McCormick & Company, Incorporated (NYSE:MKC) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• McCormick & Company, Incorporated has received a consensus recommendation of "Moderate Buy" from analysts, with a 1-year price objective averaging $84.25.
• Recent analyst reports have shown some downgrades, including UBS lowering their price target from $83.00 to $79.00 and Wall Street Zen changing their rating from "hold" to "sell".
• The company's recent earnings report showed a quarterly EPS of $0.69, surpassing estimates, while revenue increased by 1.0% compared to the previous year.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten analysts that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $84.25.

A number of analysts have recently issued reports on the stock. UBS Group cut their price target on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. Citigroup dropped their target price on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. JPMorgan Chase & Co. upgraded shares of McCormick & Company, Incorporated from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $69.00 to $83.00 in a research note on Wednesday, August 20th. Wall Street Zen downgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Stifel Nicolaus dropped their price target on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th.

McCormick & Company, Incorporated Trading Down 4.2%

Shares of McCormick & Company, Incorporated stock opened at $66.07 on Tuesday. The firm has a market capitalization of $17.73 billion, a PE ratio of 22.94, a P/E/G ratio of 3.38 and a beta of 0.65. McCormick & Company, Incorporated has a twelve month low of $65.95 and a twelve month high of $86.24. The firm's 50-day moving average price is $70.56 and its 200 day moving average price is $74.37. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. McCormick & Company, Incorporated's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. On average, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a $0.45 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. McCormick & Company, Incorporated's payout ratio is 62.50%.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several institutional investors have recently modified their holdings of MKC. EagleClaw Capital Managment LLC grew its stake in shares of McCormick & Company, Incorporated by 0.4% in the 1st quarter. EagleClaw Capital Managment LLC now owns 36,670 shares of the company's stock worth $3,018,000 after purchasing an additional 135 shares during the last quarter. Sage Capital Advisors llc grew its stake in shares of McCormick & Company, Incorporated by 2.8% in the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock worth $413,000 after purchasing an additional 137 shares during the last quarter. ST Germain D J Co. Inc. grew its stake in shares of McCormick & Company, Incorporated by 1.8% in the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after purchasing an additional 140 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of McCormick & Company, Incorporated by 1.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 11,078 shares of the company's stock worth $912,000 after purchasing an additional 146 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in shares of McCormick & Company, Incorporated by 4.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company's stock worth $246,000 after purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company's stock.

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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