McCormick & Company, Incorporated (NYSE:MKC) Stock Rating Lowered by Wall Street Zen

Key Points

• McCormick & Company has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, reflecting a significant change in analyst sentiment.
• UBS and Citigroup also reduced their price targets for McCormick's stock, now set at $79.00 and $77.00 respectively, while JPMorgan raised its target to $83.00.
• Despite recent downgrades, the stock still has a consensus rating of "Moderate Buy" and a price target averaging $84.25 among analysts.

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

A number of other brokerages have also weighed in on MKC. Citigroup reduced their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, June 17th. UBS Group lowered their price target on McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating on the stock in a research report on Friday, August 22nd. Stifel Nicolaus lowered their price target on McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upgraded McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $69.00 to $83.00 in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $84.25.

McCormick & Company, Incorporated Stock Performance

MKC stock traded down $2.88 during mid-day trading on Friday, reaching $66.07. The company had a trading volume of 3,202,655 shares, compared to its average volume of 2,332,523. The company has a quick ratio of 0.27, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $17.73 billion, a P/E ratio of 22.94, a P/E/G ratio of 3.38 and a beta of 0.65. McCormick & Company, Incorporated has a one year low of $65.95 and a one year high of $86.24. The stock's 50-day simple moving average is $70.70 and its two-hundred day simple moving average is $74.48.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The company's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Jackson Hole Trust acquired a new stake in McCormick & Company, Incorporated in the 2nd quarter valued at about $25,000. Capital Analysts LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter worth about $26,000. Elevation Point Wealth Partners LLC acquired a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $27,000. Zions Bancorporation National Association UT acquired a new position in shares of McCormick & Company, Incorporated in the first quarter worth about $28,000. Finally, Wayfinding Financial LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter worth about $30,000. 79.74% of the stock is 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.