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

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

MKC has been the subject of several other reports. Barclays lowered their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. JPMorgan Chase & Co. lowered their price objective on McCormick & Company, Incorporated from $83.00 to $82.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $78.00.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock opened at $67.92 on Monday. The stock has a market capitalization of $18.23 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 4.63 and a beta of 0.62. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.71 and a quick ratio of 0.29. The business has a 50-day moving average of $65.81 and a 200 day moving average of $69.24. McCormick & Company, Incorporated has a 12 month low of $62.64 and a 12 month high of $86.24.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Tuesday, October 7th. The company reported $0.85 earnings per share (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 business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the company earned $0.83 earnings per share. The business’s quarterly 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, sell-side analysts forecast that McCormick & Company, Incorporated will post 3.07 earnings per share for the current year.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, CEO Brendan M. Foley sold 57,144 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $65.86, for a total transaction of $3,293,000.00. Following the completion of the sale, the insider owned 246,762 shares of the company’s stock, valued at $16,251,745.32. This trade represents a 16.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,158 shares of company stock worth $9,557,324 over the last three months. 23.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $249,087,000. Invesco Ltd. grew its position in McCormick & Company, Incorporated by 66.7% during the third quarter. Invesco Ltd. now owns 6,232,337 shares of the company’s stock valued at $417,006,000 after acquiring an additional 2,494,544 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of McCormick & Company, Incorporated by 1,360.5% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,575,104 shares of the company’s stock worth $129,647,000 after purchasing an additional 1,467,254 shares during the period. Wellington Management Group LLP increased its position in McCormick & Company, Incorporated by 67.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,797,533 shares of the company’s stock worth $187,183,000 after purchasing an additional 1,124,003 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of McCormick & Company, Incorporated by 28.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,135,648 shares of the company’s stock worth $340,406,000 after acquiring an additional 920,618 shares in the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

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.