Analysts Anticipate McCormick & Company, Incorporated (NYSE:MKC) Will Post Quarterly Sales of $1.63 Billion

Wall Street analysts predict that McCormick & Company, Incorporated (NYSE:MKCGet Rating) will post $1.63 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided 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 would suggest a positive year-over-year growth rate of 4.5%. The business is scheduled to report its next earnings results on Monday, January 1st.

On average, 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 fiscal year, analysts expect that the business will post sales of $6.89 billion, with estimates ranging from $6.78 billion to $6.96 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover McCormick & Company, Incorporated.

McCormick & Company, Incorporated (NYSE:MKCGet Rating) last announced its quarterly earnings data on Tuesday, March 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. 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 in the prior year, the company earned $0.72 EPS. McCormick & Company, Incorporated’s revenue was up 2.8% compared to the same quarter last year.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Friday, May 20th. Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $112.00 price objective on the stock in a research report on Thursday, February 17th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft increased their target price on shares of McCormick & Company, Incorporated from $96.00 to $99.00 in a research report on Wednesday, March 30th. Finally, StockNews.com began coverage on shares of McCormick & Company, Incorporated in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $99.00.

In other McCormick & Company, Incorporated news, CFO Michael R. Smith sold 19,986 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $104.04, for a total transaction of $2,079,343.44. Following the transaction, the chief financial officer now directly owns 93,025 shares of the company’s stock, valued at $9,678,321. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 15.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA bought a new stake in McCormick & Company, Incorporated during the fourth quarter valued at $257,713,000. Norges Bank bought a new position in shares of McCormick & Company, Incorporated during the fourth quarter worth about $233,048,000. BlackRock Inc. grew its position in McCormick & Company, Incorporated by 4.7% in the 4th quarter. BlackRock Inc. now owns 20,370,004 shares of the company’s stock valued at $1,967,945,000 after buying an additional 915,428 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in McCormick & Company, Incorporated in the 1st quarter valued at about $76,003,000. Finally, Westwood Holdings Group Inc. grew its position in McCormick & Company, Incorporated by 1,132.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 810,806 shares of the company’s stock valued at $80,918,000 after buying an additional 745,042 shares in the last quarter. 74.86% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MKC stock opened at $92.94 on Friday. The firm’s 50 day moving average price is $98.78 and its 200-day moving average price is $95.89. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.32 and a current ratio of 0.73. McCormick & Company, Incorporated has a one year low of $77.85 and a one year high of $107.35. The firm has a market cap of $24.92 billion, a P/E ratio of 33.55, a P/E/G ratio of 4.63 and a beta of 0.45.

The business also recently announced a quarterly dividend, which was paid on Monday, April 25th. Investors of record on Monday, April 11th were issued a $0.37 dividend. The ex-dividend date was Friday, April 8th. This represents a $1.48 dividend on an annualized basis and a yield of 1.59%. McCormick & Company, Incorporated’s payout ratio is 53.43%.

About McCormick & Company, Incorporated (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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Earnings History and Estimates for McCormick & Company, Incorporated (NYSE:MKC)

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