McCormick & Company, (NYSE:MKC) Getting Somewhat Positive News Coverage, Study Finds
News headlines about McCormick & Company, (NYSE:MKC) have been trending somewhat positive on Sunday, according to Accern Sentiment. The research firm scores the sentiment of news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. McCormick & Company, earned a news sentiment score of 0.15 on Accern’s scale. Accern also gave news stories about the company an impact score of 10 out of 100, meaning that recent news coverage is extremely unlikely to have an effect on the company’s share price in the next few days.
Here are some of the news stories that may have impacted Accern’s analysis:
- Harbour Capital Advisors LLC Invests $355000 in Martin Marietta Materials, Inc. (MLM) (healthcaremenu.net)
- McCormick’s (MKC) Growth Efforts On Track: Should You Hold? (zacks.com)
- Earnings Review and Free Research Report: McCormick’s Sales Increased 4.8%; Adjusted EPS Jumped 9.3% (finance.yahoo.com)
- Jefferies Group Weighs in on McCormick & Company, Incorporated’s Q3 2017 Earnings (MKC) (americanbankingnews.com)
McCormick & Company, (NYSE MKC) traded up 0.75% during midday trading on Friday, reaching $97.67. The company’s stock had a trading volume of 737,341 shares. The company’s 50-day moving average is $102.31 and its 200 day moving average is $98.43. The firm has a market cap of $12.17 billion, a price-to-earnings ratio of 25.94 and a beta of 0.52. McCormick & Company, has a 12-month low of $88.64 and a 12-month high of $106.50.
McCormick & Company, (NYSE:MKC) last announced its quarterly earnings results on Thursday, June 29th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. McCormick & Company,’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. Equities analysts forecast that McCormick & Company, will post $4.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 10th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.92%. McCormick & Company,’s payout ratio is 49.87%.
Several brokerages recently weighed in on MKC. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Credit Suisse Group set a $108.00 target price on McCormick & Company, and gave the company a “buy” rating in a report on Saturday, July 1st. J P Morgan Chase & Co upgraded McCormick & Company, from an “underweight” rating to a “neutral” rating and increased their target price for the company from $91.00 to $96.00 in a report on Wednesday, April 5th. Jefferies Group LLC restated a “hold” rating and set a $95.00 target price on shares of McCormick & Company, in a report on Friday, May 19th. Finally, Zacks Investment Research upgraded McCormick & Company, from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a report on Monday, June 19th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $102.33.
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In other news, Director Maritza Gomez Montiel purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average price of $99.62 per share, for a total transaction of $249,050.00. Following the completion of the acquisition, the director now owns 2,500 shares of the company’s stock, valued at $249,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.30% of the stock is currently owned by insiders.
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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