UBS Group Issues Pessimistic Forecast for McCormick & Company, Incorporated (NYSE:MKC) Stock Price

Key Points

• UBS Group has lowered its price target for McCormick & Company stock from $71.00 to $70.00, maintaining a "neutral" rating, indicating a potential upside of 6.40% from the previous close.
• Several analysts have revised their ratings on McCormick, with Wall Street Zen downgrading it to "sell" and Barclays decreasing their target from $82.00 to $72.00.
• Despite recent downgrades, McCormick reported a better-than-expected quarterly earnings of $0.85 per share, topping analyst estimates, and has set FY 2025 guidance at 3.000-3.050 EPS.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) had its price objective decreased by stock analysts at UBS Group from $71.00 to $70.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's target price suggests a potential upside of 6.40% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut McCormick & Company, Incorporated from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Barclays reduced their price target on McCormick & Company, Incorporated from $82.00 to $72.00 and set an "equal weight" rating for the company in a report on Wednesday. Sanford C. Bernstein cut their price objective on shares of McCormick & Company, Incorporated from $102.00 to $93.00 and set an "outperform" rating for the company in a research report on Wednesday. Stifel Nicolaus cut their price objective on shares of McCormick & Company, Incorporated from $82.00 to $76.00 and set a "hold" rating for the company in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $78.22.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock traded up $0.17 during midday trading on Wednesday, reaching $65.79. 3,825,210 shares of the company's stock were exchanged, compared to its average volume of 3,132,863. McCormick & Company, Incorporated has a 52 week low of $63.66 and a 52 week high of $86.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.27 and a current ratio of 0.71. The firm has a market cap of $17.66 billion, a price-to-earnings ratio of 22.32, a P/E/G ratio of 3.27 and a beta of 0.63. The stock's 50-day simple moving average is $68.81 and its 200 day simple moving average is $72.69.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last posted its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.03. McCormick & Company, Incorporated had a return on equity of 14.30% and a net margin of 11.46%.The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter last year, the company posted $0.83 earnings per share. McCormick & Company, Incorporated's quarterly revenue 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, analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of hedge funds and other institutional investors have recently made changes to their positions in MKC. Norges Bank acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $249,087,000. Alyeska Investment Group L.P. raised its position in shares of McCormick & Company, Incorporated by 1,360.5% in the first quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company's stock valued at $129,647,000 after buying an additional 1,467,254 shares in the last quarter. Invesco Ltd. raised its position in McCormick & Company, Incorporated by 44.9% during the second quarter. Invesco Ltd. now owns 3,737,793 shares of the company's stock valued at $283,399,000 after purchasing an additional 1,158,423 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in McCormick & Company, Incorporated by 28.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company's stock valued at $340,406,000 after purchasing an additional 920,618 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt raised its position in McCormick & Company, Incorporated by 94.7% during the second quarter. Alecta Tjanstepension Omsesidigt now owns 1,779,000 shares of the company's stock valued at $134,795,000 after purchasing an additional 865,500 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.

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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