JPMorgan Chase & Co. Cuts McCormick & Company, Incorporated (NYSE:MKC) Price Target to $67.00

McCormick & Company, Incorporated (NYSE:MKC) had its price objective decreased by JPMorgan Chase & Co. from $78.00 to $67.00 in a report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research firms have also weighed in on MKC. HSBC lowered their price objective on shares of McCormick & Company, Incorporated from $75.00 to $69.00 and set a “hold” rating on the stock in a research note on Friday, January 23rd. Stifel Nicolaus decreased their target price on McCormick & Company, Incorporated from $71.00 to $65.00 and set a “hold” rating on the stock in a report on Friday, January 23rd. Barclays cut their price target on McCormick & Company, Incorporated from $72.00 to $67.00 and set an “equal weight” rating for the company in a report on Monday, January 26th. UBS Group reduced their price objective on shares of McCormick & Company, Incorporated from $67.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $72.20.

McCormick & Company, Incorporated Price Performance

Shares of NYSE MKC opened at $53.05 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.70 and a quick ratio of 0.28. The business has a 50-day moving average of $63.62 and a 200-day moving average of $65.56. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 3.02 and a beta of 0.59. McCormick & Company, Incorporated has a fifty-two week low of $51.29 and a fifty-two week high of $83.15.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Thursday, January 22nd. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). McCormick & Company, Incorporated had a net margin of 11.54% and a return on equity of 14.27%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company posted $0.80 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. McCormick & Company, Incorporated has set its FY 2026 guidance at 3.050-3.130 EPS. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $67.43, for a total value of $3,371,500.00. Following the completion of the transaction, the insider owned 246,762 shares of the company’s stock, valued at approximately $16,639,161.66. This represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $67.09, for a total value of $335,450.00. Following the sale, the director directly owned 31,596 shares in the company, valued at approximately $2,119,775.64. This trade represents a 13.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 115,000 shares of company stock worth $7,947,300 in the last 90 days. Company insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On McCormick & Company, Incorporated

Several large investors have recently modified their holdings of the business. Elevation Point Wealth Partners LLC acquired a new stake in McCormick & Company, Incorporated in the second quarter valued at $27,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated in the third quarter valued at about $28,000. GoalVest Advisory LLC acquired a new stake in shares of McCormick & Company, Incorporated in the fourth quarter valued at about $28,000. Deseret Mutual Benefit Administrators raised its position in shares of McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after acquiring an additional 164 shares during the last quarter. Finally, Motiv8 Investments LLC bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth about $28,000. Institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private?label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.