McCormick & Company, Incorporated (NYSE:MKC) Issues Earnings Results

McCormick & Company, Incorporated (NYSE:MKC) posted its quarterly earnings results on Tuesday. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04), Briefing.com reports. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. 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 Price Performance

NYSE:MKC opened at $80.39 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 52 week low of $66.88 and a 52 week high of $86.24. The stock’s 50-day moving average price is $78.75 and its 200-day moving average price is $78.85. The stock has a market capitalization of $21.56 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MKC shares. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their target price for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $91.00 in a report on Monday, December 9th. Barclays reduced their target price 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. Finally, JPMorgan Chase & Co. upped their price target on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an “underweight” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.75.

Insider Buying and Selling

In other news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares in the company, valued at $475,814.31. The trade was a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 23.80% of the stock is currently 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.