Analysts expect McCormick & Company, Incorporated (NYSE:MKC) to report sales of $1.48 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for McCormick & Company,’s earnings. The highest sales estimate is $1.50 billion and the lowest is $1.46 billion. McCormick & Company, posted sales of $1.23 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 20.3%. The business is expected to issue its next quarterly earnings report on Wednesday, January 24th.

According to Zacks, analysts expect that McCormick & Company, will report full-year sales of $1.48 billion for the current fiscal year, with estimates ranging from $4.81 billion to $4.84 billion. For the next year, analysts anticipate that the firm will post sales of $5.39 billion per share, with estimates ranging from $5.26 billion to $5.47 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for McCormick & Company,.

McCormick & Company, (NYSE:MKC) last issued its quarterly earnings data on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.07. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. McCormick & Company,’s revenue for the quarter was up 8.6% on a year-over-year basis.

MKC has been the topic of a number of analyst reports. Credit Suisse Group reiterated a “buy” rating and issued a $115.00 target price (up previously from $112.00) on shares of McCormick & Company, in a research report on Friday, September 29th. Edward Jones upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Jefferies Group LLC upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $110.00 in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research report on Tuesday, August 29th. Finally, BidaskClub upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $105.50.

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In other news, Director Freeman A. Hrabowski III sold 3,000 shares of McCormick & Company, stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $98.68, for a total transaction of $296,040.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael R. Smith sold 5,500 shares of McCormick & Company, stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.60, for a total transaction of $564,300.00. Following the sale, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The disclosure for this sale can be found here. Insiders own 15.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rowland & Co. Investment Counsel ADV boosted its stake in shares of McCormick & Company, by 0.4% during the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,148 shares of the company’s stock valued at $308,000 after purchasing an additional 11 shares in the last quarter. HM Capital Management LLC boosted its stake in shares of McCormick & Company, by 0.5% during the 2nd quarter. HM Capital Management LLC now owns 3,686 shares of the company’s stock valued at $359,000 after purchasing an additional 17 shares in the last quarter. Ironwood Investment Management LLC boosted its stake in shares of McCormick & Company, by 0.7% during the 2nd quarter. Ironwood Investment Management LLC now owns 3,628 shares of the company’s stock valued at $354,000 after purchasing an additional 25 shares in the last quarter. OLD National Bancorp IN boosted its stake in shares of McCormick & Company, by 0.9% during the 2nd quarter. OLD National Bancorp IN now owns 4,377 shares of the company’s stock valued at $427,000 after purchasing an additional 37 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA boosted its stake in shares of McCormick & Company, by 0.3% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 13,727 shares of the company’s stock valued at $1,339,000 after purchasing an additional 37 shares in the last quarter. 69.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of McCormick & Company, (MKC) traded down 0.25% during mid-day trading on Monday, hitting $99.01. 381,379 shares of the company traded hands. McCormick & Company, has a 1-year low of $88.64 and a 1-year high of $106.50. The firm’s 50 day moving average price is $98.28 and its 200-day moving average price is $98.79. The stock has a market capitalization of $12.97 billion, a PE ratio of 27.49 and a beta of 0.53.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, October 6th. McCormick & Company,’s payout ratio is 51.93%.

McCormick & Company, Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

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

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