McCormick & Company, Incorporated (NYSE:MKC) Shares Up 1.2% - Time to Buy?

Key Points

• McCormick shares rose 1.2% to $47.34, but remain below their 50-day and 200-day moving averages of $49.24 and $53.64, respectively.
• Analysts maintain a consensus “Hold” rating, with an average price target of $55.30; several firms recently reduced their targets despite some outperform and overweight ratings.
• The company exceeded quarterly earnings and revenue expectations, with revenue up 17.4% year over year, while its $0.48 quarterly dividend implies a 4.1% annual yield.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report)'s share price traded up 1.2% on Friday. The company traded as high as $47.97 and last traded at $47.34. Approximately 4,298,719 shares were traded during mid-day trading, an increase of 8% from the average session volume of 3,986,740 shares. The stock had previously closed at $46.80.

Wall Street Analysts Forecast Growth

MKC has been the topic of several recent analyst reports. BNP Paribas Exane lowered their target price on shares of McCormick & Company, Incorporated from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, October 2nd. Weiss Ratings upgraded McCormick & Company, Incorporated from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 23rd. TD Cowen restated a "hold" rating and issued a $48.00 price target (down from $55.00) on shares of McCormick & Company, Incorporated in a research note on Friday, October 2nd. JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $63.00 to $62.00 and set an "overweight" rating for the company in a report on Friday, September 18th. Finally, UBS Group lowered their price target on McCormick & Company, Incorporated from $52.00 to $48.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $55.30.

McCormick & Company, Incorporated Trading Up 1.2%

The company's fifty day simple moving average is $49.24 and its 200-day simple moving average is $53.64. The firm has a market capitalization of $12.74 billion, a PE ratio of 8.56, a P/E/G ratio of 1.95 and a beta of 0.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.66 and a quick ratio of 0.33.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $1.98 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The company's quarterly revenue was up 17.4% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. As a group, sell-side analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Tuesday, October 13th. McCormick & Company, Incorporated's dividend payout ratio is 34.72%.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of the business's stock in a transaction dated Monday, August 10th. The shares were 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 approximately $15,648,508.48. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.60% of the company's stock.

Institutional Trading of McCormick & Company, Incorporated

A number of hedge funds have recently bought and sold shares of MKC. Provenance Wealth Advisors LLC purchased a new position in shares of McCormick & Company, Incorporated during the third quarter worth $42,000. Eads & Heald Wealth Management grew its holdings in McCormick & Company, Incorporated by 35.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 13,683 shares of the company's stock worth $635,000 after acquiring an additional 3,597 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in McCormick & Company, Incorporated in the third quarter valued at $4,871,000. ProShare Advisors LLC raised its stake in McCormick & Company, Incorporated by 2.6% in the third quarter. ProShare Advisors LLC now owns 3,222,289 shares of the company's stock valued at $149,514,000 after buying an additional 82,353 shares in the last quarter. Finally, Parcion Private Wealth LLC lifted its holdings in McCormick & Company, Incorporated by 29.4% during the 3rd quarter. Parcion Private Wealth LLC now owns 9,130 shares of the company's stock worth $424,000 after buying an additional 2,075 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

About McCormick & Company, Incorporated

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.

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