TD Cowen Rates McCormick (MKC) buy, $60 Price Target

TD Cowen Backs McCormick & Company

On June 26, 2026, TD Cowen analyst Robert Moskow reiterated a Buy rating on McCormick & Company, Incorporated (NYSE: MKC) with a price target of $60.00. This call highlights TD Cowen's optimistic view on the spice and flavorings giant, even as some other Wall Street firms take a more cautious approach.

Where McCormick Stands on Wall Street

While TD Cowen was positive on the stock in late June, the broader analyst community has shown mixed feelings. By autumn, several firms adjusted their expectations. On October 2, 2026, Barclays maintained an Equal-Weight rating and lowered its price target to $47.00. UBS kept its Neutral rating with a $48.00 target on the same day. Meanwhile, BNP Paribas maintained an Outperform rating with a $65.00 target, and Stifel held its ground with a Hold rating and a $48.00 target.

Interestingly, TD Cowen itself adjusted its stance later in the year, downgrading McCormick to a Hold with a $55.00 target on September 14, 2026, before keeping that Hold rating with a revised $48.00 target on October 2. JP Morgan also adjusted its outlook on September 18, 2026, maintaining an Overweight rating with a $62.00 target. Out of 13 analyst opinions, the current consensus recommendation is a buy, with an average target price of $60.07.

McCormick Stock Performance

On Friday, McCormick shares traded at $50.42. The stock has been trading below its longer-term trend lines, with its 50-day moving average at $52.53 and its 200-day moving average at $56.29. The company's shares are currently sitting closer to the bottom of their 52-week range, which spans from $44.82 to $72.41. McCormick has a price-to-earnings ratio of 8.13 and a forward P/E of 14.83, reflecting a valuation that is drawing closer look from value-focused investors.

Recent Earnings

McCormick has shown steady top-line growth. The flavor manufacturer reported revenue of $7.39 billion, which represents a revenue growth of 0.167. The company's profitability remains healthy, showing a net margin of 0.21912001 and a return on equity of 0.24728. McCormick's earnings per share came in at $6.01. Investors are looking forward to the next quarterly earnings report, which is scheduled for October 1, 2026.

Dividend

McCormick continues to return capital to its shareholders through a regular dividend. The company pays an annual dividend rate of $1.92, which currently offers a dividend yield of 3.94%. The payout ratio is conservative at 0.3095, meaning the company uses about 31% of its earnings to cover the dividend, leaving plenty of room to sustain the payout or reinvest in operations.

Insider Buying and Selling at McCormick & Company, Incorporated

Two key company insiders showed their personal support for the stock by purchasing shares in late June. On June 29, 2026, Chief Human Relations Officer Sarah Piper bought 49 shares at $52.06 per share, totaling $2,550.94. On the very same day, Chairman, President, and CEO Brendan Foley purchased 48 shares at $52.06 each, totaling $2,498.88. Neither purchase was made under a pre-planned Rule 10b5-1 trading schedule.

Spices and Flavor Solutions

McCormick & Company manufactures and distributes spices, herbs, seasoning mixes, and condiments. The company operates through two major divisions: Consumer, which sells household brands like French's, Frank's RedHot, and Cholula, and Flavor Solutions, which provides custom flavorings to restaurant chains and food manufacturers.

What's Ahead for McCormick & Company, Incorporated

Investors will want to watch how McCormick's sales hold up in its upcoming October earnings release. While current analyst targets show a wide spread between $47.00 and $75.00, the insider purchases by the CEO and head of human relations suggest that the leadership team believes in the company's long-term path. As a reminder, analyst ratings and price targets can shift quickly as market conditions change.