Wall Street analysts expect that MCCORMICK & CO /SH NV (NYSE:MKC) will announce $1.34 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for MCCORMICK & CO /SH’s earnings. The highest sales estimate is $1.35 billion and the lowest is $1.33 billion. MCCORMICK & CO /SH reported sales of $1.35 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.7%. The firm is scheduled to report its next quarterly earnings report on Thursday, September 26th.
On average, analysts expect that MCCORMICK & CO /SH will report full-year sales of $5.38 billion for the current fiscal year, with estimates ranging from $5.35 billion to $5.39 billion. For the next financial year, analysts forecast that the business will post sales of $5.51 billion, with estimates ranging from $5.45 billion to $5.57 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow MCCORMICK & CO /SH.
MCCORMICK & CO /SH (NYSE:MKC) last posted its earnings results on Thursday, June 27th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.07. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. MCCORMICK & CO /SH had a net margin of 12.73% and a return on equity of 21.42%. MCCORMICK & CO /SH’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS.
NYSE:MKC traded down $1.24 on Friday, hitting $161.14. The stock had a trading volume of 17,011 shares, compared to its average volume of 975,017. The company has a quick ratio of 0.35, a current ratio of 0.79 and a debt-to-equity ratio of 1.18. The stock has a market cap of $21.37 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 3.80 and a beta of 0.18. The company has a fifty day moving average price of $161.32 and a two-hundred day moving average price of $150.83. MCCORMICK & CO /SH has a 1-year low of $119.00 and a 1-year high of $171.10.
In other MCCORMICK & CO /SH news, Director Jacques Tapiero sold 2,500 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $169.21, for a total transaction of $423,025.00. Following the sale, the director now directly owns 10,868 shares in the company, valued at approximately $1,838,974.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Nneka Louise Rimmer sold 2,070 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $154.02, for a total transaction of $318,821.40. Following the sale, the vice president now owns 6,209 shares in the company, valued at $956,310.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,272 shares of company stock worth $7,197,181. Company insiders own 11.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Krane Funds Advisors LLC acquired a new stake in MCCORMICK & CO /SH during the 2nd quarter worth approximately $26,000. Private Ocean LLC acquired a new stake in MCCORMICK & CO /SH during the 1st quarter worth approximately $27,000. Winslow Evans & Crocker Inc. acquired a new stake in MCCORMICK & CO /SH during the 1st quarter worth approximately $36,000. Glassman Wealth Services lifted its holdings in MCCORMICK & CO /SH by 43.7% during the 1st quarter. Glassman Wealth Services now owns 240 shares of the company’s stock worth $36,000 after buying an additional 73 shares in the last quarter. Finally, Capital Investment Advisory Services LLC lifted its holdings in MCCORMICK & CO /SH by 40.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 245 shares of the company’s stock worth $39,000 after buying an additional 70 shares in the last quarter. Institutional investors own 79.90% 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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