Brokerages Expect McCormick & Company, Incorporated (MKC) Will Announce Quarterly Sales of $1.48 Billion

Equities analysts expect that McCormick & Company, Incorporated (NYSE:MKC) will report $1.48 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for McCormick & Company,’s earnings, with estimates ranging from $1.46 billion to $1.50 billion. McCormick & Company, reported sales of $1.23 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 20.3%. The firm is expected to report its next quarterly earnings results on Wednesday, January 24th.

On average, analysts expect that McCormick & Company, 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 fiscal year, analysts expect that the company will post sales of $5.38 billion per share, with estimates ranging from $5.26 billion to $5.46 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover McCormick & Company,.

McCormick & Company, (NYSE:MKC) last posted its quarterly earnings data on Thursday, September 28th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share.

A number of equities analysts have recently commented on MKC shares. Jefferies Group LLC set a $115.00 price objective on shares of McCormick & Company, and gave the company a “buy” rating in a research report on Saturday, October 7th. Zacks Investment Research upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research report on Monday, October 2nd. Credit Suisse Group AG restated a “buy” rating and issued a $115.00 price objective (up from $112.00) on shares of McCormick & Company, in a research report on Friday, September 29th. Stifel Nicolaus restated a “hold” rating and issued a $103.00 price objective (up from $95.00) on shares of McCormick & Company, in a research report on Monday, October 2nd. Finally, Citigroup Inc. raised their price objective on shares of McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday, October 2nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $106.00.

In other news, Director Maritza Gomez Montiel sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $96.26, for a total value of $240,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael R. Smith sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $102.60, for a total transaction of $564,300.00. Following the completion of the sale, the vice president now owns 19,248 shares of the company’s stock, valued at $1,974,844.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,000 shares of company stock valued at $1,598,490. Company insiders own 15.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Chevy Chase Trust Holdings Inc. increased its stake in shares of McCormick & Company, by 5.6% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 111,836 shares of the company’s stock worth $11,479,000 after buying an additional 5,893 shares during the period. Boothbay Fund Management LLC purchased a new position in shares of McCormick & Company, in the third quarter worth $310,000. Oppenheimer Asset Management Inc. increased its stake in shares of McCormick & Company, by 4,874.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 22,585 shares of the company’s stock worth $2,318,000 after buying an additional 22,131 shares during the period. Segall Bryant & Hamill LLC increased its stake in shares of McCormick & Company, by 1.6% in the third quarter. Segall Bryant & Hamill LLC now owns 56,922 shares of the company’s stock worth $5,842,000 after buying an additional 901 shares during the period. Finally, Saturna Capital CORP increased its stake in shares of McCormick & Company, by 0.5% in the third quarter. Saturna Capital CORP now owns 354,655 shares of the company’s stock worth $36,402,000 after buying an additional 1,735 shares during the period. 69.38% of the stock is currently owned by institutional investors.

McCormick & Company, (NYSE MKC) traded up $0.04 during mid-day trading on Friday, hitting $96.96. 782,100 shares of the stock were exchanged, compared to its average volume of 879,753. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.95 and a quick ratio of 0.47. McCormick & Company, has a one year low of $88.64 and a one year high of $106.50. The company has a market capitalization of $12,696.23, a price-to-earnings ratio of 24.41, a P/E/G ratio of 2.45 and a beta of 0.53.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th were issued a $0.47 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.94%. McCormick & Company,’s payout ratio is 51.93%.

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About McCormick & Company,

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.

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

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