McCormick & Company, Incorporated (NYSE:MKC) Rating Increased to Hold at Wall Street Zen

Key Points

• McCormick & Company, Incorporated's stock rating has been upgraded from "sell" to "hold" by Wall Street Zen, reflecting a more positive outlook.
• The company's quarterly earnings surpassed analyst expectations, reporting $0.85 EPS against a consensus estimate of $0.82.
• Analysts have varying price targets for McCormick, with a consensus price target of $78.22, as multiple firms have adjusted their ratings and estimates recently.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Citigroup reduced 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. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McCormick & Company, Incorporated from $79.00 to $71.00 and set a "hold" rating on the stock in a research note on Wednesday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of McCormick & Company, Incorporated in a research note on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $78.22.

McCormick & Company, Incorporated Stock Up 0.9%

MKC opened at $66.70 on Friday. McCormick & Company, Incorporated has a fifty-two week low of $63.66 and a fifty-two week high of $86.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.27. The firm's fifty day moving average price is $68.53 and its two-hundred day moving average price is $72.45. The company has a market capitalization of $17.90 billion, a P/E ratio of 23.08, a P/E/G ratio of 3.83 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The business'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, analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the transaction, the insider directly owned 246,762 shares in the company, valued at approximately $16,251,745.32. This represents a 16.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 23.80% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $25,000. Capital Analysts LLC bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of McCormick & Company, Incorporated in the 2nd quarter valued at about $27,000. Zions Bancorporation National Association UT bought a new stake in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $28,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $28,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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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