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

McCormick & Company, Incorporated (NYSE:MKC) will likely be posting its quarterly earnings results 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 Stock Performance

NYSE MKC opened at $71.73 on Thursday. The stock has a fifty day simple moving average of $77.05 and a 200-day simple moving average of $77.90. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61. The stock has a market cap of $19.25 billion, a PE ratio of 24.40, a P/E/G ratio of 3.44 and a beta of 0.75. McCormick & Company, Incorporated has a twelve month low of $63.88 and a twelve month high of $85.49.

McCormick & Company, Incorporated Increases Dividend

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

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated 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 directly owns 28,217 shares of the company’s stock, valued at approximately $2,182,302.78. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 20,000 shares of company stock worth $1,565,850. Company insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $91.00 in a research report on Monday, December 9th. 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 research report on Wednesday, October 2nd. TD Cowen upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their target price on McCormick & Company, Incorporated from $68.00 to $66.00 and set an “underweight” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Moderate Buy” and an average 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.