TD Cowen Downgrades McCormick & Company, Incorporated (NYSE:MKC) to Hold

McCormick & Company, Incorporated (NYSE:MKC) was downgraded by TD Cowen from a “buy” rating to a “hold” rating in a research report issued on Monday, Briefing.com reports. They presently have a $55.00 price objective on the stock. TD Cowen’s price target suggests a potential upside of 7.11% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, June 12th. Deutsche Bank Aktiengesellschaft upped their price target on McCormick & Company, Incorporated from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Jefferies Financial Group dropped their price objective on McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, June 4th. Weiss Ratings upgraded McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. Finally, Sanford C. Bernstein lowered their target price on McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, June 26th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.00.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $51.35 on Monday. The firm has a market capitalization of $13.81 billion, a P/E ratio of 8.54, a PEG ratio of 2.02 and a beta of 0.64. McCormick & Company, Incorporated has a one year low of $44.82 and a one year high of $72.41. The company’s fifty day moving average is $52.84 and its two-hundred day moving average is $52.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.39 and a current ratio of 0.78.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. McCormick & Company, Incorporated had a net margin of 21.91% and a return on equity of 12.78%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the firm posted $0.69 EPS. The business’s revenue was up 16.7% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. Analysts forecast that McCormick & Company, Incorporated will post 3.08 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Lawrence Kurzius sold 205,538 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $52.69, for a total value of $10,829,797.22. Following the sale, the insider owned 296,992 shares of the company’s stock, valued at approximately $15,648,508.48. This represents a 40.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in McCormick & Company, Incorporated by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,678 shares of the company’s stock worth $2,854,000 after purchasing an additional 925 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of McCormick & Company, Incorporated by 19.0% during the 1st quarter. Empowered Funds LLC now owns 5,903 shares of the company’s stock worth $486,000 after purchasing an additional 941 shares during the last quarter. Woodline Partners LP grew its holdings in shares of McCormick & Company, Incorporated by 40.9% during the first quarter. Woodline Partners LP now owns 21,334 shares of the company’s stock worth $1,756,000 after buying an additional 6,189 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of McCormick & Company, Incorporated during the second quarter worth about $6,520,000. Finally, Daiwa Securities Group Inc. raised its position in shares of McCormick & Company, Incorporated by 6.1% in the second quarter. Daiwa Securities Group Inc. now owns 37,888 shares of the company’s stock valued at $2,873,000 after buying an additional 2,176 shares during the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated (NYSE:MKC) is a global food company that manufactures, markets and distributes spices, herbs, seasonings, condiments, sauces and other flavoring products. Its portfolio serves both retail consumers and foodservice customers, while its flavor solutions business supplies seasoning blends, natural flavors and other ingredients to food manufacturers and restaurant operators.

The company’s consumer brands include McCormick, French’s, Frank’s RedHot, Lawry’s, Old Bay and Gourmet Garden, among others.