McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) issued its earnings results on Thursday. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11, Briefing.com reports. McCormick & Company, Incorporated had a net margin of 23.12% and a return on equity of 13.29%. During the same quarter last year, the company posted $0.69 earnings per share. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis.
McCormick & Company, Incorporated Stock Up 0.2%
Shares of MKC opened at $47.46 on Thursday. McCormick & Company, Incorporated has a 12 month low of $44.82 and a 12 month high of $78.16. The company has a quick ratio of 0.36, a current ratio of 0.76 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $48.55 and a two-hundred day moving average price of $58.13. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 2.34 and a beta of 0.65.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, July 6th will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, July 6th. This represents a $1.92 dividend on an annualized basis and a yield of 4.0%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 31.48%.
Insiders Place Their Bets
Hedge Funds Weigh In On McCormick & Company, Incorporated
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Motiv8 Investments LLC acquired a new position in shares of McCormick & Company, Incorporated in the 4th quarter worth approximately $28,000. Zions Bancorporation National Association UT grew its holdings in McCormick & Company, Incorporated by 340.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock worth $31,000 after acquiring an additional 357 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in shares of McCormick & Company, Incorporated during the second quarter worth approximately $56,000. Headlands Technologies LLC acquired a new stake in shares of McCormick & Company, Incorporated in the second quarter valued at approximately $64,000. Finally, Sunbelt Securities Inc. lifted its holdings in McCormick & Company, Incorporated by 78.5% during the 4th quarter. Sunbelt Securities Inc. now owns 1,021 shares of the company’s stock worth $70,000 after buying an additional 449 shares in the last quarter. 79.74% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Jefferies Financial Group lowered their target price on McCormick & Company, Incorporated from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reduced their price target on McCormick & Company, Incorporated from $70.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Barclays dropped their price target on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Sanford C. Bernstein decreased their price target on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. Finally, BTIG Research began coverage on McCormick & Company, Incorporated in a report on Tuesday, April 14th. They issued a “neutral” rating on the stock. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.90.
Check Out Our Latest Research Report on MKC
About McCormick & Company, Incorporated
McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.
McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.
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