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

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) is expected to be releasing its earnings data 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. Parties interested in listening to the company's conference call can do so using this link.

McCormick & Company, Incorporated Stock Up 2.6 %

Shares of MKC traded up $1.87 during mid-day trading on Thursday, hitting $73.65. 1,290,820 shares of the company's stock were exchanged, compared to its average volume of 1,861,702. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 3.07 and a beta of 0.75. The firm has a fifty day moving average of $76.96 and a two-hundred day moving average of $77.86. The company has a quick ratio of 0.32, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. 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 firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.44%. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 30th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.22%.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Jacques Tapiero sold 5,000 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the transaction, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. This represents a 15.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 20,000 shares of company stock worth $1,565,850. Insiders own 22.90% of the company's stock.

Analyst Ratings Changes

MKC has been the subject of a number of analyst reports. Bank of America boosted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Stifel Nicolaus upped their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a "hold" rating in a research report on Wednesday, October 2nd. BNP Paribas raised shares of McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced 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 note on Wednesday. Finally, TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the company from $86.00 to $90.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have given 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, the stock presently has an average rating of "Moderate Buy" and an average 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.