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

McCormick & Company, Incorporated (NYSE:MKC) will likely be issuing its quarterly earnings data before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.77 per share and revenue of $1,774,680.00 billion for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

McCormick & Company, Incorporated Trading Down 0.4 %

MKC opened at $73.35 on Tuesday. The business has a fifty day moving average price of $76.82 and a 200 day moving average price of $77.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a 12 month low of $63.88 and a 12 month high of $85.49. The stock has a market capitalization of $19.69 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 3.07 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. Stockholders of record on Monday, December 30th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, December 30th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.45%. McCormick & Company, Incorporated’s payout ratio is currently 61.22%.

Insider Activity

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the sale, the director now owns 28,217 shares in the company, valued at $2,182,302.78. This represents a 15.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 20,000 shares of company stock valued at $1,565,850. Insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MKC shares. Stifel Nicolaus lifted their price target on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their price objective on shares of McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating for the company in a research report on Wednesday, January 15th. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $91.00 in a report on Monday, December 9th. Finally, Bank of America increased their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Moderate Buy” and a consensus target price of $82.63.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.