Brokerages expect that McCormick & Company, Incorporated (NYSE:MKC) will announce sales of $1.55 billion for the current quarter, Zacks reports. Four analysts have issued estimates for McCormick & Company, Incorporated’s earnings, with estimates ranging from $1.53 billion to $1.56 billion. McCormick & Company, Incorporated posted sales of $1.43 billion during the same quarter last year, which would indicate a positive year over year growth rate of 8.4%. The company is scheduled to report its next earnings report before the market opens on Thursday, September 30th.
On average, analysts expect that McCormick & Company, Incorporated will report full year sales of $6.27 billion for the current financial year, with estimates ranging from $6.23 billion to $6.32 billion. For the next fiscal year, analysts expect that the business will report sales of $6.34 billion, with estimates ranging from $6.20 billion to $6.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow McCormick & Company, Incorporated.
McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings results on Wednesday, June 30th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.07. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.47 billion. McCormick & Company, Incorporated had a net margin of 12.48% and a return on equity of 19.50%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS.
Shares of NYSE:MKC traded up $0.59 during mid-day trading on Friday, hitting $85.67. The stock had a trading volume of 10,566 shares, compared to its average volume of 1,244,854. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.38 and a current ratio of 0.86. The company has a market cap of $22.90 billion, a PE ratio of 30.55, a P/E/G ratio of 4.13 and a beta of 0.48. McCormick & Company, Incorporated has a 12-month low of $82.03 and a 12-month high of $101.67. The company’s 50 day moving average is $86.04 and its 200-day moving average is $87.64.
The business also recently declared a quarterly dividend, which was paid on Monday, July 26th. Shareholders of record on Monday, July 12th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, July 9th. This represents a $1.36 annualized dividend and a yield of 1.59%. McCormick & Company, Incorporated’s dividend payout ratio is 48.06%.
In other McCormick & Company, Incorporated news, Director Freeman A. Hrabowski III sold 2,870 shares of the firm’s stock in a transaction on Friday, August 20th. The shares were sold at an average price of $87.50, for a total value of $251,125.00. Following the sale, the director now directly owns 92,983 shares in the company, valued at approximately $8,136,012.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of McCormick & Company, Incorporated by 0.4% in the first quarter. BlackRock Inc. now owns 20,915,508 shares of the company’s stock worth $1,864,827,000 after acquiring an additional 89,074 shares during the last quarter. State Street Corp grew its position in shares of McCormick & Company, Incorporated by 4.6% during the 2nd quarter. State Street Corp now owns 12,736,561 shares of the company’s stock worth $1,124,893,000 after buying an additional 565,022 shares during the period. Geode Capital Management LLC grew its position in shares of McCormick & Company, Incorporated by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 4,508,500 shares of the company’s stock worth $397,109,000 after buying an additional 129,738 shares during the period. Invesco Ltd. grew its position in shares of McCormick & Company, Incorporated by 6.3% during the 2nd quarter. Invesco Ltd. now owns 2,327,315 shares of the company’s stock worth $205,551,000 after buying an additional 138,281 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of McCormick & Company, Incorporated by 21.7% during the 1st quarter. Nordea Investment Management AB now owns 1,903,635 shares of the company’s stock worth $169,633,000 after buying an additional 339,278 shares during the period. 74.10% of the stock is owned by institutional investors.
About McCormick & Company, Incorporated
McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.
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