McCormick & Company, Incorporated (NYSE:MKC) Price Target Cut to $93.00 by Analysts at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein has cut McCormick & Company’s price target from $102.00 to $93.00, maintaining an "outperform" rating, which suggests a possible 42.31% upside from the previous close.
• Other analysts have adjusted their price targets lower, including UBS Group (from $79.00 to $71.00) and Jefferies Financial Group (from $90.00 to $84.00), indicating a cautious outlook on the stock.
• 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.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price target dropped by equities researchers at Sanford C. Bernstein from $102.00 to $93.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Sanford C. Bernstein's price objective would suggest a potential upside of 42.31% from the company's previous close.

Other analysts also recently issued research reports about the company. UBS Group cut their target price on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a "neutral" rating for the company in a research note on Wednesday, October 1st. Jefferies Financial Group reduced their price objective on McCormick & Company, Incorporated from $90.00 to $84.00 and set a "buy" rating on the stock in a research note on Monday, September 22nd. Stifel Nicolaus dropped their target price on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. JPMorgan Chase & Co. lowered their price target on McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Finally, Wall Street Zen downgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $81.88.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE MKC traded down $0.27 during midday trading on Wednesday, hitting $65.35. 949,896 shares of the company's stock traded hands, compared to its average volume of 2,391,415. The firm has a fifty day moving average of $68.81 and a 200 day moving average of $72.69. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.27 and a current ratio of 0.68. The stock has a market capitalization of $17.54 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 3.39 and a beta of 0.63. McCormick & Company, Incorporated has a 1 year low of $63.66 and a 1 year high of $86.24.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MKC. Czech National Bank raised its holdings in shares of McCormick & Company, Incorporated by 4.1% during the third quarter. Czech National Bank now owns 64,268 shares of the company's stock worth $4,300,000 after purchasing an additional 2,504 shares during the last quarter. Spring Capital Management LLC grew its position in McCormick & Company, Incorporated by 8.7% during the 3rd quarter. Spring Capital Management LLC now owns 66,111 shares of the company's stock worth $4,423,000 after purchasing an additional 5,266 shares during the period. Ransom Advisory Ltd raised its stake in shares of McCormick & Company, Incorporated by 136.2% during the 3rd quarter. Ransom Advisory Ltd now owns 4,465 shares of the company's stock valued at $299,000 after buying an additional 2,575 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new position in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $28,000. Finally, Corient Private Wealth LLC boosted its stake in shares of McCormick & Company, Incorporated by 6.0% in the second quarter. Corient Private Wealth LLC now owns 496,100 shares of the company's stock worth $37,614,000 after buying an additional 28,145 shares during the last quarter. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

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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