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.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on MKC shares. TheStreet downgraded McCormick & Company, Incorporated from a "b" rating to a "c+" rating in a research note on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft cut their price objective 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, Argus downgraded McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Wednesday, July 6th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $99.00.
McCormick & Company, Incorporated Stock Performance
Shares of NYSE:MKC opened at $91.85 on Tuesday. 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 business's 50 day moving average is $85.45 and its two-hundred day moving average is $93.85. The company has a market cap of $24.64 billion, a P/E ratio of 36.30, a P/E/G ratio of 5.64 and a beta of 0.50. McCormick & Company, Incorporated has a 12 month low of $77.85 and a 12 month high of $107.35.
McCormick & Company, Incorporated (NYSE:MKC - Get Rating) last issued its quarterly 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). The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 16.48% and a net margin of 10.78%. The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, equities analysts expect that McCormick & Company, Incorporated will post 3.02 EPS for the current 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 dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, July 8th. McCormick & Company, Incorporated's payout ratio is presently 58.50%.
Insider Transactions at McCormick & Company, Incorporated
In other news, Director Margaret M. V. Preston sold 10,580 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $84.44, for a total transaction of $893,375.20. Following the sale, the director now owns 12,660 shares of the company's stock, valued at approximately $1,069,010.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is owned by insiders.