McCormick & Company, Incorporated (MKC) to Release Quarterly Earnings on Thursday

McCormick & Company, Incorporated (NYSE:MKC – Get Rating) is scheduled to announce its earnings results before the market opens on Thursday, January 26th. Analysts expect the company to announce earnings of $0.86 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

McCormick & Company, Incorporated Trading Down 0.1 %

Shares of McCormick & Company, Incorporated stock opened at $78.60 on Wednesday. The company has a market capitalization of $21.08 billion, a P/E ratio of 30.70, a P/E/G ratio of 4.98 and a beta of 0.61. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.77. The company has a fifty day moving average of $83.61 and a 200 day moving average of $82.19. McCormick & Company, Incorporated has a fifty-two week low of $71.19 and a fifty-two week high of $107.35.

McCormick & Company, Incorporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Shareholders of record on Friday, December 30th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Thursday, December 29th. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.37. McCormick & Company, Incorporated’s dividend payout ratio is 60.94%.

Insider Activity at McCormick & Company, Incorporated

In related news, Director Michael D. Mangan sold 5,000 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $82.00, for a total value of $410,000.00. Following the completion of the transaction, the director now owns 38,137 shares of the company’s stock, valued at approximately $3,127,234. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.90% of the stock is owned by insiders.

Institutional Trading of McCormick & Company, Incorporated

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MKC. Point72 Hong Kong Ltd purchased a new stake in McCormick & Company, Incorporated in the 1st quarter worth about $44,000. Federated Hermes Inc. raised its position in McCormick & Company, Incorporated by 408.6% in the 1st quarter. Federated Hermes Inc. now owns 1,648 shares of the company’s stock worth $164,000 after purchasing an additional 1,324 shares during the period. Fund Management at Engine No. 1 LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter worth about $211,000. PDT Partners LLC purchased a new stake in McCormick & Company, Incorporated in the 2nd quarter worth about $217,000. Finally, Horizon Investments LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter worth about $224,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MKC has been the subject of several research reports. BNP Paribas initiated coverage on shares of McCormick & Company, Incorporated in a report on Tuesday, November 15th. They set an “outperform” rating and a $94.00 price objective for the company. Exane BNP Paribas initiated coverage on shares of McCormick & Company, Incorporated in a report on Tuesday, November 15th. They set an “outperform” rating and a $94.00 price objective for the company. StockNews.com started coverage on shares of McCormick & Company, Incorporated in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of McCormick & Company, Incorporated from $79.00 to $83.00 and gave the company a “hold” rating in a report on Tuesday, December 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $93.00.

McCormick & Company, Incorporated Company Profile

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McCormick & Co, Inc is engaged 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 operates by selling to retail channels, including grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce through the following brands: McCormick, French’s, Frank’s RedHot, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor, and DaQiao.