$1.48 Billion in Sales Expected for McCormick & Company, Incorporated (MKC) This Quarter

Wall Street brokerages expect that McCormick & Company, Incorporated (NYSE:MKC) will report $1.48 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for McCormick & Company, Incorporated’s earnings. The lowest sales estimate is $1.46 billion and the highest is $1.50 billion. McCormick & Company, Incorporated posted sales of $1.23 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.3%. The business is expected to announce its next earnings report on Wednesday, January 24th.

On average, analysts expect that McCormick & Company, Incorporated will report full year sales of $1.48 billion for the current year, with estimates ranging from $4.81 billion to $4.84 billion. For the next financial year, analysts expect that the business will report sales of $5.38 billion per share, with estimates ranging from $5.26 billion to $5.46 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for McCormick & Company, Incorporated.

A number of equities research analysts have commented on MKC shares. Zacks Investment Research cut McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Credit Suisse Group raised their price objective on McCormick & Company, Incorporated from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Monday, September 18th. Jefferies Group set a $120.00 target price on McCormick & Company, Incorporated and gave the company a “buy” rating in a report on Monday, October 30th. Citigroup raised their target price on McCormick & Company, Incorporated from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $103.00 target price (up previously from $95.00) on shares of McCormick & Company, Incorporated in a report on Monday, October 2nd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $106.67.

McCormick & Company, Incorporated (NYSE:MKC) traded up $0.24 during midday trading on Thursday, reaching $101.47. The company had a trading volume of 821,600 shares, compared to its average volume of 845,000. McCormick & Company, Incorporated has a fifty-two week low of $89.65 and a fifty-two week high of $106.50. The firm has a market capitalization of $13,260.83, a PE ratio of 28.03, a P/E/G ratio of 2.28 and a beta of 0.53. The company has a quick ratio of 0.47, a current ratio of 0.95 and a debt-to-equity ratio of 1.86.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from McCormick & Company, Incorporated’s previous quarterly dividend of $0.47. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 57.46%.

In other news, Director Freeman A. Hrabowski III sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $98.68, for a total value of $296,040.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Monday, October 30th. The stock was sold at an average price of $99.50, for a total value of $497,500.00. Following the sale, the director now owns 18,825 shares in the company, valued at $1,873,087.50. The disclosure for this sale can be found here. Insiders sold 10,500 shares of company stock worth $1,034,190 in the last 90 days. Corporate insiders own 15.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of MKC. Zions Bancorporation lifted its holdings in McCormick & Company, Incorporated by 5,071.4% during the third quarter. Zions Bancorporation now owns 1,086 shares of the company’s stock worth $111,000 after acquiring an additional 1,065 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in McCormick & Company, Incorporated by 136.6% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 1,500 shares of the company’s stock worth $154,000 after acquiring an additional 866 shares during the period. BlueMountain Capital Management LLC lifted its holdings in McCormick & Company, Incorporated by 1,600.0% during the second quarter. BlueMountain Capital Management LLC now owns 1,717 shares of the company’s stock worth $167,000 after acquiring an additional 1,616 shares during the period. Dupont Capital Management Corp bought a new stake in McCormick & Company, Incorporated during the third quarter worth $173,000. Finally, YorkBridge Wealth Partners LLC bought a new stake in McCormick & Company, Incorporated during the third quarter worth $174,000. Institutional investors and hedge funds own 76.14% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “$1.48 Billion in Sales Expected for McCormick & Company, Incorporated (MKC) This Quarter” was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.com-unik.info/2018/01/04/1-48-billion-in-sales-expected-for-mccormick-company-incorporated-mkc-this-quarter.html.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

Get a free copy of the Zacks research report on McCormick & Company, Incorporated (MKC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

What are top analysts saying about McCormick & Company Incorporated? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for McCormick & Company Incorporated and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit