$1.34 Billion in Sales Expected for MCCORMICK & CO /SH NV (NYSE:MKC) This Quarter

Wall Street analysts expect that MCCORMICK & CO /SH NV (NYSE:MKC) will report sales of $1.34 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for MCCORMICK & CO /SH’s earnings, with estimates ranging from $1.33 billion to $1.35 billion. MCCORMICK & CO /SH posted sales of $1.35 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, September 26th.

According to Zacks, analysts expect that MCCORMICK & CO /SH will report full-year sales of $5.37 billion for the current fiscal year, with estimates ranging from $5.35 billion to $5.39 billion. For the next fiscal year, analysts expect that the company will report sales of $5.51 billion, with estimates ranging from $5.45 billion to $5.57 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for MCCORMICK & CO /SH.

MCCORMICK & CO /SH (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 27th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. MCCORMICK & CO /SH had a net margin of 12.73% and a return on equity of 21.42%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company earned $1.02 EPS. The firm’s revenue was up .0% on a year-over-year basis.

A number of research firms have weighed in on MKC. UBS Group set a $155.00 price objective on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. Citigroup upped their price objective on shares of MCCORMICK & CO /SH from $155.00 to $166.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Deutsche Bank set a $142.00 price objective on shares of MCCORMICK & CO /SH and gave the company a “hold” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. cut shares of MCCORMICK & CO /SH from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $154.00 to $150.00 in a research report on Tuesday, August 20th. Finally, Zacks Investment Research raised shares of MCCORMICK & CO /SH from a “sell” rating to a “hold” rating and set a $161.00 price objective for the company in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. MCCORMICK & CO /SH presently has a consensus rating of “Hold” and a consensus target price of $142.89.

MCCORMICK & CO /SH stock traded up $0.70 during trading on Tuesday, reaching $158.98. 639,900 shares of the company’s stock were exchanged, compared to its average volume of 1,033,972. The company’s 50-day moving average is $162.25 and its two-hundred day moving average is $154.78. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.35 and a current ratio of 0.79. MCCORMICK & CO /SH has a 52-week low of $119.00 and a 52-week high of $171.10. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 3.72 and a beta of 0.16.

In other news, VP Michael R. Smith sold 9,100 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $160.84, for a total value of $1,463,644.00. Following the sale, the vice president now owns 30,453 shares in the company, valued at approximately $4,898,060.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Nneka Louise Rimmer sold 2,070 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $154.02, for a total transaction of $318,821.40. Following the completion of the sale, the vice president now owns 6,209 shares in the company, valued at approximately $956,310.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,272 shares of company stock valued at $7,197,181. 11.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new stake in shares of MCCORMICK & CO /SH in the 2nd quarter valued at about $26,000. Private Ocean LLC acquired a new stake in shares of MCCORMICK & CO /SH in the 1st quarter valued at about $27,000. Glassman Wealth Services raised its stake in shares of MCCORMICK & CO /SH by 43.7% in the 1st quarter. Glassman Wealth Services now owns 240 shares of the company’s stock valued at $36,000 after purchasing an additional 73 shares in the last quarter. Capital Investment Advisory Services LLC raised its stake in shares of MCCORMICK & CO /SH by 40.0% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares in the last quarter. Finally, Ascent Wealth Partners LLC acquired a new stake in shares of MCCORMICK & CO /SH in the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 80.25% of the company’s stock.

About MCCORMICK & CO /SH

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 & CO /SH (NYSE:MKC)

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