McCormick (MKC) Gets Lower Price Target from TD Cowen Following Q2 Results

McCormick & Company, Incorporated (NYSE:MKC) will trade ex-dividend on July 6, putting it among the 10 Best July Dividend Stocks to Buy.

McCormick (MKC) Gets Lower Price Target from TD Cowen Following Q2 Results

On June 26, TD Cowen lowered its price recommendation on McCormick & Company, Incorporated (NYSE:MKC) to $60 from $64. It reiterated a Buy rating on the shares. Analyst Robert Moskow updated the firm’s model following the company’s second-quarter results. Management maintained its full-year guidance and said Americas Consumer volume is expected to return to positive growth in the fourth quarter as a result of its marketing initiatives.

Also on June 26, Bernstein lowered its price goal on McCormick to $68 from $77. It kept an Outperform rating on the stock. Analyst Alexia Howard said in a research note that while the recovery in the Flavor Solutions business could support performance for some time, the Consumer segment has been “underwhelming.”

McCormick & Company, Incorporated (NYSE:MKC) manufactures, markets, and distributes herbs, spices, seasonings, condiments, and flavors to the food and beverage industry, serving retailers, food manufacturers, and foodservice businesses.

While we acknowledge the risk and potential of MKC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MKC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: Top 10 Dividend Stocks with 10%+ Yield and Billionaire Steven Cohen’s Top 11 Dividend Stock Picks

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1