McCormick & Company, Incorporated (MKC) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

McCormick & Company, Incorporated (NYSE:MKC) released its quarterly earnings data on Tuesday. The company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. McCormick & Company, had a net margin of 10.71% and a return on equity of 27.97%. The firm earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. McCormick & Company, updated its FY17 guidance to $4.05-4.13 EPS.

Shares of McCormick & Company, (NYSE:MKC) opened at 101.36 on Tuesday. The stock has a 50 day moving average of $99.06 and a 200-day moving average of $95.25. The company has a market cap of $12.69 billion, a PE ratio of 27.47 and a beta of 0.48. McCormick & Company, has a 12 month low of $88.64 and a 12 month high of $107.84.

Earnings History for McCormick & Company, (NYSE:MKC)

In other news, Director Michael D. Mangan sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $95.09, for a total transaction of $475,450.00. Following the transaction, the director now directly owns 16,555 shares of the company’s stock, valued at $1,574,214.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.70% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Roffman Miller Associates Inc. PA raised its position in shares of McCormick & Company, by 0.4% in the third quarter. Roffman Miller Associates Inc. PA now owns 162,596 shares of the company’s stock worth $16,247,000 after buying an additional 584 shares during the last quarter. IFC Holdings Incorporated FL purchased a new position in shares of McCormick & Company, during the third quarter worth $646,000. PGGM Investments raised its position in shares of McCormick & Company, by 4.7% in the third quarter. PGGM Investments now owns 103,747 shares of the company’s stock worth $10,366,000 after buying an additional 4,651 shares during the last quarter. GWM Advisors LLC raised its position in shares of McCormick & Company, by 22.3% in the third quarter. GWM Advisors LLC now owns 43,343 shares of the company’s stock worth $4,182,000 after buying an additional 7,898 shares during the last quarter. Finally, American Research & Management Co. raised its position in shares of McCormick & Company, by 1.6% in the third quarter. American Research & Management Co. now owns 16,460 shares of the company’s stock worth $1,645,000 after buying an additional 265 shares during the last quarter. 72.99% of the stock is currently owned by institutional investors.

MKC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of McCormick & Company, from a “sell” rating to a “hold” rating in a research report on Monday, December 19th. Barclays PLC reaffirmed a “hold” rating and set a $101.00 price objective on shares of McCormick & Company, in a research report on Friday, January 27th. Deutsche Bank AG initiated coverage on shares of McCormick & Company, in a research report on Wednesday, February 15th. They set a “hold” rating and a $102.00 price objective for the company. Bank of America Corp initiated coverage on shares of McCormick & Company, in a research report on Tuesday, December 6th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Jefferies Group LLC reduced their price objective on shares of McCormick & Company, from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, November 30th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. McCormick & Company, currently has a consensus rating of “Hold” and a consensus price target of $101.21.

TRADEMARK VIOLATION WARNING: “McCormick & Company, Incorporated (MKC) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS” was originally posted by Mideast Time and is the sole property of of Mideast Time. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.mideasttime.com/mccormick-company-incorporated-mkc-announces-quarterly-earnings-results-beats-estimates-by-0-02-eps/1590343.html.

McCormick & Company, Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

5 Day Chart for NYSE:MKC

Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.