McCormick & Company, Incorporated (NYSE:MKC) - Research analysts at Jefferies Financial Group lifted their Q4 2020 earnings per share (EPS) estimates for McCormick & Company, Incorporated in a report released on Monday, January 25th. Jefferies Financial Group analyst R. Dickerson now forecasts that the company will earn $0.81 per share for the quarter, up from their previous estimate of $0.80. Jefferies Financial Group has a "Hold" rating on the stock. Jefferies Financial Group also issued estimates for McCormick & Company, Incorporated's Q3 2021 earnings at $0.76 EPS, Q4 2021 earnings at $0.92 EPS, Q2 2022 earnings at $0.78 EPS, Q4 2022 earnings at $0.95 EPS and FY2022 earnings at $3.17 EPS.
Shares of NYSE:MKC opened at $94.07 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company has a market cap of $25.10 billion, a P/E ratio of 33.24, a PEG ratio of 5.74 and a beta of 0.44. McCormick & Company, Incorporated has a 52 week low of $56.11 and a 52 week high of $105.54. The company has a 50-day moving average price of $93.60 and a 200 day moving average price of $96.38.
Several hedge funds have recently bought and sold shares of MKC. Spectrum Management Group LLC lifted its position in shares of McCormick & Company, Incorporated by 336.6% during the 3rd quarter. Spectrum Management Group LLC now owns 179 shares of the company's stock valued at $35,000 after acquiring an additional 138 shares during the period. Sound Income Strategies LLC increased its stake in shares of McCormick & Company, Incorporated by 100.0% during the 4th quarter. Sound Income Strategies LLC now owns 368 shares of the company's stock worth $35,000 after purchasing an additional 184 shares in the last quarter. TFC Financial Management purchased a new stake in McCormick & Company, Incorporated in the 3rd quarter worth approximately $36,000. Security National Trust Co. boosted its holdings in shares of McCormick & Company, Incorporated by 100.0% in the 4th quarter. Security National Trust Co. now owns 380 shares of the company's stock valued at $36,000 after purchasing an additional 190 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of McCormick & Company, Incorporated by 90.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 189 shares of the company's stock valued at $37,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 37.49% of the company's stock.
In other news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $183.30, for a total transaction of $916,500.00. Following the completion of the sale, the director now directly owns 22,765 shares in the company, valued at approximately $4,172,824.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.00% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Monday, January 11th. Stockholders of record on Thursday, December 31st were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from McCormick & Company, Incorporated's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Wednesday, December 30th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 50.94%.
About McCormick & Company, Incorporated
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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7 Hotel Stocks Just Waiting For the Vaccine
Like any group of stocks related to travel and tourism, hotel stocks saw a steep drop in share prices in 2020. The leisure and hospitality sector that once had 15 million employees has lost 4 million jobs since February.
Many major cities will be feeling the ripple effects of the Covid-19 pandemic for years. However, there is ample evidence that shows the pandemic may be coming to an end. The number of new cases is dropping. The number of those getting vaccinated is rising. And even in the cities with the most restrictive mitigation measures, the slow process of reopening is beginning.
All of this can’t come fast enough for individuals who rely on the travel and tourism industry for their livelihood. Hotel chains had at least some revenue coming in the door. And when earnings season concludes, the more budget-friendly hotel chains may realize revenue that is 75% of its 2019 numbers. But that is not enough to bring the hotels to anywhere near full employment. Particularly with hotels that have bars and restaurants that have remained closed or open at limited capacity.
Many economists are optimistic that travel may begin to look more normal by the summer of this year. And the global economy may deliver 6.4% GDP growth this year. With that in mind, the hotel chains with the best fundamentals and the broadest footprint will be in the best position as the economy reopens.
View the "7 Hotel Stocks Just Waiting For the Vaccine".
