McCormick & Company, IncorporatNYSE: MKC
Consumer Staples · Packaged Foods & Meats
$50.38
-0.91%
Vol: 1.7M
Research Digest
Friday, May 1, 2026
McCormick secures $2B term loan for Unilever $44.8B foods merger
McCormick arranged $2B three-year term loan effective April 28 to help fund Unilever Foods combination valued at $44.8B, replacing part of $15.7B bridge facility. Stock up 4.5% post-earnings. Deal reshapes growth strategy with expansion into condiments/spreads. FY2025: $6.84B revenue (+1.73% YoY), $789.4M earnings (+0.11% YoY). Analyst consensus Buy with $67 PT (+32.73% upside). Risk: deal may not close by guidance timeline.
Previous Market Intelligence
13 daysApr 30McCormick Short Interest Rises Amid $44.8B Unilever Foods Merger DealMixed▶
McCormick agreed to combine its food business with Unilever Foods in a $44.8 billion deal expected to close by mid-2027. Short interest grew 19.7% during April, with 12.1 million shares short as of April 15. Vanguard increased its stake by 1.0% in Q4. Analysts rate MKC "Buy" with 12-month target of $67.0, representing 32.73% upside. Quarterly dividend of $0.48 per share set with ex-date of April 20, 2026.
Apr 16McCormick announces $65B merger with Unilever foods business; Q1 EPS beats at $0.66 vs $0.61 consensusPositive▶
McCormick announced definitive agreement to merge with Unilever food business in a $65 billion tax-efficient Reverse Morris Trust creating a global flavor powerhouse with combined revenue of about $20B. Q1 2026 earnings exceeded expectations with EPS of $0.66 vs $0.61 consensus and revenue of $1.87B vs $1.79B consensus. Updated FY 2026 guidance to EPS of $3.05-$3.13 and revenue of $7.7-$8.0B. Quarterly dividend declared at $0.48 payable April 27. Analyst price target of $69.38, representing 29.15% upside.
Apr 15McCormick beat Q1 2026 earnings but stock fell 21.98% in past month amid $44.8B Unilever Foods merger concerns; BofA lowered PT to $65.Mixed▶
McCormick reported strong Q1 2026 results with EPS of $0.66 (beat consensus $0.61) and revenue of $1.87B (beat consensus $1.79B). However, the stock has declined 21.98% due to concerns over the proposed $44.8B combination with Unilever's Foods business. McCormick shareholders will own ~35% of the combined entity. BofA Securities lowered PT to $65 from $80 citing transaction complexity.
Apr 14McCormick participates in Barclays fireside chat April 14; Unilever Foods merger announced with FY 2026 EPS guidance narrowed.Mixed▶
McCormick CEO Brendan Foley and CFO Marcos Gabriel will participate in Barclays fireside chat on April 14. Company updated FY 2026 earnings guidance to $3.05-$3.13 EPS and revenue $7.7B-$8.0B. Quarterly dividend of $0.48 per share payable April 27. Announcement of transformative Unilever Foods combination on March 31 driving investor caution.
Apr 13McCormick updates FY 2026 earnings guidance while navigating transformative Unilever Foods merger.Mixed▶
McCormick updated FY 2026 earnings guidance to $3.050-$3.13 EPS and $7.7B-$8.0B revenue. A class action investigation was announced regarding the merger with Unilever's food division. JPMorgan lowered its price target to $64 from $67, noting the company is not receiving investor support regarding the transformative deal.
Apr 10McCormick-Unilever Foods merger generates mixed reaction; JPMorgan cuts price target to $64 amid investor skepticism on $44.8B deal.Mixed▶
McCormick announced a $44.8 billion merger with Unilever's Foods business projecting over 20% post-synergy EPS accretion. Q1 2026 revenue of $1.87 billion exceeded consensus. JPMorgan lowered price target to $64 from $67. BNP Paribas downgraded target from $83 to $75. McCormick continues its 102-year dividend streak with a $0.48 quarterly dividend.
Apr 9McCormick declares $0.48 dividend amid Unilever Foods merger integration concerns.Neutral▶
McCormick declared $0.48 quarterly dividend (102nd consecutive year) payable April 27. Q1 2026 earnings of $0.66 beat forecasts of $0.61; revenue $1.87B exceeded $1.79B estimate. Company announced merger with Unilever Foods but faces integration risks. BofA Securities lowered price target from $80 to $65 while maintaining Buy rating. Analysts cite 41.7% undervaluation by DCF despite cost pressures and competition.
Apr 8McCormick Reports Strong Q1 Performance; Unilever Foods Deal Aims for $600M SynergiesPositive▶
McCormick reported strong Q1 fiscal 2026 results with net sales increasing 16.7%. Company reaffirmed 2026 sales growth, adjusted operating income and adjusted earnings per share outlook. McCormick is navigating pivotal merger with Unilever's Foods business (Hellmann's mayo, etc.), aiming for $600 million in annual cost synergies. Analyst consensus Buy with $69.38 average price target, 29.15% upside.
Apr 7No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Apr 6McCormick to acquire Unilever Foods in $44.8B deal targeting $600M synergies.Positive▶
McCormick is combining with Unilever Foods in $44.8B transaction with target $600M synergies and 23-25% operating margins by year three. Includes iconic brands like Hellmanns mayo. Q1 earnings beat sales estimates.
Apr 3McCormick and Unilever announce definitive $65.8 billion merger creating world's largest pure-play flavor company; Q1 2026 earnings beat.Mixed▶
McCormick & Company and Unilever announced a transformative merger on March 31, 2026 valued at approximately $65.8 billion. The combined entity will generate over $20 billion in annual revenue. McCormick reported Q1 2026 EPS of $0.66 (beat $0.61 estimate) and revenue of $1.87 billion (beat $1.79 billion). Stock fell 7% on dilution concerns.
Apr 2McCormick to acquire Unilever food business in landmark $45 billion deal creating $20B annual sales combined company; reaffirms 2026 outlook.Mixed▶
McCormick announced acquisition of Unilever food business, valuing the deal at nearly $45 billion (McCormick paying $15.7 billion in cash with Unilever shareholders owning 55.1% of combined entity). The transaction adds brands like Hellmann's mayo and Marmite, with expected $300 million in annual cost synergies. Combined company projected to generate $20 billion in annual sales. McCormick reported Q1 2026 net sales up 16.7% (organic growth 1.2%) and reaffirmed full-year outlook. Multiple analysts lowered price targets amid deal integration concerns.
Apr 1McCormick stock fell 6-7% despite beating Q1 earnings after announcing $44.8B merger with Unilever Foods.Negative▶
McCormick reported strong Q1 2026 with EPS of $0.66 vs $0.63 consensus and revenue of $1.87B vs $1.79B. However, the Unilever Foods merger sparked sell-off concerns over post-merger leverage. Deutsche Bank cut target to $59, Barclays to $58.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| MDLZMONDELEZ | $61.40 | -0.07% | +5.2% | 18.3x | 0.39 | $78.9B |
| HSYHERSHEY | $182.63 | -1.68% | -10.7% | 18.8x | 0.17 | $37.6B |
| KHCKRAFT | $22.53 | -0.60% | -3.9% | 10.6x | 0.05 | $26.8B |
| TSNTYSON | $63.84 | -0.36% | -0.7% | 14.6x | 0.43 | $22.6B |
| GISGENERAL | $34.83 | -1.37% | -6.3% | 10.7x | — | $18.8B |
| MKCMCCORMICK | $50.38 | -0.91% | +0.1% | 15.2x | 0.71 | $13.7B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.