JPMorgan Chase & Co. Cuts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $62.00

McCormick & Company, Incorporated (NYSE:MKC) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $63.00 to $62.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 25.72% from the company’s previous close.

Several other equities research analysts have also recently commented on MKC. UBS Group boosted their target price on McCormick & Company, Incorporated from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Sanford C. Bernstein decreased their price target on McCormick & Company, Incorporated from $77.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, June 26th. Weiss Ratings upgraded McCormick & Company, Incorporated from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. TD Cowen downgraded McCormick & Company, Incorporated from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $60.00 to $55.00 in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on McCormick & Company, Incorporated from $59.00 to $60.00 and gave the company a “buy” rating in a report on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average target price of $59.90.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded down $0.38 during trading hours on Friday, hitting $49.32. 825,125 shares of the company traded hands, compared to its average volume of 3,928,618. The firm has a market cap of $13.26 billion, a P/E ratio of 8.21, a P/E/G ratio of 1.97 and a beta of 0.64. The company has a quick ratio of 0.39, a current ratio of 0.78 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $52.69 and its two-hundred day simple moving average is $51.89. McCormick & Company, Incorporated has a 1-year low of $44.82 and a 1-year high of $72.41.

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

Insiders Place Their Bets

In other news, major shareholder Lawrence Kurzius sold 205,538 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 296,992 shares in the company, valued at $15,648,508.48. This represents a 40.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.60% of the stock is currently owned by company insiders.

Institutional Trading of McCormick & Company, Incorporated

Institutional investors have recently made changes to their positions in the stock. Aristotle Capital Management LLC grew its position in McCormick & Company, Incorporated by 231.9% during the first quarter. Aristotle Capital Management LLC now owns 12,664,378 shares of the company’s stock valued at $638,795,000 after purchasing an additional 8,848,235 shares in the last quarter. Geode Capital Management LLC lifted its position in McCormick & Company, Incorporated by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 6,508,928 shares of the company’s stock worth $441,571,000 after buying an additional 59,587 shares in the last quarter. XXEC Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter valued at $154,566,000. Goldman Sachs Group Inc. boosted its stake in shares of McCormick & Company, Incorporated by 60.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,659,766 shares of the company’s stock valued at $113,047,000 after buying an additional 628,390 shares during the period. Finally, Amundi grew its holdings in shares of McCormick & Company, Incorporated by 72.5% during the 1st quarter. Amundi now owns 2,023,544 shares of the company’s stock valued at $102,068,000 after acquiring an additional 850,343 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 & 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.