Analysts expect McCormick & Company, Incorporated (NYSE:MKC) to report $0.73 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for McCormick & Company, Incorporated’s earnings, with estimates ranging from $0.69 to $0.74. McCormick & Company, Incorporated posted earnings per share of $0.77 in the same quarter last year, which indicates a negative year-over-year growth rate of 5.2%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, September 30th.
According to Zacks, analysts expect that McCormick & Company, Incorporated will report full year earnings of $3.03 per share for the current financial year, with EPS estimates ranging from $3.02 to $3.05. For the next fiscal year, analysts forecast that the business will post earnings of $3.17 per share, with EPS estimates ranging from $3.08 to $3.30. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for McCormick & Company, Incorporated.
McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Wednesday, June 30th. The company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.07. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.47 billion. McCormick & Company, Incorporated had a net margin of 12.48% and a return on equity of 19.50%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share.
Shares of MKC stock traded up $0.59 during trading on Wednesday, reaching $85.67. The company’s stock had a trading volume of 10,566 shares, compared to its average volume of 1,244,854. The business has a fifty day moving average price of $86.04 and a 200-day moving average price of $87.64. The company has a quick ratio of 0.38, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The company has a market cap of $22.90 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 4.13 and a beta of 0.48. McCormick & Company, Incorporated has a one year low of $82.03 and a one year high of $101.67.
The company also recently declared a quarterly dividend, which was paid on Monday, July 26th. Shareholders of record on Monday, July 12th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, July 9th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 48.06%.
In other McCormick & Company, Incorporated news, Director Freeman A. Hrabowski III sold 2,870 shares of the company’s stock in a transaction on Friday, August 20th. The shares were sold at an average price of $87.50, for a total value of $251,125.00. Following the transaction, the director now directly owns 92,983 shares in the company, valued at $8,136,012.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.90% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in MKC. Wealthcare Advisory Partners LLC acquired a new position in shares of McCormick & Company, Incorporated in the first quarter valued at about $57,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of McCormick & Company, Incorporated by 3.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 913,064 shares of the company’s stock valued at $81,409,000 after acquiring an additional 33,096 shares in the last quarter. IFP Advisors Inc grew its stake in shares of McCormick & Company, Incorporated by 27.7% in the first quarter. IFP Advisors Inc now owns 4,580 shares of the company’s stock valued at $407,000 after acquiring an additional 993 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in McCormick & Company, Incorporated by 45.9% during the first quarter. Kornitzer Capital Management Inc. KS now owns 8,900 shares of the company’s stock worth $794,000 after buying an additional 2,800 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in McCormick & Company, Incorporated by 4.5% during the first quarter. Daiwa Securities Group Inc. now owns 12,817 shares of the company’s stock worth $1,143,000 after buying an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 74.10% of the company’s stock.
About McCormick & Company, Incorporated
McCormick & Co, Inc engages in the manufacture, market and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and foodservice businesses. It operates through the following segments: Consumer and Flavor Solutions. The Consumer segment operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.
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