McCormick & Company, Incorporated (NYSE:MKC) Rating Lowered to Sell at Wall Street Zen

McCormick & Company, Incorporated (NYSE:MKC) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

MKC has been the subject of a number of other reports. UBS Group decreased their price target on shares of McCormick & Company, Incorporated from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, August 22nd. Citigroup decreased their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, June 17th. JPMorgan Chase & Co. raised shares of McCormick & Company, Incorporated from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $69.00 to $83.00 in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus decreased 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.25.

McCormick & Company, Incorporated Stock Down 1.2%

Shares of McCormick & Company, Incorporated stock opened at $69.00 on Friday. The company has a fifty day moving average price of $70.70 and a 200 day moving average price of $74.57. The company has a current ratio of 0.68, a quick ratio of 0.27 and a debt-to-equity ratio of 0.55. McCormick & Company, Incorporated has a twelve month low of $67.71 and a twelve month high of $86.24. The stock has a market cap of $18.52 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 3.43 and a beta of 0.65.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. McCormick & Company, Incorporated had a net margin of 11.50% and a return on equity of 14.43%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the company earned $0.69 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.030-3.080 EPS. Equities research analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in shares of McCormick & Company, Incorporated by 6.3% in the 4th quarter. Cetera Investment Advisers now owns 36,248 shares of the company’s stock valued at $2,764,000 after purchasing an additional 2,142 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $726,000. Nomura Holdings Inc. raised its stake in shares of McCormick & Company, Incorporated by 59.6% in the 4th quarter. Nomura Holdings Inc. now owns 20,858 shares of the company’s stock valued at $1,590,000 after purchasing an additional 7,788 shares in the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of McCormick & Company, Incorporated in the 4th quarter valued at about $284,000. Finally, Quantinno Capital Management LP raised its stake in shares of McCormick & Company, Incorporated by 25.3% in the 4th quarter. Quantinno Capital Management LP now owns 63,988 shares of the company’s stock valued at $4,878,000 after purchasing an additional 12,937 shares in the last quarter. 79.74% of the stock is owned by hedge funds and other institutional investors.

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.