MCCORMICK & CO /SH NV (NYSE:MKC) – Investment analysts at Jefferies Financial Group dropped their Q2 2019 earnings per share (EPS) estimates for shares of MCCORMICK & CO /SH in a research note issued to investors on Wednesday, March 27th, Zacks Investment Research reports. Jefferies Financial Group analyst A. Jagdale now expects that the company will post earnings per share of $1.06 for the quarter, down from their prior estimate of $1.08. Jefferies Financial Group currently has a “Buy” rating and a $150.00 price target on the stock. Jefferies Financial Group also issued estimates for MCCORMICK & CO /SH’s Q3 2019 earnings at $1.36 EPS, Q2 2020 earnings at $1.21 EPS and Q1 2021 earnings at $1.24 EPS.
MKC has been the topic of several other research reports. Zacks Investment Research raised MCCORMICK & CO /SH from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a report on Tuesday, April 2nd. Deutsche Bank raised MCCORMICK & CO /SH from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Finally, Consumer Edge raised MCCORMICK & CO /SH from an “equal weight” rating to an “overweight” rating in a report on Friday, January 25th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. MCCORMICK & CO /SH has a consensus rating of “Hold” and a consensus target price of $132.57.
MCCORMICK & CO /SH (NYSE:MKC) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. MCCORMICK & CO /SH had a return on equity of 21.41% and a net margin of 12.19%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the company posted $1.00 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, April 5th. MCCORMICK & CO /SH’s payout ratio is 45.88%.
In other MCCORMICK & CO /SH news, major shareholder Alan D. Wilson sold 90,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $140.00, for a total transaction of $12,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Alan D. Wilson sold 94,400 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $151.47, for a total transaction of $14,298,768.00. Following the completion of the sale, the insider now owns 206,553 shares of the company’s stock, valued at approximately $31,286,582.91. The disclosure for this sale can be found here. Insiders have sold a total of 195,600 shares of company stock valued at $28,628,076 in the last quarter. Corporate insiders own 11.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MKC. Oregon Public Employees Retirement Fund increased its position in shares of MCCORMICK & CO /SH by 38,047.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,051,488 shares of the company’s stock valued at $36,000 after buying an additional 5,038,246 shares in the last quarter. Fundsmith LLP bought a new stake in shares of MCCORMICK & CO /SH in the 4th quarter valued at $348,961,000. Norges Bank bought a new stake in shares of MCCORMICK & CO /SH in the 4th quarter valued at $137,744,000. BlackRock Inc. increased its position in shares of MCCORMICK & CO /SH by 9.9% in the 4th quarter. BlackRock Inc. now owns 10,463,337 shares of the company’s stock valued at $1,456,918,000 after buying an additional 943,361 shares in the last quarter. Finally, APG Asset Management N.V. bought a new stake in shares of MCCORMICK & CO /SH in the 4th quarter valued at $31,316,000. Institutional investors and hedge funds own 80.35% 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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