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 Trading Up 0.1 %
MKC Stock traded up $0.11 during trading on Wednesday, hitting $92.58. 1,069,373 shares of the company traded hands, compared to its average volume of 1,354,451. The firm has a market capitalization of $24.84 billion, a PE ratio of 36.55, a P/E/G ratio of 5.72 and a beta of 0.50. McCormick & Company, Incorporated has a 1 year low of $77.85 and a 1 year high of $107.35. The company has a 50-day moving average of $85.55 and a 200-day moving average of $93.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.31 and a current ratio of 0.74.
McCormick & Company, Incorporated (NYSE:MKC - Get Rating) last issued its earnings results on Wednesday, June 29th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.17). McCormick & Company, Incorporated had a net margin of 10.78% and a return on equity of 16.48%. The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.61 billion. During the same quarter in the prior year, the company earned $0.69 earnings per share. The company's revenue was down 1.3% compared to the same quarter last year. Analysts predict that McCormick & Company, Incorporated will post 3.02 earnings per share for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Monday, July 11th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.60%. The ex-dividend date was Friday, July 8th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 58.50%.
Analysts Set New Price Targets
A number of analysts recently issued reports on MKC shares. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Wednesday, July 6th. Deutsche Bank Aktiengesellschaft decreased their target price on 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. Finally, TheStreet lowered McCormick & Company, Incorporated from a "b" rating to a "c+" rating in a research report on Wednesday, June 15th. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $99.00.
Insiders Place Their Bets
In other news, Director Margaret M. V. Preston sold 10,580 shares of the firm's 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 transaction, the director now owns 12,660 shares in the company, valued at approximately $1,069,010.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 15.90% of the company's stock.