McCormick & Company, Incorporated (NYSE:MKC) Releases Earnings Results, Beats Expectations By $0.03 EPS

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03, Zacks reports. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated updated its FY 2025 guidance to 3.030-3.080 EPS.

McCormick & Company, Incorporated Price Performance

Shares of MKC traded up $1.46 during midday trading on Thursday, hitting $74.70. 3,466,996 shares of the company traded hands, compared to its average volume of 2,109,922. The firm has a 50 day moving average of $76.65 and a 200-day moving average of $77.98. McCormick & Company, Incorporated has a 52 week low of $64.33 and a 52 week high of $85.49. The stock has a market cap of $20.05 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 3.28 and a beta of 0.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

McCormick & Company, Incorporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Monday, December 30th. This is a positive change from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. McCormick & Company, Incorporated's dividend payout ratio is presently 61.22%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Bank of America raised their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their target price for the stock from $85.00 to $91.00 in a report on Monday, December 9th. JPMorgan Chase & Co. dropped their price target on McCormick & Company, Incorporated from $68.00 to $66.00 and set an "underweight" rating on the stock in a research report on Wednesday, January 15th. BNP Paribas raised McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. Finally, TD Cowen raised McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and upped their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.63.

Insider Buying and Selling at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the transaction, the director now directly owns 28,217 shares of the company's stock, valued at $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 20,000 shares of company stock valued at $1,565,850 in the last 90 days. Insiders own 22.90% 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.