$1.54 Billion in Sales Expected for MCCORMICK & CO /SH NV (MKC) This Quarter

Equities research analysts expect MCCORMICK & CO /SH NV (NYSE:MKC) to report sales of $1.54 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for MCCORMICK & CO /SH’s earnings, with the highest sales estimate coming in at $1.56 billion and the lowest estimate coming in at $1.53 billion. MCCORMICK & CO /SH reported sales of $1.49 billion during the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The business is expected to issue its next quarterly earnings results on Thursday, January 24th.

On average, analysts expect that MCCORMICK & CO /SH will report full-year sales of $5.46 billion for the current fiscal year, with estimates ranging from $5.44 billion to $5.50 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $5.62 billion, with estimates ranging from $5.56 billion to $5.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow MCCORMICK & CO /SH.

MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings data on Thursday, September 27th. The company reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. MCCORMICK & CO /SH had a net margin of 16.57% and a return on equity of 21.83%. MCCORMICK & CO /SH’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS.

MKC has been the subject of several analyst reports. Credit Suisse Group raised their price target on shares of MCCORMICK & CO /SH from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, June 29th. Barclays reissued a “hold” rating and issued a $129.00 price target on shares of MCCORMICK & CO /SH in a report on Sunday, September 30th. Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $150.00 price target on shares of MCCORMICK & CO /SH in a report on Wednesday, October 3rd. Finally, Citigroup raised their price target on shares of MCCORMICK & CO /SH from $114.00 to $117.00 and gave the company a “neutral” rating in a report on Friday, June 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $124.44.

MKC traded up $0.41 on Friday, hitting $136.16. The company’s stock had a trading volume of 3,515 shares, compared to its average volume of 969,533. The company has a market cap of $17.29 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 2.94 and a beta of 0.57. MCCORMICK & CO /SH has a 12 month low of $93.70 and a 12 month high of $136.24. The company has a current ratio of 0.79, a quick ratio of 0.36 and a debt-to-equity ratio of 1.37.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, October 5th. MCCORMICK & CO /SH’s dividend payout ratio is currently 48.83%.

In other news, Director Alan D. Wilson sold 100,000 shares of MCCORMICK & CO /SH stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $125.30, for a total transaction of $12,530,000.00. Following the completion of the sale, the director now directly owns 212,894 shares of the company’s stock, valued at approximately $26,675,618.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.20% of the company’s stock.

A number of large investors have recently modified their holdings of MKC. Itau Unibanco Holding S.A. purchased a new position in MCCORMICK & CO /SH in the 2nd quarter worth $111,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in MCCORMICK & CO /SH in the 2nd quarter worth $125,000. IMS Capital Management purchased a new position in MCCORMICK & CO /SH in the 2nd quarter worth $128,000. Fort L.P. purchased a new position in MCCORMICK & CO /SH in the 2nd quarter worth $134,000. Finally, Squar Milner Financial Services LLC purchased a new position in MCCORMICK & CO /SH in the 2nd quarter worth $135,000. Institutional investors own 82.62% of the company’s stock.

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 through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

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Earnings History and Estimates for MCCORMICK & CO /SH (NYSE:MKC)

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