Q1 2017 EPS Estimates for McCormick & Company, Incorporated (MKC) Decreased by Analyst

Q1 2017 EPS Estimates for McCormick & Company, Incorporated (MKC) Decreased by Analyst

McCormick & Company, Incorporated (NYSE:MKC) – Analysts at Jefferies Group decreased their Q1 2017 earnings per share (EPS) estimates for shares of McCormick & Company, in a research report issued on Thursday. Jefferies Group analyst A. Jagdale now forecasts that the firm will earn $0.74 per share for the quarter, down from their prior estimate of $0.83. Jefferies Group has a “Hold” rating and a $90.00 price objective on the stock. Jefferies Group also issued estimates for McCormick & Company,’s Q2 2017 earnings at $0.83 EPS, Q3 2017 earnings at $1.08 EPS, Q4 2017 earnings at $1.44 EPS, FY2017 earnings at $4.09 EPS, Q1 2018 earnings at $0.82 EPS, Q2 2018 earnings at $0.90 EPS, Q3 2018 earnings at $1.16 EPS, FY2018 earnings at $4.42 EPS and FY2019 earnings at $4.78 EPS.

Several other equities analysts have also issued reports on the company. Barclays PLC reaffirmed a “hold” rating and issued a $101.00 price target on shares of McCormick & Company, in a research report on Friday. Zacks Investment Research raised McCormick & Company, from a “sell” rating to a “hold” rating in a research report on Monday, December 19th. Bank of America Corporation assumed coverage on McCormick & Company, in a research report on Tuesday, December 6th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Credit Suisse Group raised McCormick & Company, from a “neutral” rating to an “outperform” rating and set a $111.00 price target for the company in a research report on Tuesday, October 25th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. McCormick & Company, currently has an average rating of “Hold” and an average price target of $102.32.

McCormick & Company, (NYSE:MKC) opened at 95.88 on Monday. McCormick & Company, has a 52-week low of $85.10 and a 52-week high of $107.84. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 25.98 and a beta of 0.47. The stock has a 50 day moving average of $92.80 and a 200-day moving average of $96.36.

Several large investors have recently added to or reduced their stakes in the stock. St. James Investment Company LLC raised its stake in McCormick & Company, by 7.3% in the second quarter. St. James Investment Company LLC now owns 8,631 shares of the company’s stock valued at $921,000 after buying an additional 588 shares during the last quarter. BB&T Corp increased its position in shares of McCormick & Company, by 580.0% in the second quarter. BB&T Corp now owns 169,660 shares of the company’s stock worth $18,098,000 after buying an additional 144,709 shares during the period. Bank of Hawaii increased its position in shares of McCormick & Company, by 6.4% in the second quarter. Bank of Hawaii now owns 8,550 shares of the company’s stock worth $912,000 after buying an additional 512 shares during the period. Eads & Heald Investment Counsel increased its position in shares of McCormick & Company, by 8.1% in the second quarter. Eads & Heald Investment Counsel now owns 5,070 shares of the company’s stock worth $541,000 after buying an additional 380 shares during the period. Finally, Beck Mack & Oliver LLC increased its position in shares of McCormick & Company, by 225.4% in the second quarter. Beck Mack & Oliver LLC now owns 7,002 shares of the company’s stock worth $747,000 after buying an additional 4,850 shares during the period. 73.25% of the stock is owned by hedge funds and other institutional investors.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, December 28th. This represents a $1.88 annualized dividend and a dividend yield of 1.96%. This is a positive change from McCormick & Company,’s previous quarterly dividend of $0.43. McCormick & Company,’s dividend payout ratio is presently 50.81%.

McCormick & Company, Company Profile

McCormick & Company, Incorporated manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company operates in two segments: consumer and industrial. Its brands in the Americas include McCormick, Lawry’s, Stubb’s, Club House, Zatarain’s, Thai Kitchen and Simply Asia.

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