Barclays Has Lowered Expectations for McCormick & Company, Incorporated (NYSE:MKC) Stock Price

Key Points

• Barclays has reduced its price target for McCormick & Company, Incorporated from $82 to $72, maintaining an "equal weight" rating, indicating a potential upside of 9.04% from the current stock price.
• Numerous other analysts have also adjusted their price targets for McCormick, with Citigroup lowering its target to $77 and JPMorgan to $82, reflecting a shift in market sentiment.
• McCormick reported an EPS of $0.85 for the last quarter, exceeding expectations, and set its FY 2025 guidance at 3.000-3.050 EPS, signaling confidence in future performance despite mixed analyst ratings.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price target lowered by stock analysts at Barclays from $82.00 to $72.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price objective indicates a potential upside of 9.04% from the stock's current price.

MKC has been the subject of a number of other reports. Citigroup cut their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research report on Tuesday, June 17th. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Jefferies Financial Group cut their price objective on shares of McCormick & Company, Incorporated from $90.00 to $84.00 and set a "buy" rating for the company in a research report on Monday, September 22nd. Wall Street Zen lowered shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Finally, Sanford C. Bernstein dropped their price target on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an "outperform" rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated currently has a consensus rating of "Hold" and an average price target of $80.63.

McCormick & Company, Incorporated Stock Up 0.6%

NYSE:MKC traded up $0.41 during mid-day trading on Wednesday, hitting $66.03. The company had a trading volume of 1,369,140 shares, compared to its average volume of 2,393,975. The business has a fifty day simple moving average of $68.81 and a 200-day simple moving average of $72.69. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24. The firm has a market capitalization of $17.72 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 3.39 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%.The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Jackson Hole Trust acquired a new position in McCormick & Company, Incorporated during the 2nd quarter worth approximately $25,000. Capital Analysts LLC bought a new stake in McCormick & Company, Incorporated during the 1st quarter worth approximately $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $27,000. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at $28,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at $28,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Company Profile

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.

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