McCormick & Company, Incorporated (MKC) Expected to Announce Earnings on Thursday

McCormick & Company, Incorporated (NYSE:MKC) is expected to be releasing its earnings data before the market opens on Thursday, January 23rd. Analysts expect McCormick & Company, Incorporated to post earnings of $0.77 per share and revenue of $1,774,680.00 billion for the quarter.

McCormick & Company, Incorporated Trading Down 0.2 %

NYSE MKC opened at $71.73 on Thursday. The firm’s fifty day moving average price is $77.05 and its 200 day moving average price is $77.90. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. The company has a market capitalization of $19.25 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 3.44 and a beta of 0.75.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.51%. The ex-dividend date was Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. McCormick & Company, Incorporated’s dividend payout ratio is currently 61.22%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the transaction, the director now directly owns 40,436 shares in the company, valued at $3,174,226. The trade was a 11.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 20,000 shares of company stock worth $1,565,850 over the last 90 days. 22.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MKC. Stifel Nicolaus boosted their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $91.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. lowered their target price on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research report on Wednesday. Bank of America lifted their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $90.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Moderate Buy” and a consensus target price of $82.63.

McCormick & Company, Incorporated Company Profile

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.