Brokerages expect that MCCORMICK & CO /SH NV (NYSE:MKC) will report earnings per share (EPS) of $1.64 for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for MCCORMICK & CO /SH’s earnings. The lowest EPS estimate is $1.61 and the highest is $1.67. MCCORMICK & CO /SH posted earnings per share of $1.67 during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.8%. The firm is expected to announce its next earnings results on Thursday, January 23rd.
On average, analysts expect that MCCORMICK & CO /SH will report full-year earnings of $5.38 per share for the current financial year, with EPS estimates ranging from $5.35 to $5.41. For the next fiscal year, analysts expect that the business will post earnings of $5.65 per share, with EPS estimates ranging from $5.59 to $5.72. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that cover MCCORMICK & CO /SH.
MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.17. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.34 billion. MCCORMICK & CO /SH had a return on equity of 21.63% and a net margin of 13.12%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS.
MKC has been the topic of a number of recent research reports. ValuEngine lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $154.00 to $150.00 in a research note on Tuesday, August 20th. Credit Suisse Group boosted their target price on MCCORMICK & CO /SH from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Goldman Sachs Group cut MCCORMICK & CO /SH from a “neutral” rating to a “sell” rating and set a $140.00 target price on the stock. in a report on Tuesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. MCCORMICK & CO /SH currently has a consensus rating of “Hold” and an average target price of $153.00.
In related news, VP Lisa Manzone sold 2,800 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $167.05, for a total value of $467,740.00. Following the completion of the transaction, the vice president now directly owns 11,260 shares in the company, valued at $1,880,983. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Aaron Conway sold 5,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $168.59, for a total value of $842,950.00. Following the sale, the director now directly owns 9,501 shares of the company’s stock, valued at approximately $1,601,773.59. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY raised its position in MCCORMICK & CO /SH by 20.0% in the third quarter. Metropolitan Life Insurance Co NY now owns 22,215 shares of the company’s stock valued at $3,472,000 after purchasing an additional 3,703 shares during the period. Squarepoint Ops LLC increased its position in shares of MCCORMICK & CO /SH by 286.4% during the third quarter. Squarepoint Ops LLC now owns 90,318 shares of the company’s stock worth $14,117,000 after purchasing an additional 66,941 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in MCCORMICK & CO /SH by 143.4% in the third quarter. Voloridge Investment Management LLC now owns 86,840 shares of the company’s stock valued at $13,573,000 after buying an additional 51,163 shares during the last quarter. National Pension Service raised its position in MCCORMICK & CO /SH by 5.4% in the 3rd quarter. National Pension Service now owns 177,233 shares of the company’s stock valued at $27,702,000 after purchasing an additional 9,076 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its holdings in shares of MCCORMICK & CO /SH by 0.3% in the third quarter. KCM Investment Advisors LLC now owns 30,689 shares of the company’s stock valued at $4,797,000 after buying an additional 77 shares during the last quarter. 79.70% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MKC opened at $171.36 on Friday. The company’s 50-day moving average price is $164.57 and its 200-day moving average price is $161.21. The company has a current ratio of 0.78, a quick ratio of 0.37 and a debt-to-equity ratio of 1.10. The company has a market cap of $22.86 billion, a P/E ratio of 34.48, a P/E/G ratio of 3.81 and a beta of 0.13. MCCORMICK & CO /SH has a twelve month low of $119.00 and a twelve month high of $173.31.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.62 per share. This is a boost from MCCORMICK & CO /SH’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, December 30th. This represents a $2.48 annualized dividend and a dividend yield of 1.45%. MCCORMICK & CO /SH’s payout ratio is presently 45.88%.
About MCCORMICK & CO /SH
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.
Featured Story: What is the Shanghai Stock Exchange Composite Index?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MCCORMICK & CO /SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MCCORMICK & CO /SH and related companies with MarketBeat.com's FREE daily email newsletter.