UBS Group Lowers McCormick & Company, Incorporated (NYSE:MKC) Price Target to $70.00

McCormick & Company, Incorporated (NYSE:MKC) had its price target dropped by investment analysts at UBS Group from $71.00 to $70.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 5.98% from the stock’s previous close.

A number of other brokerages have also issued reports on MKC. Stifel Nicolaus reduced their target price 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 reduced their target price 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. Weiss Ratings reiterated a “hold (c)” rating on shares of McCormick & Company, Incorporated in a research report on Saturday, September 27th. Barclays reduced their target price on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group reduced their target price on shares of McCormick & Company, Incorporated from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $78.22.

McCormick & Company, Incorporated Price Performance

NYSE:MKC opened at $66.05 on Wednesday. The firm has a market cap of $17.73 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 3.61 and a beta of 0.63. McCormick & Company, Incorporated has a 12 month low of $63.66 and a 12 month high of $86.24. The company has a quick ratio of 0.27, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $68.61 and its two-hundred day moving average price is $72.55.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. On average, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently modified their holdings of the business. IFM Investors Pty Ltd raised its stake in shares of McCormick & Company, Incorporated by 13.3% during the first quarter. IFM Investors Pty Ltd now owns 49,712 shares of the company’s stock worth $4,091,000 after buying an additional 5,829 shares during the last quarter. Sowell Financial Services LLC bought a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $260,000. Stratos Wealth Partners LTD. increased its stake in McCormick & Company, Incorporated by 5.7% in the first quarter. Stratos Wealth Partners LTD. now owns 88,287 shares of the company’s stock valued at $7,267,000 after purchasing an additional 4,771 shares in the last quarter. Retirement Guys Formula LLC bought a new stake in McCormick & Company, Incorporated in the first quarter valued at approximately $988,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in McCormick & Company, Incorporated by 10.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,524 shares of the company’s stock valued at $3,464,000 after purchasing an additional 3,877 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

About McCormick & Company, Incorporated

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.