$1.51 Billion in Sales Expected for McCormick & Company, Incorporated (NYSE:MKC) This Quarter


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Wall Street analysts expect that McCormick & Company, Incorporated (NYSE:MKC) will announce sales of $1.51 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for McCormick & Company, Incorporated’s earnings, with the lowest sales estimate coming in at $1.47 billion and the highest estimate coming in at $1.54 billion. McCormick & Company, Incorporated reported sales of $1.40 billion in the same quarter last year, which would suggest a positive year over year growth rate of 7.9%. The company is expected to issue its next quarterly earnings results on Thursday, June 24th.

On average, analysts expect that McCormick & Company, Incorporated will report full year sales of $6.10 billion for the current fiscal year, with estimates ranging from $6.06 billion to $6.14 billion. For the next year, analysts anticipate that the company will post sales of $6.16 billion, with estimates ranging from $6.05 billion to $6.25 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover McCormick & Company, Incorporated.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Monday, March 29th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.14. McCormick & Company, Incorporated had a net margin of 13.75% and a return on equity of 20.93%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share.

Separately, Argus restated a “hold” rating on shares of McCormick & Company, Incorporated in a report on Tuesday, March 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. McCormick & Company, Incorporated presently has a consensus rating of “Buy” and a consensus target price of $91.08.

MKC traded down $0.53 during trading on Thursday, hitting $90.37. 1,102,862 shares of the company’s stock were exchanged, compared to its average volume of 1,360,004. The company has a quick ratio of 0.42, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $89.12 and its two-hundred day moving average is $91.48. McCormick & Company, Incorporated has a fifty-two week low of $78.75 and a fifty-two week high of $105.54. The stock has a market cap of $24.13 billion, a P/E ratio of 31.93, a PEG ratio of 5.74 and a beta of 0.44.

The company also recently announced a quarterly dividend, which was paid on Monday, April 26th. Stockholders of record on Monday, April 12th were paid a $0.34 dividend. The ex-dividend date was Friday, April 9th. This represents a $1.36 annualized dividend and a dividend yield of 1.50%. McCormick & Company, Incorporated’s payout ratio is 50.94%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of McCormick & Company, Incorporated by 96.2% in the 4th quarter. BlackRock Inc. now owns 20,826,434 shares of the company’s stock worth $1,991,007,000 after acquiring an additional 10,210,806 shares in the last quarter. Fundsmith LLP grew its position in McCormick & Company, Incorporated by 113.9% during the fourth quarter. Fundsmith LLP now owns 16,133,793 shares of the company’s stock valued at $1,542,391,000 after buying an additional 8,591,698 shares during the period. Northern Trust Corp grew its position in McCormick & Company, Incorporated by 95.4% during the fourth quarter. Northern Trust Corp now owns 2,882,783 shares of the company’s stock valued at $275,595,000 after buying an additional 1,407,210 shares during the period. Bank of New York Mellon Corp boosted its position in McCormick & Company, Incorporated by 102.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,104,223 shares of the company’s stock worth $201,164,000 after purchasing an additional 1,065,692 shares during the period. Finally, California Public Employees Retirement System boosted its position in McCormick & Company, Incorporated by 94.0% during the fourth quarter. California Public Employees Retirement System now owns 2,003,217 shares of the company’s stock worth $191,508,000 after purchasing an additional 970,443 shares during the period. Hedge funds and other institutional investors own 37.49% of the company’s stock.

About McCormick & Company, Incorporated

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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Earnings History and Estimates for McCormick & Company, Incorporated (NYSE:MKC)

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