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

McCormick & Company Incorporated(NYSE:MKC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jun 30, 2016. Company reported revenue of $1.06B. Analysts estimated a revenue of $1.06B. Earnings per share were $0.75. Analysts had estimated an EPS of $0.74.

In a different note, On Jun 23, 2016, Citigroup said it Upgrades its rating on McCormick & Company Incorporated. In the research note, the firm Raises the price-target to $85.00 per share. The shares have been rated ‘Neutral’ by the firm. On Apr 19, 2016, Credit Suisse said it Reinstates its rating on McCormick & Company Incorporated. The shares have been rated ‘Neutral’ by the firm.

McCormick & Company Incorporated (MKC) made into the market gainers list on Tuesdays trading session with the shares advancing 1.13% or 1.2 points. Due to strong positive momentum, the stock ended at $107.07, which is also near the day’s high of $107.84. The stock began the session at $106.08 and the volume stood at 10,18,780 shares. The 52-week high of the shares is $107.84 and the 52 week low is $75.68. The company has a current market capitalization of $13,560 M and it has 12,66,50,736 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 23, 2016, Nneka Louise Rimmer (Sr. VP Corp Strategy & Develop) sold 560 shares at $96.00 per share price.Also, On May 5, 2016, Malcolm Swift (President Global Industrial &) sold 26,950 shares at $95.01 per share price.On Apr 20, 2016, Gordon Mckenzie Jr Stetz (Executive Vice President & CFO) sold 37,000 shares at $95.03 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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