McCormick & Company, Incorporated (NYSE:MKC) Upgraded by JPMorgan Chase & Co. to "Overweight" Rating

Key Points

• JPMorgan Chase & Co. upgraded McCormick & Company from "underweight" to "overweight," with a new price target of $83.00, reflecting a potential upside of 20.36% from the current price.
• Other brokerages have revised their price targets as well, with Citigroup lowering its target to $77.00 while maintaining a "neutral" rating.
• McCormick reported earnings of $0.69 EPS for the last quarter, slightly above analysts' expectations, and set a FY 2025 guidance of $3.030-3.080 EPS.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research note issued on Wednesday, MarketBeat reports. The firm currently has a $83.00 price target on the stock, up from their prior price target of $69.00. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 14.90% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research report on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective on the stock. Stifel Nicolaus dropped their price target on shares of 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. Citigroup dropped their price target 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. Finally, Wall Street Zen raised shares of McCormick & Company, Incorporated from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $84.25.

McCormick & Company, Incorporated Trading Up 1.6%

McCormick & Company, Incorporated stock traded up $1.1660 during trading hours on Wednesday, reaching $72.2360. 3,163,711 shares of the company's stock were exchanged, compared to its average volume of 2,263,046. 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 firm's 50 day simple moving average is $72.18 and its 200 day simple moving average is $75.42. McCormick & Company, Incorporated has a twelve month low of $68.23 and a twelve month high of $86.24. The firm has a market capitalization of $19.39 billion, a PE ratio of 25.08, a PEG ratio of 3.42 and a beta of 0.66.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The company 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 business's revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Research analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Several large investors have recently modified their holdings of the stock. Advisory Services Network LLC increased its stake in shares of McCormick & Company, Incorporated by 25.5% during the 2nd quarter. Advisory Services Network LLC now owns 4,887 shares of the company's stock worth $345,000 after purchasing an additional 993 shares during the last quarter. Nomura Holdings Inc. grew its stake in McCormick & Company, Incorporated by 101.7% in the 2nd quarter. Nomura Holdings Inc. now owns 5,462 shares of the company's stock valued at $414,000 after buying an additional 324,677 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in McCormick & Company, Incorporated by 24.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,071 shares of the company's stock valued at $157,000 after buying an additional 411 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in McCormick & Company, Incorporated in the 2nd quarter valued at approximately $50,000. Finally, Parr Mcknight Wealth Management Group LLC grew its stake in McCormick & Company, Incorporated by 2.6% in the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 16,869 shares of the company's stock valued at $1,279,000 after buying an additional 427 shares in 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.