Fintel reports that on October 4, 2023, B of A Securities maintained coverage of McCormick & Co., Inc. (NYSE:MKC) with a Buy recommendation.
Analyst Price Forecast Suggests 33.80% Upside
As of August 31, 2023, the average one-year price target for McCormick & Co., Inc. is 91.52. The forecasts range from a low of 66.66 to a high of $105.00. The average price target represents an increase of 33.80% from its latest reported closing price of 68.40.
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The projected annual revenue for McCormick & Co., Inc. is 6,632MM, an increase of 0.41%. The projected annual non-GAAP EPS is 2.98.
What is the Fund Sentiment?
There are 1590 funds or institutions reporting positions in McCormick & Co., Inc.. This is a decrease of 31 owner(s) or 1.91% in the last quarter. Average portfolio weight of all funds dedicated to MKC is 0.23%, a decrease of 11.67%. Total shares owned by institutions decreased in the last three months by 3.83% to 231,086K shares. 
The put/call ratio of MKC is 0.80, indicating a bullish outlook.
What are Other Shareholders Doing?
State Farm Mutual Automobile Insurance holds 16,716K shares representing 6.23% ownership of the company. No change in the last quarter.
Fundsmith LLP holds 15,467K shares representing 5.76% ownership of the company. In it's prior filing, the firm reported owning 15,499K shares, representing a decrease of 0.20%. The firm increased its portfolio allocation in MKC by 1.73% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,825K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 7,761K shares, representing an increase of 0.82%. The firm decreased its portfolio allocation in MKC by 2.48% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,972K shares representing 2.23% ownership of the company. In it's prior filing, the firm reported owning 5,851K shares, representing an increase of 2.04%. The firm decreased its portfolio allocation in MKC by 3.08% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 5,814K shares representing 2.17% ownership of the company. In it's prior filing, the firm reported owning 5,856K shares, representing a decrease of 0.72%. The firm decreased its portfolio allocation in MKC by 0.08% 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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