Brokerages expect McCormick & Company, Incorporated (NYSE:MKC – Get Rating) to announce $1.63 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for McCormick & Company, Incorporated’s earnings, with estimates ranging from $1.60 billion to $1.67 billion. McCormick & Company, Incorporated reported sales of $1.56 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that McCormick & Company, Incorporated will report full year sales of $6.63 billion for the current financial year, with estimates ranging from $6.61 billion to $6.64 billion. For the next financial year, analysts forecast that the business will report sales of $6.89 billion, with estimates ranging from $6.78 billion to $6.96 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover McCormick & Company, Incorporated.
McCormick & Company, Incorporated (NYSE:MKC – Get Rating) last released its earnings results on Tuesday, March 29th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. McCormick & Company, Incorporated had a net margin of 11.77% and a return on equity of 18.00%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the business earned $0.72 EPS. The business’s revenue was up 2.8% on a year-over-year basis.
In other McCormick & Company, Incorporated news, insider Brendan M. Foley sold 39,970 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, January 31st. The shares were sold at an average price of $99.76, for a total transaction of $3,987,407.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Lisa Manzone sold 34,072 shares of the business’s stock in a transaction on Friday, January 28th. The stock was sold at an average price of $97.11, for a total transaction of $3,308,731.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,442 shares of company stock worth $17,127,439. 15.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. First National Bank of South Miami raised its holdings in McCormick & Company, Incorporated by 843.8% in the fourth quarter. First National Bank of South Miami now owns 302 shares of the company’s stock valued at $29,000 after acquiring an additional 270 shares in the last quarter. Confluence Wealth Services Inc. acquired a new stake in McCormick & Company, Incorporated in the fourth quarter valued at $29,000. Lumature Wealth Partners LLC raised its holdings in McCormick & Company, Incorporated by 65.3% in the fourth quarter. Lumature Wealth Partners LLC now owns 324 shares of the company’s stock valued at $31,000 after acquiring an additional 128 shares in the last quarter. Bell Investment Advisors Inc acquired a new stake in McCormick & Company, Incorporated in the third quarter valued at $32,000. Finally, Missouri Trust & Investment Co bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at $34,000. 71.82% of the stock is currently owned by hedge funds and other institutional investors.
MKC stock opened at $101.57 on Monday. McCormick & Company, Incorporated has a one year low of $77.85 and a one year high of $107.35. The stock has a market capitalization of $27.23 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 5.25 and a beta of 0.48. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.32 and a current ratio of 0.73. The company has a fifty day moving average of $99.00 and a 200-day moving average of $92.28.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 25th. Investors of record on Monday, April 11th will be issued a $0.37 dividend. The ex-dividend date is Friday, April 8th. This represents a $1.48 dividend on an annualized basis and a yield of 1.46%. McCormick & Company, Incorporated’s payout ratio is 53.43%.
McCormick & Company, Incorporated Company Profile (Get Rating)
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.
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