 0.66.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $0.69 EPS. The business's revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

McCormick & Company, Incorporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were issued a $0.45 dividend. 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 dividend payout ratio is currently 62.50%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Large investors have recently made changes to their positions in the stock. Bank of Jackson Hole Trust purchased a new position in McCormick & Company, Incorporated in the second quarter valued at $25,000. Capital Analysts LLC acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth about $26,000. Elevation Point Wealth Partners LLC acquired a new position in shares of McCormick & Company, Incorporated during the 2nd quarter worth about $27,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth about $28,000. Finally, Wayfinding Financial LLC acquired a new position in shares of McCormick & Company, Incorporated during the 1st quarter worth about $30,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Company Profile

(Get Free Report)

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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