Wall Street brokerages expect MCCORMICK & CO /SH NV (NYSE:MKC) to post $1.31 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for MCCORMICK & CO /SH’s earnings, with the highest sales estimate coming in at $1.32 billion and the lowest estimate coming in at $1.31 billion. MCCORMICK & CO /SH reported sales of $1.33 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 1.5%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, June 27th.
According to Zacks, analysts expect that MCCORMICK & CO /SH will report full-year sales of $5.40 billion for the current year, with estimates ranging from $5.39 billion to $5.41 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.56 billion, with estimates ranging from $5.54 billion to $5.58 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow MCCORMICK & CO /SH.
MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. MCCORMICK & CO /SH had a net margin of 12.19% and a return on equity of 21.41%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share.
MKC traded up $0.12 during trading on Tuesday, hitting $156.97. The company had a trading volume of 12,007 shares, compared to its average volume of 705,517. The stock has a market capitalization of $20.72 billion, a PE ratio of 31.64, a P/E/G ratio of 3.73 and a beta of 0.24. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.78 and a quick ratio of 0.34. MCCORMICK & CO /SH has a 1-year low of $104.22 and a 1-year high of $159.57.
In related news, major shareholder Alan D. Wilson sold 90,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $140.00, for a total value of $12,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Alan D. Wilson sold 94,400 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $151.47, for a total transaction of $14,298,768.00. Following the completion of the sale, the insider now directly owns 206,553 shares in the company, valued at approximately $31,286,582.91. The disclosure for this sale can be found here. Insiders have sold 199,465 shares of company stock worth $29,224,484 over the last three months. 11.00% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC bought a new position in MCCORMICK & CO /SH in the 4th quarter valued at about $26,000. Private Ocean LLC bought a new position in MCCORMICK & CO /SH in the 1st quarter valued at about $27,000. JNBA Financial Advisors bought a new position in MCCORMICK & CO /SH in the 4th quarter valued at about $28,000. Oregon Public Employees Retirement Fund grew its position in MCCORMICK & CO /SH by 38,047.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock valued at $36,000 after buying an additional 5,038,246 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. bought a new position in MCCORMICK & CO /SH in the 1st quarter valued at about $36,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.
MCCORMICK & CO /SH Company Profile
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
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