McCormick & Co. (MKC) witnessed multiple brokerage price target cuts following its third-quarter (Q3) results on Tuesday, as Wall Street turned cautious about the company's margin pressure forecast due to U.S. President Donald Trump's tariffs.

JPMorgan lowered its price target for the MKC stock to $79 from $82 and maintained an 'Overweight' rating, according to TheFly. The firm believes "mounting" tariff pressures could limit McCormick's earnings growth next year.

Bernstein analyst Alexia Howard cut the firm's price target on McCormick to $93 from $102 and kept an 'Outperform' rating. Howard noted that McCormick's Q3 results and outlook were a mixed bag, adding that its Flavor Solutions segment remains under pressure as larger consumer packaged goods players continue to see sales declines.

Retail sentiment on McCormick trended lower to enter the 'bullish' territory from 'extremely bullish' a day ago, with message volumes at 'extremely high' levels, according to Stocktwits data. The retail user message count on the stock increased by 114% in the last 24 hours on the platform.

McCormick CEO Brendan Foley said on Tuesday that due to the dynamic global trade environment, the company's gross margin was further pressured by rising costs.“We are absorbing some incremental costs this year, which has a near-term impact on our profitability,” Foley said.

Bank of America also lowered its price target to $89 from $96 but noted that McCormick continues to be "one of the few packaged food companies" to both deliver organic sales and volume growth, which "continues to have scarcity value."

Barclays analyst Andrew Lazar said that with tariff mitigation actions building, McCormick enters this period from a relative position of strength. Barclays lowered its price target on McCormick to $72 from $82 and maintained an 'Equal Weight' rating.

McCormick shares have fallen nearly 18% in the last 12 months.

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