McCormick & Company, Incorporated (NYSE:MKC) is scheduled to announce its earnings results before the market opens on Thursday, October 6th. Analysts expect the company to announce earnings of $0.81 per share for the quarter.
McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Wednesday, June 29th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.17). The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a net margin of 10.78% and a return on equity of 16.48%. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.69 EPS. On average, analysts expect McCormick & Company, Incorporated to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
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McCormick & Company, Incorporated Price Performance
Shares of McCormick & Company, Incorporated stock opened at $75.04 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.85. The company has a market cap of $20.13 billion, a PE ratio of 29.66, a P/E/G ratio of 5.33 and a beta of 0.51. The business has a 50 day moving average of $84.66 and a 200 day moving average of $90.26. McCormick & Company, Incorporated has a 52 week low of $73.92 and a 52 week high of $107.35.
Institutional Trading of McCormick & Company, Incorporated
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of McCormick & Company, Incorporated by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 28,955,774 shares of the company's stock worth $2,889,787,000 after purchasing an additional 462,997 shares during the period. Goldman Sachs Group Inc. boosted its holdings in McCormick & Company, Incorporated by 1.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,904,348 shares of the company's stock valued at $158,537,000 after acquiring an additional 23,682 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in McCormick & Company, Incorporated by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,199,578 shares of the company's stock valued at $119,718,000 after acquiring an additional 34,676 shares during the period. Clearbridge Investments LLC boosted its holdings in McCormick & Company, Incorporated by 12.1% during the 1st quarter. Clearbridge Investments LLC now owns 740,328 shares of the company's stock valued at $73,885,000 after acquiring an additional 79,812 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of McCormick & Company, Incorporated by 2.3% in the 1st quarter. First Trust Advisors LP now owns 719,628 shares of the company's stock worth $71,819,000 after buying an additional 16,164 shares during the period. Institutional investors own 78.09% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on MKC. TheStreet downgraded McCormick & Company, Incorporated from a "b" rating to a "c+" rating in a report on Wednesday, June 15th. Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Wednesday, July 6th. Barclays reduced their price target on McCormick & Company, Incorporated from $94.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, September 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on McCormick & Company, Incorporated from $85.00 to $79.00 and set a "hold" rating for the company in a report on Thursday, September 8th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $93.25.
About McCormick & Company, Incorporated
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McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.