Brokerages predict that MCCORMICK & CO /SH NV (NYSE:MKC) will report sales of $1.31 billion for the current quarter, Zacks reports. Three analysts have made estimates for MCCORMICK & CO /SH’s earnings. The highest sales estimate is $1.32 billion and the lowest is $1.31 billion. MCCORMICK & CO /SH reported sales of $1.33 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1.5%. The company is scheduled to announce its next earnings results on Thursday, June 27th.
On average, analysts expect that MCCORMICK & CO /SH will report full-year sales of $5.40 billion for the current fiscal year, with estimates ranging from $5.39 billion to $5.41 billion. For the next financial year, analysts forecast that the firm will report sales of $5.56 billion, with estimates ranging from $5.54 billion to $5.58 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover MCCORMICK & CO /SH.
MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. MCCORMICK & CO /SH had a return on equity of 21.41% and a net margin of 12.19%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $1.00 EPS.
Several brokerages recently issued reports on MKC. Zacks Investment Research upgraded MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a report on Tuesday, April 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $150.00 price objective on shares of MCCORMICK & CO /SH in a report on Tuesday, March 26th. Consumer Edge upgraded MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a report on Friday, January 25th. Finally, Deutsche Bank upgraded MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $132.57.
Shares of NYSE MKC opened at $153.73 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.78 and a quick ratio of 0.34. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 3.68 and a beta of 0.26. MCCORMICK & CO /SH has a 1 year low of $99.53 and a 1 year high of $157.00.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $2.28 annualized dividend and a dividend yield of 1.48%. MCCORMICK & CO /SH’s dividend payout ratio is 45.88%.
In other MCCORMICK & CO /SH news, major shareholder Alan D. Wilson sold 94,400 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $151.47, for a total transaction of $14,298,768.00. Following the transaction, the insider now directly owns 206,553 shares in the company, valued at $31,286,582.91. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Christina M. Mcmullen sold 2,000 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $154.00, for a total value of $308,000.00. Following the transaction, the vice president now owns 3,211 shares in the company, valued at $494,494. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,600 shares of company stock valued at $28,628,076. 11.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MKC. GYL Financial Synergies LLC acquired a new stake in MCCORMICK & CO /SH during the first quarter worth about $915,000. Advisory Services Network LLC raised its holdings in shares of MCCORMICK & CO /SH by 12.4% in the 1st quarter. Advisory Services Network LLC now owns 2,859 shares of the company’s stock valued at $430,000 after purchasing an additional 315 shares during the period. Nordea Investment Management AB raised its holdings in shares of MCCORMICK & CO /SH by 233.6% in the 1st quarter. Nordea Investment Management AB now owns 264,980 shares of the company’s stock valued at $39,915,000 after purchasing an additional 185,547 shares during the period. B. Riley Wealth Management Inc. bought a new stake in shares of MCCORMICK & CO /SH in the 1st quarter valued at about $244,000. Finally, Kiwi Wealth Investments Limited Partnership raised its holdings in shares of MCCORMICK & CO /SH by 151.4% in the 1st quarter. Kiwi Wealth Investments Limited Partnership now owns 44,658 shares of the company’s stock valued at $6,727,000 after purchasing an additional 26,897 shares during the period. Institutional investors own 80.43% of the company’s stock.
MCCORMICK & CO /SH Company Profile
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
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