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

McCormick & Company, Incorporated (NYSE:MKC) posted its 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. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business posted $0.63 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. McCormick & Company, Incorporated updated its FY25 guidance to $3.03-3.08 EPS.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $80.35 on Tuesday. 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 has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The firm has a 50-day simple moving average of $78.58 and a 200-day simple moving average of $78.87. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Margaret M. V. Preston sold 28,092 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,177 shares of the company’s stock, valued at $475,814.31. This represents a 81.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 23.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.