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. This segment markets its products under the McCormick, French's, Frank's RedHot, Lawry's Cholula Hot Sauce, Gourmet Garden, Club House, and OLD BAY brands in the Americas; Ducros, Schwartz, Kamis, and Drogheria & Alimentari, and Vahiné brands in Europe, the Middle East, and Africa; McCormick and DaQiao brands in China; and McCormick, Aeroplane, and Gourmet Garden brands in Australia, as well as markets regional and ethnic brands, such as Zatarain's, Stubb's, Thai Kitchen, and Simply Asia. It also supplies its products under the private labels. This segment serves retailers comprising grocery, mass merchandise, warehouse clubs, discount and drug stores, and e-commerce retailers directly and indirectly through distributors and wholesale foodservice suppliers. The Flavor Solutions segment offers seasoning blends, spices and herbs, condiments, coating systems, and compound flavors to multinational food manufacturers and foodservice customers. It serves foodservice customers directly and indirectly through distributors. The company was founded in 1889 and is headquartered in Hunt Valley, Maryland.
McCormick & Company, Incorporated Stock Down 0.0 %
MKC traded down $0.01 during midday trading on Friday, hitting $89.62. The company had a trading volume of 13,429 shares, compared to its average volume of 1,090,670. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.85. The stock's 50 day moving average price is $85.43 and its 200 day moving average price is $93.89. The company has a market capitalization of $24.05 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 5.59 and a beta of 0.50. McCormick & Company, Incorporated has a 52 week low of $77.85 and a 52 week high of $107.35.
McCormick & Company, Incorporated (NYSE:MKC - Get Rating) last posted its earnings results on Wednesday, June 29th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.17). McCormick & Company, Incorporated had a return on equity of 16.48% and a net margin of 10.78%. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The company's revenue for the quarter was down 1.3% on a year-over-year basis. On average, research analysts anticipate that McCormick & Company, Incorporated will post 3.02 earnings per share for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, July 11th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, July 8th. McCormick & Company, Incorporated's dividend payout ratio is presently 58.50%.
Analyst Ratings Changes
Several research analysts recently issued reports on MKC shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of McCormick & Company, Incorporated from $91.00 to $85.00 and set a "hold" rating on the stock in a research note on Thursday, June 30th. TheStreet downgraded shares of McCormick & Company, Incorporated from a "b" rating to a "c+" rating in a research note on Wednesday, June 15th. Finally, Argus downgraded shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and an average target price of $99.00.
Insider Transactions at McCormick & Company, Incorporated
In related news, Director Margaret M. V. Preston sold 10,580 shares of the stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total value of $893,375.20. Following the completion of the sale, the director now owns 12,660 shares of the company's stock, valued at $1,069,010.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 15.90% of the company's stock.