McCormick & Company, Incorporated (NYSE:MKC) Price Target Cut to $62.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered McCormick’s price target from $63 to $62 while maintaining an “overweight” rating, implying roughly 25.7% upside from the cited closing price.
• Analyst sentiment is mixed: McCormick has a consensus “Hold” rating and an average target price of $59.90, with five Buy ratings and eight Holds.
• McCormick reported quarterly EPS of $0.80, beating estimates of $0.69, while revenue rose 16.7% year over year to $1.94 billion. Shares closed at $49.32, down 0.8% in the cited session.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $63.00 to $62.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 25.72% from the company's previous close.

MKC has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of McCormick & Company, Incorporated from $59.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. TD Cowen lowered shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $60.00 to $55.00 in a report on Monday. Jefferies Financial Group dropped their target price on shares of McCormick & Company, Incorporated from $64.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, June 4th. UBS Group upped their target price on shares of McCormick & Company, Incorporated from $51.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Finally, Weiss Ratings raised shares of McCormick & Company, Incorporated from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and a consensus target price of $59.90.

McCormick & Company, Incorporated Stock Down 0.8%

Shares of NYSE MKC traded down $0.38 during midday trading on Friday, reaching $49.32. 825,125 shares of the company's stock were exchanged, compared to its average volume of 3,928,618. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.78. McCormick & Company, Incorporated has a 52-week low of $44.82 and a 52-week high of $72.41. The business's fifty day moving average price is $52.69 and its two-hundred day moving average price is $51.89. The stock has a market capitalization of $13.26 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings data on Thursday, June 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.11. McCormick & Company, Incorporated had a return on equity of 12.78% and a net margin of 21.91%.The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the business earned $0.69 EPS. McCormick & Company, Incorporated's revenue for the quarter was up 16.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Analysts forecast that McCormick & Company, Incorporated will post 3.08 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $52.69, for a total value of $10,829,797.22. Following the sale, the insider directly owned 296,992 shares in the company, valued at $15,648,508.48. This trade represents a 40.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Large investors have recently made changes to their positions in the company. Aristotle Capital Management LLC boosted its position in shares of McCormick & Company, Incorporated by 231.9% during the first quarter. Aristotle Capital Management LLC now owns 12,664,378 shares of the company's stock worth $638,795,000 after buying an additional 8,848,235 shares during the period. Geode Capital Management LLC increased its position in McCormick & Company, Incorporated by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 6,508,928 shares of the company's stock valued at $441,571,000 after acquiring an additional 59,587 shares during the period. XXEC Inc. bought a new stake in McCormick & Company, Incorporated during the 2nd quarter valued at $154,566,000. Goldman Sachs Group Inc. raised its stake in McCormick & Company, Incorporated by 60.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,659,766 shares of the company's stock valued at $113,047,000 after acquiring an additional 628,390 shares in the last quarter. Finally, Amundi boosted its position in McCormick & Company, Incorporated by 72.5% during the 1st quarter. Amundi now owns 2,023,544 shares of the company's stock worth $102,068,000 after acquiring an additional 850,343 shares during the period. Institutional investors and hedge funds own 79.74% of the company's stock.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated NYSE: MKC is a global food company that manufactures, markets and distributes spices, herbs, seasonings, condiments, sauces and other flavoring products. Its portfolio serves both retail consumers and foodservice customers, while its flavor solutions business supplies seasoning blends, natural flavors and other ingredients to food manufacturers and restaurant operators.

The company's consumer brands include McCormick, French's, Frank's RedHot, Lawry's, Old Bay and Gourmet Garden, among others.

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