McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.80-2.85 for the period, compared to the consensus estimate of $2.82. The company issued revenue guidance of down 2% to flat yr/yr to ~$6.53-6.67 billion, compared to the consensus revenue estimate of $6.64 billion. McCormick & Company, Incorporated also updated its FY 2024 guidance to 2.800-2.850 EPS.
McCormick & Company, Incorporated Stock Performance
Shares of NYSE:MKC opened at $69.94 on Tuesday. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $94.39. The firm’s 50-day moving average is $67.41 and its 200 day moving average is $67.83. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 3.80 and a beta of 0.73. The company has a current ratio of 0.65, a quick ratio of 0.28 and a debt-to-equity ratio of 0.66.
McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. McCormick & Company, Incorporated had a return on equity of 14.55% and a net margin of 10.22%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the business earned $0.59 EPS. McCormick & Company, Incorporated’s revenue was up 2.4% compared to the same quarter last year. Research analysts predict that McCormick & Company, Incorporated will post 2.82 EPS for the current year.
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Insiders Place Their Bets
In related news, Director Michael D. Mangan sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the completion of the transaction, the director now directly owns 39,181 shares of the company’s stock, valued at $2,554,601.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 22.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On McCormick & Company, Incorporated
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new stake in McCormick & Company, Incorporated during the 1st quarter worth $44,000. ICA Group Wealth Management LLC bought a new position in McCormick & Company, Incorporated during the 4th quarter valued at $46,000. KB Financial Partners LLC bought a new stake in McCormick & Company, Incorporated in the first quarter valued at about $49,000. Milestone Investment Advisors LLC acquired a new position in shares of McCormick & Company, Incorporated in the 1st quarter worth approximately $52,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of McCormick & Company, Incorporated during the 1st quarter valued at approximately $59,000. Institutional investors and hedge funds own 79.74% of the company’s stock.
McCormick & Company, Incorporated Company Profile
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.
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