Fintel reports that on December 9, 2024, Jefferies upgraded their outlook for McCormick & Company (NYSE:MKC) from Hold to Buy.
Analyst Price Forecast Suggests 13.14% Upside
As of December 2, 2024, the average one-year price target for McCormick & Company is $87.69/share. The forecasts range from a low of $68.68 to a high of $100.80. The average price target represents an increase of 13.14% from its latest reported closing price of $77.50 / share.
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The projected annual revenue for McCormick & Company is 7,231MM, an increase of 8.27%. The projected annual non-GAAP EPS is 3.46, an increase of 8.63% from the prior forecast.
What is the Fund Sentiment?
There are 1,662 funds or institutions reporting positions in McCormick & Company. This is an increase of 65 owner(s) or 4.07% in the last quarter. Average portfolio weight of all funds dedicated to MKC is 0.20%, an increase of 1.76%. Total shares owned by institutions increased in the last three months by 0.68% to 242,259K shares. 
The put/call ratio of MKC is 1.56, indicating a bearish outlook.
What are Other Shareholders Doing?
State Farm Mutual Automobile Insurance holds 16,716K shares representing 6.63% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,994K shares representing 3.17% ownership of the company. In its prior filing, the firm reported owning 7,982K shares , representing an increase of 0.16%. The firm increased its portfolio allocation in MKC by 9.14% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 6,601K shares representing 2.62% ownership of the company. In its prior filing, the firm reported owning 6,461K shares , representing an increase of 2.11%. The firm increased its portfolio allocation in MKC by 9.07% over the last quarter.
Geode Capital Management holds 5,887K shares representing 2.33% ownership of the company. In its prior filing, the firm reported owning 5,833K shares , representing an increase of 0.92%. The firm decreased its portfolio allocation in MKC by 43.45% over the last quarter.
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main holds 5,623K shares representing 2.23% ownership of the company. In its prior filing, the firm reported owning 3,390K shares , representing an increase of 39.71%. The firm decreased its portfolio allocation in MKC by 48.08% 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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