Equities analysts expect that McCormick & Company, Incorporated (NYSE:MKC) will announce sales of $1.1 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for McCormick & Company,’s earnings. The lowest sales estimate is $1.08 billion and the highest is $1.13 billion. McCormick & Company, posted sales of $1.06 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The firm is expected to issue its next quarterly earnings results on Thursday, June 29th.

According to Zacks, analysts expect that McCormick & Company, will report full year sales of $1.1 billion for the current fiscal year, with estimates ranging from $4.53 billion to $4.62 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.72 billion per share, with estimates ranging from $4.66 billion to $4.79 billion. Zacks Investment Research’s sales averages are a mean 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 Tuesday, March 28th. The company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.05 billion. McCormick & Company, had a net margin of 10.71% and a return on equity of 27.97%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 EPS.

A number of brokerages recently weighed in on MKC. JPMorgan Chase & Co. raised McCormick & Company, from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $91.00 to $96.00 in a research note on Wednesday, April 5th. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, April 6th. Deutsche Bank AG initiated coverage on McCormick & Company, in a research report on Wednesday, February 15th. They set a “hold” rating and a $102.00 price objective for the company. Zacks Investment Research lowered McCormick & Company, from a “hold” rating to a “sell” rating in a research report on Monday, April 3rd. Finally, Barclays PLC restated a “hold” rating and set a $101.00 price objective on shares of McCormick & Company, in a research report on Friday, January 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $100.89.

Shares of McCormick & Company, (NYSE:MKC) traded down 0.70% during midday trading on Friday, reaching $99.72. 371,282 shares of the company were exchanged. McCormick & Company, has a 52-week low of $88.64 and a 52-week high of $107.84. The company has a market capitalization of $12.43 billion, a PE ratio of 26.94 and a beta of 0.48. The firm’s 50 day moving average is $100.03 and its 200-day moving average is $95.87.

The business also recently announced a quarterly dividend, which was paid on Monday, April 24th. Investors of record on Monday, April 10th were issued a $0.47 dividend. The ex-dividend date was Thursday, April 6th. This represents a $1.88 annualized dividend and a yield of 1.89%. McCormick & Company,’s dividend payout ratio (DPR) is currently 50.81%.

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In other McCormick & Company, news, Director Alan D. Wilson sold 207,531 shares of McCormick & Company, stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $99.83, for a total value of $20,717,819.73. Following the transaction, the director now directly owns 194,552 shares of the company’s stock, valued at approximately $19,422,126.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Maritza Gomez Montiel purchased 2,500 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average cost of $99.62 per share, for a total transaction of $249,050.00. Following the completion of the transaction, the director now owns 2,500 shares in the company, valued at $249,050. The disclosure for this purchase can be found here. 13.70% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Rowland & Co. Investment Counsel ADV boosted its stake in McCormick & Company, by 0.3% in the third quarter. Rowland & Co. Investment Counsel ADV now owns 3,790 shares of the company’s stock worth $379,000 after buying an additional 10 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of McCormick & Company, by 0.9% in the third quarter. Great West Life Assurance Co. Can now owns 148,332 shares of the company’s stock worth $14,806,000 after buying an additional 1,322 shares during the period. Robshaw & Julian Associates Inc. boosted its stake in shares of McCormick & Company, by 0.4% in the third quarter. Robshaw & Julian Associates Inc. now owns 37,874 shares of the company’s stock worth $3,784,000 after buying an additional 165 shares during the period. JLB & Associates Inc. boosted its stake in shares of McCormick & Company, by 1.5% in the third quarter. JLB & Associates Inc. now owns 129,995 shares of the company’s stock worth $12,989,000 after buying an additional 1,860 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of McCormick & Company, by 6.1% in the third quarter. State of Alaska Department of Revenue now owns 10,917 shares of the company’s stock worth $1,090,000 after buying an additional 629 shares during the period. Institutional investors and hedge funds own 72.99% of the company’s stock.

About McCormick & Company,

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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