McCormick & Company, Incorporated (NYSE:MKC) Price Target Lowered to $71.00 at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank has lowered its price target for McCormick & Company from $79.00 to $71.00, maintaining a "hold" rating on the stock.
• Other research firms have also adjusted their targets, with UBS cutting its price target to $70.00 and Citigroup to $77.00, while the overall rating remains mixed with four "buy" ratings and seven "hold" ratings.
• McCormick reported quarterly earnings of $0.85 per share, surpassing analyst expectations, and its revenue rose by 2.7% year-over-year to $1.72 billion.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price target decreased by investment analysts at Deutsche Bank Aktiengesellschaft from $79.00 to $71.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's price target points to a potential upside of 7.84% from the stock's previous close.

Several other research firms have also commented on MKC. UBS Group reduced their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Citigroup cut their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 17th. Wall Street Zen downgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of McCormick & Company, Incorporated in a research report on Saturday, September 27th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $78.22.

McCormick & Company, Incorporated Trading Up 0.3%

MKC traded up $0.22 on Wednesday, reaching $65.84. 2,991,192 shares of the company traded hands, compared to its average volume of 2,400,202. McCormick & Company, Incorporated has a one year low of $63.66 and a one year high of $86.24. The firm has a fifty day simple moving average of $68.81 and a two-hundred day simple moving average of $72.69. The company has a market cap of $17.67 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 3.39 and a beta of 0.63. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

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 for the quarter, beating analysts' consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business posted $0.83 EPS. The firm's revenue for the quarter 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. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Institutional Trading of McCormick & Company, Incorporated

Several institutional investors and hedge funds have recently bought and sold shares of the business. EagleClaw Capital Managment LLC lifted its stake in McCormick & Company, Incorporated by 0.4% during the 1st quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company's stock valued at $3,018,000 after acquiring an additional 135 shares during the period. SBI Securities Co. Ltd. lifted its stake in McCormick & Company, Incorporated by 4.8% during 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 stake in shares of McCormick & Company, Incorporated by 5.0% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 3,506 shares of the company's stock valued at $289,000 after purchasing an additional 167 shares during the period. Horizon Investments LLC lifted its stake in shares of McCormick & Company, Incorporated by 5.0% in the 1st quarter. Horizon Investments LLC now owns 3,621 shares of the company's stock valued at $296,000 after purchasing an additional 173 shares during the period. Finally, ORG Partners LLC lifted its stake in shares of 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 during the period. 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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