McCormick & Company, Incorporated (NYSE:MKC) Announces Earnings Results, Misses Estimates By $0.04 EPS

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.04), Briefing.com reports. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business earned $0.63 EPS. The company's revenue for the quarter was up .2% compared to the same quarter last year. McCormick & Company, Incorporated updated its FY25 guidance to $3.03-3.08 EPS and its FY 2025 guidance to 3.030-3.080 EPS.

McCormick & Company, Incorporated Stock Down 0.2 %

Shares of McCormick & Company, Incorporated stock traded down $0.16 during midday trading on Friday, hitting $81.47. The company had a trading volume of 2,176,119 shares, compared to its average volume of 1,899,000. The stock has a market capitalization of $21.85 billion, a P/E ratio of 27.80, a P/E/G ratio of 3.76 and a beta of 0.71. The company has a 50 day moving average of $79.26 and a 200 day moving average of $78.83. McCormick & Company, Incorporated has a 52-week low of $66.88 and a 52-week high of $86.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.31 and a current ratio of 0.74.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

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Analyst Upgrades and Downgrades

MKC has been the topic of several analyst reports. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and increased their price target for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. Argus lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday. Barclays reduced their price target on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, McCormick & Company, Incorporated has an average rating of "Hold" and an average target price of $83.75.

Insider Activity at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the sale, the director now directly owns 6,177 shares in the company, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.80% of the stock is owned by insiders.

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.