Brokerages expect MCCORMICK & CO /SH NV (NYSE:MKC) to announce $1.35 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for MCCORMICK & CO /SH’s earnings, with the lowest sales estimate coming in at $1.33 billion and the highest estimate coming in at $1.37 billion. MCCORMICK & CO /SH reported sales of $1.19 billion in the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, September 27th.

According to Zacks, analysts expect that MCCORMICK & CO /SH will report full-year sales of $5.46 billion for the current fiscal year, with estimates ranging from $5.43 billion to $5.49 billion. For the next financial year, analysts anticipate that the company will post sales of $5.62 billion per share, with estimates ranging from $5.57 billion to $5.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow MCCORMICK & CO /SH.

MCCORMICK & CO /SH (NYSE:MKC) last posted its quarterly earnings data on Thursday, June 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.09. MCCORMICK & CO /SH had a net margin of 15.83% and a return on equity of 21.98%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The business’s revenue was up 19.1% compared to the same quarter last year.

Several research firms have recently issued reports on MKC. Zacks Investment Research downgraded shares of MCCORMICK & CO /SH from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Credit Suisse Group lifted their target price on shares of MCCORMICK & CO /SH from $122.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, June 29th. ValuEngine upgraded shares of MCCORMICK & CO /SH from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Citigroup lifted their target price on shares of MCCORMICK & CO /SH from $114.00 to $117.00 and gave the company a “neutral” rating in a research report on Friday, June 29th. Finally, Vertical Group lowered shares of MCCORMICK & CO /SH from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $114.25.

NYSE:MKC opened at $132.67 on Tuesday. MCCORMICK & CO /SH has a 52-week low of $93.70 and a 52-week high of $132.83. The company has a current ratio of 0.85, a quick ratio of 0.42 and a debt-to-equity ratio of 1.47. The stock has a market cap of $17.22 billion, a PE ratio of 31.04, a P/E/G ratio of 2.94 and a beta of 0.55.

In other news, Director Alan D. Wilson sold 158,600 shares of MCCORMICK & CO /SH stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $110.00, for a total transaction of $17,446,000.00. Following the sale, the director now directly owns 212,894 shares in the company, valued at approximately $23,418,340. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael R. Smith sold 8,000 shares of MCCORMICK & CO /SH stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $119.90, for a total transaction of $959,200.00. Following the sale, the vice president now owns 22,759 shares in the company, valued at $2,728,804.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 266,600 shares of company stock worth $30,935,200. 19.20% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in MCCORMICK & CO /SH in the second quarter valued at about $111,000. Signaturefd LLC acquired a new position in MCCORMICK & CO /SH in the first quarter valued at about $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in MCCORMICK & CO /SH in the second quarter valued at about $125,000. IMS Capital Management acquired a new position in MCCORMICK & CO /SH in the second quarter valued at about $128,000. Finally, Fort L.P. acquired a new position in MCCORMICK & CO /SH in the second quarter valued at about $134,000. Institutional investors and hedge funds own 82.66% of the company’s stock.

About MCCORMICK & CO /SH

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.

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Earnings History and Estimates for MCCORMICK & CO /SH (NYSE:MKC)

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