McCormick & Company, Incorporated (NYSE:MKC) Shares Down 1.9% - Here's What Happened

Key Points

• McCormick shares fell 1.9% to about $47.90, with trading volume 29% below the average.
• Analysts’ consensus rating is Hold, with an average price target of $55.30; five analysts rate the stock Buy and eight rate it Hold.
• The company beat quarterly earnings and revenue estimates, reported 17.4% year-over-year revenue growth, and set fiscal 2026 EPS guidance of $3.05–$3.13. Its quarterly dividend of $0.48 equates to a 4.0% yield at the cited share price.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report)'s share price dropped 1.9% on Tuesday. The company traded as low as $47.72 and last traded at $47.9030. Approximately 2,801,948 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 3,973,397 shares. The stock had previously closed at $48.82.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MKC shares. Weiss Ratings upgraded McCormick & Company, Incorporated from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, October 23rd. Sanford C. Bernstein reiterated an "outperform" rating and issued a $59.00 price target on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. BNP Paribas Exane decreased their price target on McCormick & Company, Incorporated from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on McCormick & Company, Incorporated from $60.00 to $59.00 and set a "buy" rating for the company in a report on Monday, September 21st. Finally, TD Cowen reaffirmed a "hold" rating and issued a $48.00 price objective (down from $55.00) on shares of McCormick & Company, Incorporated in a research report on Friday, October 2nd. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, McCormick & Company, Incorporated currently has an average rating of "Hold" and an average target price of $55.30.

McCormick & Company, Incorporated Stock Down 1.9%

The company has a market cap of $12.89 billion, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 1.95 and a beta of 0.66. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.33 and a current ratio of 0.66. The business's fifty day moving average is $48.95 and its two-hundred day moving average is $53.45.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its earnings results on Thursday, October 1st. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.10. McCormick & Company, Incorporated had a net margin of 19.39% and a return on equity of 12.01%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $0.85 EPS. The company's revenue for the quarter was up 17.4% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Equities analysts predict that McCormick & Company, Incorporated will post 3.09 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Tuesday, October 13th were paid a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, October 13th. This represents a $1.92 annualized dividend and a yield of 4.0%. McCormick & Company, Incorporated's dividend payout ratio is 34.72%.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, major shareholder Lawrence Kurzius sold 205,538 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $52.69, for a total transaction of $10,829,797.22. Following the transaction, the insider directly owned 296,992 shares in the company, valued at $15,648,508.48. This trade represents a 40.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.60% of the stock is owned by insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of hedge funds and other institutional investors have recently made changes to their positions in MKC. CFS Investment Advisory Services LLC grew its stake in McCormick & Company, Incorporated by 2.8% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 8,130 shares of the company's stock valued at $369,000 after acquiring an additional 224 shares in the last quarter. Dorato Capital Management lifted its stake in McCormick & Company, Incorporated by 5.4% in the 3rd quarter. Dorato Capital Management now owns 4,588 shares of the company's stock worth $208,000 after purchasing an additional 235 shares in the last quarter. CoreCap Advisors LLC lifted its stake in McCormick & Company, Incorporated by 16.4% in the 3rd quarter. CoreCap Advisors LLC now owns 1,738 shares of the company's stock worth $81,000 after purchasing an additional 245 shares in the last quarter. North Dakota State Investment Board boosted its holdings in shares of McCormick & Company, Incorporated by 3.5% during the 3rd quarter. North Dakota State Investment Board now owns 7,796 shares of the company's stock worth $362,000 after purchasing an additional 266 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 3.6% during the 2nd quarter. QRG Capital Management Inc. now owns 8,302 shares of the company's stock worth $419,000 after purchasing an additional 292 shares during the last quarter. Institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated is a global manufacturer and marketer of spices, seasonings, condiments, sauces, and other flavor products. The company serves consumers through grocery, e-commerce, and foodservice channels, while also supplying flavor solutions to food manufacturers and other commercial customers.

Its consumer portfolio includes McCormick spices and seasonings, as well as brands such as French's, Frank's RedHot, Lawry's, OLD BAY, and Gourmet Garden. Its products are used in home cooking, restaurants, and packaged foods across a range of cuisines and meal occasions.

Founded by Willoughby M.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.