Deutsche Bank Aktiengesellschaft Upgrades McCormick & Company, Incorporated (NYSE:MKC) to Buy

McCormick & Company, Incorporated (NYSE:MKC) was upgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Monday, Marketbeat reports. The brokerage presently has a $75.00 target price on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 9.76% from the company’s previous close.

A number of other brokerages also recently commented on MKC. JPMorgan Chase & Co. lowered their target price on shares of McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Barclays lowered their price objective on 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. Stifel Nicolaus cut their target price on McCormick & Company, Incorporated from $76.00 to $71.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen raised McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.00.

McCormick & Company, Incorporated Stock Down 0.2%

Shares of NYSE:MKC opened at $68.33 on Monday. The firm’s 50 day moving average price is $65.86 and its 200 day moving average price is $69.18. The stock has a market cap of $18.34 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 4.74 and a beta of 0.62. McCormick & Company, Incorporated has a fifty-two week low of $62.64 and a fifty-two 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 EPS for the quarter, topping the consensus estimate of $0.82 by $0.03. McCormick & Company, Incorporated had a net margin of 11.46% and a return on equity of 14.30%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $0.83 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. McCormick & Company, Incorporated has set its FY 2025 guidance at 3.000-3.050 EPS. As a group, equities research 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, CEO Brendan M. Foley sold 57,144 shares of the company’s 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 directly owned 108,652 shares of the company’s stock, valued at approximately $7,123,225.12. This represents a 34.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lawrence Erik Kurzius sold 39,014 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $64.54, for a total value of $2,517,963.56. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 146,158 shares of company stock valued at $9,557,324. 23.80% of the stock is owned by company insiders.

Institutional Trading of McCormick & Company, Incorporated

Several institutional investors and hedge funds have recently added to or reduced their stakes in MKC. Vanguard Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 32,427,901 shares of the company’s stock valued at $2,458,683,000 after purchasing an additional 553,862 shares during the last quarter. State Street Corp lifted its holdings in shares of McCormick & Company, Incorporated by 5.1% during the third quarter. State Street Corp now owns 15,522,816 shares of the company’s stock worth $1,038,632,000 after purchasing an additional 747,844 shares during the period. Geode Capital Management LLC grew its position in McCormick & Company, Incorporated by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 6,375,983 shares of the company’s stock valued at $481,354,000 after buying an additional 133,800 shares during the last quarter. Invesco Ltd. increased its stake in McCormick & Company, Incorporated by 66.7% in the 3rd quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock valued at $417,006,000 after buying an additional 2,494,544 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its stake in McCormick & Company, Incorporated by 28.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock valued at $340,406,000 after buying an additional 920,618 shares during the period. 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.