Jefferies Financial Group Cuts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $78.00

Key Points

• Jefferies Financial Group has reduced its price target for McCormick & Company, Incorporated from $84.00 to $78.00, maintaining a "buy" rating.
• Other analysts, including UBS and Citigroup, have also lowered their price targets for the stock while assigning "neutral" ratings.
• McCormick's recent earnings report showed an EPS of $0.85, exceeding the consensus estimate, with a revenue increase of 2.7% year-over-year.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price objective dropped by investment analysts at Jefferies Financial Group from $84.00 to $78.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 18.56% from the company's previous close.

A number of other research firms have also recently commented on MKC. UBS Group decreased their price target on McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating for the company in a research note on Wednesday. Citigroup decreased their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. JPMorgan Chase & Co. reduced their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Stifel Nicolaus decreased their price objective on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a "hold" rating on the stock in a report on Wednesday. Finally, Barclays lowered their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an "equal weight" rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $78.22.

McCormick & Company, Incorporated Stock Up 0.3%

Shares of McCormick & Company, Incorporated stock traded up $0.17 during trading on Wednesday, hitting $65.79. 3,825,210 shares of the stock traded hands, compared to its average volume of 3,132,863. The company has a current ratio of 0.71, a quick ratio of 0.27 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a 52-week low of $63.66 and a 52-week high of $86.24. The stock's fifty day simple moving average is $68.81 and its 200 day simple moving average is $72.69. The firm has a market cap of $17.66 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 3.27 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter in the prior year, the company earned $0.83 EPS. The company's revenue was up 2.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EagleClaw Capital Managment LLC increased its position in McCormick & Company, Incorporated by 0.4% during the first quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company's stock worth $3,018,000 after buying an additional 135 shares during the period. SBI Securities Co. Ltd. increased its position in McCormick & Company, Incorporated by 4.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company's stock valued at $246,000 after acquiring an additional 148 shares during the period. Raab & Moskowitz Asset Management LLC lifted its holdings in shares of McCormick & Company, Incorporated by 5.0% during the first quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company's stock worth $289,000 after purchasing an additional 167 shares during the period. Horizon Investments LLC raised its position in McCormick & Company, Incorporated by 5.0% during the 1st quarter. Horizon Investments LLC now owns 3,621 shares of the company's stock worth $296,000 after buying an additional 173 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in McCormick & Company, Incorporated by 13.2% in the 2nd quarter. ORG Partners LLC now owns 1,484 shares of the company's stock valued at $115,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

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.

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