Bernstein Rates McCormick (MKC) buy, $68 Price Target

Bernstein Analyst Stands by McCormick

On Friday, Bernstein analyst Alexia Howard reiterated a Buy rating on McCormick & Company, Incorporated (NYSE: MKC), setting a price target of $68.00. This reaffirmation on June 26, 2026, suggests significant upside from the current trading price. The firm's bullish stance comes at a time when several other Wall Street analysts have been more cautious, often maintaining neutral ratings or lowering their expectations for the spice and seasoning manufacturer.

McCormick Stock Performance and Valuation

McCormick shares were trading at $52.06 on Friday. The stock has experienced some volatility over the past year, trading in a range between $44.82 and $72.41. Currently, the shares are trading slightly below their 50-day moving average of $52.53 and under the 200-day moving average of $56.29. With a price-to-earnings (P/E) ratio of 8.13, the company is trading at a valuation that may appear attractive to value-oriented investors, especially compared to its forward P/E of 14.83.

Recent Earnings and Growth

McCormick reported revenue of $7.39 billion, showing a revenue growth rate of 16.7%. The company maintains a healthy net margin of 21.9% and a return on equity of 24.7%. These figures reflect the company's ability to maintain profitability despite broader inflationary pressures in the packaged foods industry. Investors are looking ahead to the next earnings report, which is expected on October 1, 2026.

Dividend Payments

For those focused on income, McCormick offers a steady dividend. The company pays an annual dividend rate of $1.92 per share, which results in a dividend yield of 3.94%. The payout ratio stands at a conservative 30.95%, suggesting the company has ample room to maintain its payments to shareholders while reinvesting in its operations.

Insider Buying and Selling at McCormick & Company, Incorporated

There has been recent activity from the company's top leadership. On June 29, 2026, Sarah Piper, the Chief Human Relations Officer, purchased 49 shares at a price of $52.06. On the same day, Chairman, President, and CEO Brendan Foley also bought 48 shares at $52.06. While these transactions were relatively small, valued at $2,550 and $2,498 respectively, they represent open-market purchases by key insiders rather than scheduled plan executions.

Analysts Set New Price Targets

While Bernstein remains optimistic, other firms have recently adjusted their outlooks. On October 2, 2026, Barclays maintained an Equal-Weight rating but lowered its target to $47.00 from $55.00. UBS and TD Cowen also kept neutral or hold ratings with targets of $48.00. On the more positive side, BNP Paribas maintained an Outperform rating on October 2, though it lowered its target from $75.00 to $65.00. JP Morgan holds an Overweight rating with a $62.00 target as of September 18, 2026. The current consensus among 13 analysts is a Buy, with an average price target of $60.08.

About McCormick & Company

McCormick & Company is a global leader in flavor, manufacturing and distributing spices, seasoning mixes, and condiments. You likely know them through household brands like French's, Frank's RedHot, and Old Bay. They serve both everyday home cooks through grocery stores and large-scale food manufacturers through their flavor solutions segment.

Looking Forward

The reiteration from Bernstein highlights a belief that McCormick's brand strength can overcome recent market headwinds. Shareholders should keep an eye on the upcoming October 1 earnings release to see if the company's financial performance aligns with these higher price targets. As always, analyst ratings and price targets are projections and not guarantees of future stock movement.