MCCORMICK & CO /SH NV (NYSE:MKC) – Equities research analysts at Jefferies Financial Group increased their Q3 2020 earnings per share (EPS) estimates for shares of MCCORMICK & CO /SH in a research note issued on Thursday, June 25th. Jefferies Financial Group analyst R. Dickerson now anticipates that the company will post earnings per share of $1.54 for the quarter, up from their previous estimate of $1.41. Jefferies Financial Group currently has a “Hold” rating and a $167.00 price objective on the stock. Jefferies Financial Group also issued estimates for MCCORMICK & CO /SH’s Q4 2020 earnings at $1.75 EPS, Q1 2021 earnings at $1.14 EPS, Q2 2021 earnings at $1.26 EPS, FY2021 earnings at $5.59 EPS and Q1 2022 earnings at $1.20 EPS.
MCCORMICK & CO /SH (NYSE:MKC) last released its quarterly earnings results on Thursday, June 25th. The company reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.31. MCCORMICK & CO /SH had a net margin of 13.74% and a return on equity of 21.58%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the company earned $1.16 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year.
MKC has been the subject of a number of other research reports. Cfra cut their price target on shares of MCCORMICK & CO /SH from $155.00 to $140.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Stifel Nicolaus cut their price target on shares of MCCORMICK & CO /SH from $155.00 to $130.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Deutsche Bank upped their price objective on shares of MCCORMICK & CO /SH from $156.00 to $182.00 and gave the company a “hold” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. cut their price objective on shares of MCCORMICK & CO /SH from $137.00 to $134.00 and set an “underweight” rating for the company in a research note on Friday, April 17th. Finally, Credit Suisse Group raised shares of MCCORMICK & CO /SH from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $147.00 to $187.00 in a research note on Thursday, May 14th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $154.90.
MKC stock opened at $179.41 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.74 and a quick ratio of 0.33. MCCORMICK & CO /SH has a one year low of $112.22 and a one year high of $182.92. The stock has a market cap of $23.42 billion, a PE ratio of 32.27, a P/E/G ratio of 6.22 and a beta of 0.36. The firm has a 50 day simple moving average of $172.76 and a two-hundred day simple moving average of $161.13.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Monday, July 6th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $2.48 dividend on an annualized basis and a yield of 1.38%. MCCORMICK & CO /SH’s dividend payout ratio is currently 46.36%.
A number of large investors have recently bought and sold shares of MKC. Norges Bank bought a new stake in MCCORMICK & CO /SH during the 4th quarter valued at $168,682,000. Capital Research Global Investors raised its holdings in MCCORMICK & CO /SH by 140.6% during the 1st quarter. Capital Research Global Investors now owns 906,236 shares of the company’s stock valued at $127,970,000 after buying an additional 529,510 shares during the last quarter. APG Asset Management N.V. raised its holdings in MCCORMICK & CO /SH by 1,177.9% during the 1st quarter. APG Asset Management N.V. now owns 229,700 shares of the company’s stock valued at $30,814,000 after buying an additional 211,725 shares during the last quarter. Two Sigma Advisers LP bought a new stake in MCCORMICK & CO /SH during the 1st quarter valued at $28,341,000. Finally, Bartlett & Co. LLC bought a new stake in MCCORMICK & CO /SH during the 1st quarter valued at $26,589,000. Institutional investors own 75.93% of the company’s stock.
MCCORMICK & CO /SH Company Profile
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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