Citi Reiterates Neutral Rating on McCormick & Company (MKC)

McCormick & Company (MKC) PT Raised to $96 at BofA Securities

October 2, 2024 6:59 AM EDT

BofA Securities analyst Peter Galbo raised the price target on McCormick & Company (NYSE: MKC) to $96.00 (from $95.00) while maintaining a Buy rating.

The analyst comments "Yesterday, MKC reported 3Q24 earnings above street driven by better gross and operating margin. MKC also raised its FY24... More

Goldman Sachs Reiterates Sell Rating on McCormick & Company (MKC)

October 2, 2024 5:34 AM EDT

Goldman Sachs analyst Adam Samuelson reiterated a Sell rating and $67.00 price target on McCormick & Company (NYSE: MKC).

The analyst comments "MKC reported adjusted FY3Q24 (Aug) EPS of $0.83, above GSe/Refinitiv consensus of $0.67. Sales of $1.68bn were 2.0% above our estimate, with constant currency sales growth of 0.0% 40bps above our -0.4% forecast and a smaller FX headwind (-0.4% vs. GSe -1.9%) the primary driver of the sales upside. Adjusted EBIT of $288mn was 9.1% above our forecasts (+$0.07), with stronger margins in both segments contributing. Gross margins of... More

McCormick & Company (MKC) PT Raised to $85 at Barclays

October 2, 2024 3:53 AM EDT

Barclays analyst Andrew Lazar raised the price target on McCormick & Company (NYSE: MKC) to $85.00 (from $76.00) while maintaining a Equalweight rating.... More

McCormick & Company (MKC) PT Raised to $86 at Jefferies

October 1, 2024 4:13 PM EDT

Jefferies analyst Rob Dickerson raised the price target on McCormick & Company (NYSE: MKC) to $86.00 (from $85.00) while maintaining a Hold rating.

The analyst comments "Positive vol/mix encouraging with momentum into Q4. MKC posted + y/y vol/mix for the first quarter in... More

CFRA Downgrades McCormick & Company (MKC) to Buy

October 1, 2024 1:10 PM EDT

CFRA analyst Arun Sundaram downgraded McCormick & Company (NYSE: MKC) from Strong Buy to Buy with a price target of $93.00 (from $88.00).

The analyst comments "We lift our 12-month target by $8 to $93, 29.1x our FY 25 (Nov.) EPS estimate of $3.20 (up from $3.16; FY 24 up to $3.00 from $2.90) and in line with its... More

McCormick & Co. (MKC) Tops Q3 EPS by 16c ; Offers Guidance

October 1, 2024 6:41 AM EDT

McCormick & Co. (NYSE: MKC) reported Q3 EPS of $0.83, $0.16 better than the analyst estimate of $0.67. Revenue for the quarter came in at $1.68 billion versus the consensus estimate of $1.67 billion.

GUIDANCE:

McCormick & Co. sees FY2024 EPS of $2.85-$2.90, versus the consensus of... More

McCormick & Co. (MKC) Reports Q3, Reaffirms FY24 Outlook

October 1, 2024 6:31 AM EDT

McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, today reported financial results for the third quarter ended August 31, 2024 and reaffirmed fiscal 2024 outlook for sales and operating profit.

Sales in the third quarter were comparable to the year-ago period, reflecting volume growth of 1%, partially offset by price. Operating income was $287 million in the third quarter compared to $245 million in the year-ago period. Adjusted operating income was $288 million compared to $251... More