McCormick & Company, Incorporated (NYSE:MKC) Upgraded by Deutsche Bank Aktiengesellschaft to Buy Rating

McCormick & Company, Incorporated (NYSE:MKC) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $75.00 target price on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 10.42% from the company’s previous close.

MKC has been the subject of several other reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $87.00 target price on shares of McCormick & Company, Incorporated in a report on Thursday. Barclays decreased their price objective on shares of McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. UBS Group dropped their target price on McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, October 14th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $78.00.

McCormick & Company, Incorporated Trading Up 1.7%

Shares of NYSE:MKC opened at $67.92 on Monday. The business has a 50-day moving average price of $65.81 and a 200-day moving average price of $69.24. The stock has a market cap of $18.23 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 4.63 and a beta of 0.62. McCormick & Company, Incorporated has a 52-week low of $62.64 and a 52-week high of $86.24. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.72 billion during 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%. McCormick & Company, Incorporated’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. Equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Activity

In other McCormick & Company, Incorporated news, CEO Brendan M. Foley sold 57,144 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the sale, the chief executive officer owned 108,652 shares in the company, valued at approximately $7,123,225.12. This represents a 34.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total value of $2,517,963.56. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 146,158 shares of company stock valued at $9,557,324. 23.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

A number of hedge funds have recently modified their holdings of MKC. Swiss Life Asset Management Ltd boosted its holdings in McCormick & Company, Incorporated by 32.8% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 60,151 shares of the company’s stock valued at $4,025,000 after purchasing an additional 14,867 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in McCormick & Company, Incorporated by 6.2% in the third quarter. CIBC Private Wealth Group LLC now owns 9,393 shares of the company’s stock worth $629,000 after acquiring an additional 547 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in McCormick & Company, Incorporated during the third quarter worth $6,255,000. First Affirmative Financial Network lifted its stake in shares of McCormick & Company, Incorporated by 3.0% in the 3rd quarter. First Affirmative Financial Network now owns 6,252 shares of the company’s stock valued at $418,000 after purchasing an additional 181 shares during the last quarter. Finally, Danske Bank A S purchased a new position in shares of McCormick & Company, Incorporated during the 3rd quarter worth $11,219,000. 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.