Wall Street brokerages expect McCormick & Company, Incorporated (NYSE:MKC) to report sales of $1.48 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for McCormick & Company,’s earnings, with the lowest sales estimate coming in at $1.46 billion and the highest estimate coming in at $1.50 billion. McCormick & Company, posted sales of $1.23 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.3%. The firm is expected to issue its next earnings results 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 forecast that the business will post sales of $5.38 billion per share, with estimates ranging from $5.26 billion to $5.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for McCormick & Company,.

McCormick & Company, (NYSE:MKC) last announced its earnings results on Thursday, September 28th. The company reported $1.12 EPS 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 firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company posted $1.03 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis.

A number of research firms have recently issued reports on MKC. Zacks Investment Research downgraded shares of McCormick & Company, from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Jefferies Group LLC reiterated a “hold” rating and issued a $95.00 price objective on shares of McCormick & Company, in a report on Thursday, July 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $103.00 price objective (up from $95.00) on shares of McCormick & Company, in a report on Monday, October 2nd. Citigroup Inc. lifted their price objective on shares of McCormick & Company, from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $115.00 price objective (up from $112.00) on shares of McCormick & Company, in a report on Friday, September 29th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. McCormick & Company, has an average rating of “Buy” and an average target price of $106.00.

In related news, Director Freeman A. Hrabowski III sold 3,000 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $98.68, for a total value of $296,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael R. Smith sold 5,500 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $102.60, for a total transaction of $564,300.00. Following the completion of the transaction, the vice president now directly owns 19,248 shares of the company’s stock, valued at $1,974,844.80. The disclosure for this sale can be found here. Insiders sold 13,500 shares of company stock valued at $1,357,840 over the last three months. 15.30% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank grew its stake in shares of McCormick & Company, by 24.3% in the second quarter. Toronto Dominion Bank now owns 39,362 shares of the company’s stock valued at $3,838,000 after buying an additional 7,684 shares in the last quarter. Swiss National Bank boosted its position in McCormick & Company, by 1.2% during the second quarter. Swiss National Bank now owns 913,348 shares of the company’s stock worth $89,061,000 after purchasing an additional 10,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in McCormick & Company, by 15.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,241 shares of the company’s stock worth $2,949,000 after purchasing an additional 4,044 shares during the period. Mcdaniel Terry & Co. boosted its position in McCormick & Company, by 38.6% during the second quarter. Mcdaniel Terry & Co. now owns 106,573 shares of the company’s stock worth $10,392,000 after purchasing an additional 29,656 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its position in McCormick & Company, by 8.7% during the second quarter. Ameritas Investment Partners Inc. now owns 35,374 shares of the company’s stock worth $3,449,000 after purchasing an additional 2,843 shares during the period. 70.14% of the stock is owned by institutional investors and hedge funds.

Shares of McCormick & Company, (MKC) opened at $96.92 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.95 and a debt-to-equity ratio of 1.86. McCormick & Company, has a fifty-two week low of $88.64 and a fifty-two week high of $106.50. The stock has a market cap of $12,580.00, a P/E ratio of 24.29, a PEG ratio of 2.44 and a beta of 0.53.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 24th. Investors of record on Tuesday, October 10th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.88 annualized dividend and a dividend yield of 1.94%. McCormick & Company,’s dividend payout ratio is presently 52.08%.

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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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