Revenue Update on McCormick & Company Incorporated(NYSE:MKC)

McCormick & Company Incorporated(NYSE:MKC) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during Pre-market on Sep 30, 2016. Company reported revenue of $1.09B. Analysts estimated a revenue of $1.09B. Earnings per share were $1.03. Analysts had estimated an EPS of $0.95.

In a different note, On Sep 23, 2016, Deutsche Bank said it Maintains its rating on McCormick & Company Incorporated. In the research note, the firm Lowers the price-target to $113.00 per share. The shares have been rated ‘Buy’ by the firm.

McCormick & Company Incorporated (MKC) shares turned negative on Tuesdays trading session with the shares closing down -0.46 points or -0.47% at a volume of 10,36,455. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $97.98. The peak price level was also seen at $97.98 while the days lowest was $96.17. Finally the shares closed at $96.47. The 52-week high of the shares is $107.84 while the 52-week low is $78.45. According to the latest information available, the market cap of the company is $12,218 M.

McCormick & Company Incorporated has also declared a cash dividend of $0.4300 on Sep 27, 2016. The shares will quote ex-dividend on Oct 7, 2016 and the record date has been fixed on Oct 11, 2016. The dividend payable date has been fixed on Oct 25, 2016.

Several Insider Transactions has been reported to the SEC. On Jul 14, 2016, Gordon Mckenzie Jr Stetz (Executive Vice President & CFO) sold 38,900 shares at $105.17 per share price.Also, On Jul 6, 2016, Patricia A Little (director) sold 3,750 shares at $107.22 per share price.On May 23, 2016, Nneka Louise Rimmer (Sr. VP Corp Strategy & Develop) sold 560 shares at $96.00 per share price, according to the Form-4 filing with the securities and exchange commission.

McCormick & Company Incorporated manufactures markets and distributes spices seasoning mixes condiments and other flavorful products to the food industry. The Company has two business segments: consumer and industrial. Under the Consumer segment its brands in the Americas include McCormick Lawry’s and Club House. It also markets ethnic brands such as Zatarain’s Thai Kitchen and Simply Asia. In Europe the Middle East and Africa (EMEA) its brands include the Ducros Schwartz and Kamis brands of spices herbs and seasonings and a line of Vahine brand dessert items. In the Asia/Pacific region it markets products under the McCormick and DaQiao brands. In Australia it markets products under the McCormick brand. In India its majority-owned joint venture owns and trades under the Kohinoor brand. In the industrial business segment it offers seasoning blends spices and herbs condiments coating systems and compound flavors to food manufacturers and foodservice customers.

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