McCormick & Company, Incorporated (NYSE:MKC) Receives "Hold (C-)" Rating from Weiss Ratings

Key Points

• Investment analysts at Weiss Ratings have restated McCormick & Company, Incorporated's stock rating as "hold (C-)," with an average target price consensus of $78.22.
• The company's recent earnings report showed a profit of $0.85 EPS for the quarter, surpassing analysts' expectations of $0.82 and marking a 2.7% year-over-year revenue increase.
• Major shareholder Lawrence Erik Kurzius sold 50,000 shares of the company, reducing his ownership by 16.85%, with a total sale value of approximately $3.29 million.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report)'s stock had its "hold (c-)" rating restated by investment analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Several other brokerages have also recently commented on MKC. Stifel Nicolaus decreased their price target on shares of McCormick & Company, Incorporated from $76.00 to $71.00 and set a "hold" rating on the stock in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their price target 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, October 8th. 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. UBS Group decreased their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 8th. Finally, Barclays decreased their price target 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, October 8th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $78.22.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock traded up $0.72 during mid-day trading on Tuesday, reaching $65.63. 1,213,085 shares of the company's stock traded hands, compared to its average volume of 2,402,913. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.29 and a current ratio of 0.71. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The firm has a 50 day moving average price of $68.44 and a two-hundred day moving average price of $72.22. The firm has a market capitalization of $17.61 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 3.86 and a beta of 0.63.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its earnings results 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 11.46% and a return on equity of 14.30%. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter in the previous year, the company earned $0.83 EPS. McCormick & Company, Incorporated'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. On average, research analysts forecast that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total value of $3,293,000.00. Following the completion of the transaction, the insider owned 246,762 shares of the company's stock, valued at approximately $16,251,745.32. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 23.80% of the company's stock.

Institutional Trading of McCormick & Company, Incorporated

Several large investors have recently bought and sold shares of MKC. Wealth Enhancement Advisory Services LLC boosted its holdings in McCormick & Company, Incorporated by 1.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 131,310 shares of the company's stock valued at $10,808,000 after purchasing an additional 1,695 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in McCormick & Company, Incorporated by 2.3% in the 1st quarter. Ritholtz Wealth Management now owns 20,247 shares of the company's stock valued at $1,667,000 after purchasing an additional 462 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in McCormick & Company, Incorporated by 1,256.9% in the 1st quarter. Sound Income Strategies LLC now owns 882 shares of the company's stock valued at $73,000 after purchasing an additional 817 shares during the last quarter. Brighton Jones LLC acquired a new position in McCormick & Company, Incorporated in the 1st quarter valued at about $244,000. Finally, Mission Wealth Management LP boosted its holdings in McCormick & Company, Incorporated by 3.9% in the 1st quarter. Mission Wealth Management LP now owns 13,457 shares of the company's stock valued at $1,108,000 after purchasing an additional 502 shares during the last quarter. Hedge funds and other institutional investors 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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