Positive News Coverage Somewhat Unlikely to Affect MCCORMICK & Co/SH SH NV (MKC) Stock Price

News stories about MCCORMICK & Co/SH SH NV (NYSE:MKC) have trended positive on Tuesday, according to Accern Sentiment. The research group rates the sentiment of news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. MCCORMICK & Co/SH SH NV earned a media sentiment score of 0.28 on Accern’s scale. Accern also assigned headlines about the company an impact score of 46.501615918426 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

Several equities analysts have recently weighed in on MKC shares. Credit Suisse Group lifted their price objective on MCCORMICK & Co/SH SH NV from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, June 29th. Zacks Investment Research raised MCCORMICK & Co/SH SH NV from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $123.00 price objective on shares of MCCORMICK & Co/SH SH NV in a research note on Thursday, June 28th. Citigroup lifted their price objective on MCCORMICK & Co/SH SH NV from $114.00 to $117.00 and gave the company a “neutral” rating in a research note on Friday, June 29th. Finally, Vertical Group lowered MCCORMICK & Co/SH SH NV from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $114.25.

MCCORMICK & Co/SH SH NV stock opened at $121.08 on Tuesday. The company has a market cap of $15.88 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.71 and a beta of 0.57. The company has a current ratio of 0.85, a quick ratio of 0.42 and a debt-to-equity ratio of 1.47. MCCORMICK & Co/SH SH NV has a one year low of $93.70 and a one year high of $122.58.

MCCORMICK & Co/SH SH NV (NYSE:MKC) last released its quarterly earnings results on Thursday, June 28th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.93 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. MCCORMICK & Co/SH SH NV had a return on equity of 21.98% and a net margin of 15.83%. MCCORMICK & Co/SH SH NV’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 EPS. sell-side analysts expect that MCCORMICK & Co/SH SH NV will post 4.96 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 23rd. Investors of record on Monday, July 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Friday, July 6th. MCCORMICK & Co/SH SH NV’s dividend payout ratio (DPR) is presently 48.83%.

In related news, Director Alan D. Wilson sold 158,600 shares of the business’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $110.00, for a total transaction of $17,446,000.00. Following the transaction, the director now directly owns 212,894 shares of the company’s stock, valued at approximately $23,418,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael R. Smith sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $119.90, for a total value of $959,200.00. Following the transaction, the vice president now directly owns 22,759 shares in the company, valued at $2,728,804.10. The disclosure for this sale can be found here. Insiders own 19.20% of the company’s stock.

MCCORMICK & Co/SH SH NV Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

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