Economy

Brokerages Anticipate McCormick & Company, Incorporated (MKC) to Announce $0.77 Earnings Per Share

Brokerages Anticipate McCormick & Company, Incorporated (MKC) to Announce $0.77 Earnings Per Share”

Bank of Hawaii's holdings in McCormick & Company, were worth $657,000 at the end of the most recent reporting period. Saturna Capital Corp bought 50,000 shares as the company's stock rose 3.48% with the market. UBS Asset Management Americas Inc. grew its holdings in shares of McCormick & Company, by 13.0% during the 1st quarter.

Carnegie Capital Asset Management LLC lowered its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 3.9% in the second quarter, according to its most recent 13F filing with the SEC. Four analysts surveyed by Zacks expected $1.15 billion. Schulhoff & has invested 1.12% in McCormick & Company, Incorporated (NYSE:MKC).

McCormick & Company, (NYSE:MKC) last issued its quarterly earnings data on Thursday, September 28th. They expect $1.05 earnings per share, up 1.94% or $0.02 from last year's $1.03 per share. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. The company posted earnings of $1.11 B for the period end, compared to the average forecast of $1.10 B. McCormick & Company, had a net profit margin of 10.69% and a ROE of 28.28%.

While other packaged food operators continue to be plagued by lackluster sales, McCormick again bucked the trend, chalking up solid third-quarter results (which included 4.4% organic sales growth and 140 basis points of adjusted operating income improvement to 17.2%). During the same quarter in the prior year, the business earned $0.74 EPS.

A number of analysts have weighed in on MKC shares. Barclays PLC reiterated a "hold" rating and set a $101.00 price objective on shares of McCormick & Company, in a research note on Friday, January 27th. (The) started coverage on shares of McCormick & Company, in a research report on Friday, June 16th. The stock of McCormick & Company, Incorporated (NYSE:MKC) has "Hold" rating given on Wednesday, October 12 by Jefferies. Argent Tru Company has 30,242 shares. Five research experts recommended the company shares with a hold recommendation and five have issued a buy recommendation to the share. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of "Buy" and an average price target of $103.50. The firm owned 9,941,485 shares of the company's stock after selling 463,928 shares during the period. The shares were sold at an average price of $95.09, for a total value of $475,450.00. IFP Advisors Inc now owns 1,784 shares of the company's stock valued at $174,000 after acquiring an additional 395 shares in the last quarter. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Other institutional investors have also recently added to or reduced their stakes in the company. FNY Managed Accounts LLC bought a new stake in shares of McCormick & Company, during the first quarter valued at approximately $135,000. Great West Life Assurance Co. Envestnet Asset Management Inc. grew its holdings in shares of McCormick & Company, by 22.2% during the 1st quarter. The 52-week high is -4.83% and the 52-week low is 14.35%. The Massachusetts-based Puzo Michael J has invested 0.47% in McCormick & Company, Incorporated (NYSE:MKC). Tiemann Investment Advsrs Limited Liability Company invested in 13,892 shares or 0.56% of the stock. Mutual of America Capital Management LLC now owns 14,699 shares of the company's stock worth $1,434,000 after purchasing an additional 2,073 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in McCormick & Company, by 28.4% in the first quarter. Ironwood Investment Management LLC now owns 3,628 shares of the company's stock valued at $354,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 72.74% of the company's stock.

McCormick & Company, (NYSE:MKC) had the price objective upgraded by Credit Suisse Group from $108.00 to $112.00 in a study report released on early Mon, Sep 18th. There has been an observed change of -8.22% in the ownership of the shares in the past six months. The firm's 50-day moving average price is $96.50 and its 200-day moving average price is $99.04. The stock of McCormick & Company, Incorporated (NYSE:MKC) has "Hold" rating given on Monday, August 24 by Zacks. That puts the market capitalization at $12.74 bln.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 24th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.47 per share. Citigroup maintained the shares of MKC in report on Friday, October 2 with "Sell" rating.



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