McCormick & Company, Incorporated (NYSE:MKC) Shares Climb 5% – Here’s Why

Shares of McCormick & Company, Incorporated (NYSE:MKC) traded up 5% during mid-day trading on Thursday. The stock traded as high as $48.71 and last traded at $48.6350. 4,670,773 shares traded hands during trading, an increase of 16% from the average daily volume of 4,009,954 shares. The stock had previously closed at $46.32.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MKC shares. Deutsche Bank Aktiengesellschaft decreased 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. Barclays cut their price target on shares of McCormick & Company, Incorporated from $55.00 to $47.00 and set an “equal weight” rating for the company in a report on Friday, October 2nd. BNP Paribas Exane cut their price objective on McCormick & Company, Incorporated from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, October 2nd. JPMorgan Chase & Co. cut their target price on shares of McCormick & Company, Incorporated from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $59.00 price objective on shares of McCormick & Company, Incorporated in a report on Friday, October 2nd. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.30.

McCormick & Company, Incorporated Stock Up 5.0%

The company has a market cap of $13.09 billion, a PE ratio of 8.79, a PEG ratio of 2.01 and a beta of 0.65. The stock’s 50 day moving average price is $49.96 and its 200-day moving average price is $50.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.33 and a current ratio of 0.66.

McCormick & Company, Incorporated (NYSE:MKC) 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. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. McCormick & Company, Incorporated had a net margin of 19.39% and a return on equity of 12.01%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. On average, analysts predict that McCormick & Company, Incorporated will post 3.09 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, October 13th. McCormick & Company, Incorporated’s payout ratio is 34.72%.

Insiders Place Their Bets

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 296,992 shares in the company, valued at $15,648,508.48. This represents a 40.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

A number of large investors have recently bought and sold shares of MKC. Yousif Capital Management LLC boosted its stake in shares of McCormick & Company, Incorporated by 1.3% during the third quarter. Yousif Capital Management LLC now owns 121,849 shares of the company’s stock valued at $5,654,000 after purchasing an additional 1,605 shares during the period. MBL Wealth LLC bought a new position in shares of McCormick & Company, Incorporated in the third quarter worth approximately $446,000. Indiana Trust & Investment Management Co purchased a new position in shares of McCormick & Company, Incorporated in the third quarter worth $89,000. SBI Securities Co. Ltd. increased its stake in shares of McCormick & Company, Incorporated by 66.7% in the third quarter. SBI Securities Co. Ltd. now owns 5,125 shares of the company’s stock worth $238,000 after buying an additional 2,051 shares during the period. Finally, Cardinal Capital Management increased its stake in shares of McCormick & Company, Incorporated by 7.8% in the third quarter. Cardinal Capital Management now owns 123,340 shares of the company’s stock worth $5,723,000 after buying an additional 8,896 shares during the period. 79.74% of the stock is owned by hedge funds and other institutional investors.

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.