McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.850-2.900 for the period, compared to the consensus EPS estimate of 2.860. The company issued revenue guidance of $6.6 billion-$6.7 billion, compared to the consensus revenue estimate of $6.7 billion. McCormick & Company, Incorporated also updated its FY24 guidance to $2.85-2.90 EPS.
Wall Street Analyst Weigh In
MKC has been the subject of a number of recent research reports. Bank of America lifted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a buy rating in a research note on Wednesday. TD Cowen boosted their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a hold rating in a report on Wednesday. BNP Paribas raised shares of McCormick & Company, Incorporated to a strong-buy rating in a research note on Wednesday. Stifel Nicolaus boosted their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a hold rating in a research note on Wednesday. Finally, Citigroup upgraded shares of McCormick & Company, Incorporated from a sell rating to a neutral rating and raised their price target for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $79.57.
View Our Latest Stock Report on McCormick & Company, Incorporated
McCormick & Company, Incorporated Price Performance
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts anticipate that McCormick & Company, Incorporated will post 2.85 earnings per share for the current fiscal year.
McCormick & Company, Incorporated Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, October 7th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, October 7th. This represents a $1.68 annualized dividend and a yield of 2.08%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is currently 61.31%.
Insider Buying and Selling at McCormick & Company, Incorporated
In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the director now owns 199,258 shares in the company, valued at approximately $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.90% of the company’s stock.
About McCormick & Company, Incorporated
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.
See Also
- Five stocks we like better than McCormick & Company, Incorporated
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Visa and Mastercard: Top Payment Stocks to Watch After Rate Cuts
- What is the Nikkei 225 index?
- When Is the Best Time to Invest in Mutual Funds?
- Best Stocks Under $5.00
- Is NVIDIA Stock in a Correction or Consolidation?
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.