McCormick & Company, Incorporated (NYSE:MKC) Given New $71.00 Price Target at Stifel Nicolaus

Key Points

• McCormick & Company has had its price target reduced from $76.00 to $71.00 by Stifel Nicolaus, which maintains a "hold" rating for the stock.
• Multiple analysts, including UBS and Barclays, have also lowered their price targets for the company, reflecting a cautious outlook on the stock.
• The company's recent quarterly earnings report showed an EPS of $0.85, slightly exceeding analysts' expectations and indicating a revenue increase of 2.7% year-over-year.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price objective dropped by research analysts at Stifel Nicolaus from $76.00 to $71.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Stifel Nicolaus' target price suggests a potential upside of 7.92% from the company's previous close.

Several other analysts have also weighed in on MKC. UBS Group reduced their price objective on McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday. Barclays dropped their target price on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an "equal weight" rating for the company in a report on Wednesday. Sanford C. Bernstein lowered their price objective 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. Wall Street Zen cut shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Finally, Citigroup decreased their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 17th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $78.22.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded up $0.17 during mid-day trading on Wednesday, reaching $65.79. 3,825,210 shares of the company were exchanged, compared to its average volume of 3,132,863. The stock has a market capitalization of $17.66 billion, a P/E ratio of 22.32, a P/E/G ratio of 3.27 and a beta of 0.63. The company has a quick ratio of 0.27, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. McCormick & Company, Incorporated has a twelve month low of $63.66 and a twelve month high of $86.24. The company's 50-day simple moving average is $68.81 and its 200-day simple moving average is $72.69.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 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 net margin of 11.46% and a return on equity of 14.30%. McCormick & Company, Incorporated's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Institutional Trading of McCormick & Company, Incorporated

Hedge funds have recently bought and sold shares of the business. Bank of Jackson Hole Trust purchased a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $25,000. Capital Analysts LLC bought a new position in McCormick & Company, Incorporated during the first quarter valued at about $26,000. Elevation Point Wealth Partners LLC bought a new position in McCormick & Company, Incorporated during the second quarter valued at about $27,000. Zions Bancorporation National Association UT purchased a new position in McCormick & Company, Incorporated in the first quarter valued at about $28,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in McCormick & Company, Incorporated in the third quarter valued at about $28,000. 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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