Fintel reports that on June 12, 2024, Citigroup upgraded their outlook for McCormick & Company (NYSE:MKC) from Sell to Neutral.
Analyst Price Forecast Suggests 12.98% Upside
As of June 12, 2024, the average one-year price target for McCormick & Company is 78.19. The forecasts range from a low of 66.66 to a high of $96.60. The average price target represents an increase of 12.98% from its latest reported closing price of 69.20.
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The projected annual revenue for McCormick & Company is 6,805MM, an increase of 1.58%. The projected annual non-GAAP EPS is 3.19.
What is the Fund Sentiment?
There are 1,631 funds or institutions reporting positions in McCormick & Company. This is an increase of 13 owner(s) or 0.80% in the last quarter. Average portfolio weight of all funds dedicated to MKC is 0.21%, an increase of 9.42%. Total shares owned by institutions increased in the last three months by 1.42% to 240,941K shares. 
The put/call ratio of MKC is 1.23, indicating a bearish outlook.
What are Other Shareholders Doing?
State Farm Mutual Automobile Insurance holds 16,716K shares representing 6.28% ownership of the company. No change in the last quarter.
Fundsmith LLP holds 12,230K shares representing 4.60% ownership of the company. In its prior filing, the firm reported owning 15,090K shares , representing a decrease of 23.39%. The firm decreased its portfolio allocation in MKC by 14.94% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,906K shares representing 2.97% ownership of the company. In its prior filing, the firm reported owning 7,884K shares , representing an increase of 0.27%. The firm increased its portfolio allocation in MKC by 2.62% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 6,337K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 6,138K shares , representing an increase of 3.13%. The firm increased its portfolio allocation in MKC by 2.18% over the last quarter.
Geode Capital Management holds 5,712K shares representing 2.15% ownership of the company. In its prior filing, the firm reported owning 5,530K shares , representing an increase of 3.19%. The firm increased its portfolio allocation in MKC by 2.50% over the last quarter.
McCormick Background Information
(This description is provided by the company.)
McCormick & Company, Incorporated is a global leader in flavor. With over $5 billion in annual sales across 160 countries and territories, the company manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry including e-commerce channels, grocery, food manufacturers and foodservice businesses. Its most popular brands include McCormick, French's, Frank's RedHot, Stubb's, OLD BAY, Lawry's, Zatarain's, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club House, Aeroplane and Gourmet Garden. Every day, no matter where or what you eat or drink, you can enjoy food flavored by McCormick.
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