McCormick & Company, Incorporated Announces Quarterly Dividend of $0.45 (NYSE:MKC)

McCormick & Company, Incorporated (NYSE:MKC) announced a quarterly dividend on Wednesday, March 26th, RTT News reports. Stockholders of record on Monday, April 7th will be paid a dividend of 0.45 per share on Monday, April 21st. This represents a $1.80 annualized dividend and a dividend yield of 2.23%.

McCormick & Company, Incorporated has raised its dividend payment by an average of 7.2% annually over the last three years and has increased its dividend annually for the last 38 consecutive years. McCormick & Company, Incorporated has a dividend payout ratio of 54.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect McCormick & Company, Incorporated to earn $3.31 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 54.4%.

McCormick & Company, Incorporated Price Performance

Shares of McCormick & Company, Incorporated stock opened at $80.85 on Thursday. The firm has a fifty day moving average price of $78.93 and a two-hundred day moving average price of $78.86. McCormick & Company, Incorporated has a fifty-two week low of $66.88 and a fifty-two week high of $86.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31. The company has a market cap of $21.68 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 3.76 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. Analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the completion of the sale, the director now owns 6,177 shares of the company’s stock, valued at $475,814.31. This trade represents a 81.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MKC has been the topic of several research analyst reports. TD Cowen raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. Jefferies Financial Group raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $91.00 in a research note on Monday, December 9th. Finally, Barclays dropped their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.75.

McCormick & Company, Incorporated Company Profile

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.