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

McCormick & Company, Incorporated (NYSE:MKC) declared a quarterly dividend on Wednesday, March 26th, RTT News reports. Investors 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 yield of 2.20%. The ex-dividend date is Monday, April 7th.

McCormick & Company, Incorporated has raised its dividend by an average of 7.2% annually over the last three years and has raised its dividend annually for the last 38 consecutive years. McCormick & Company, Incorporated has a dividend payout ratio of 54.1% meaning 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 MKC stock opened at $81.64 on Friday. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The company has a market capitalization of $21.89 billion, a P/E ratio of 27.86, a P/E/G ratio of 3.76 and a beta of 0.71. The stock has a 50 day moving average of $79.09 and a two-hundred day moving average of $78.88. The company has a current ratio of 0.74, a quick ratio of 0.31 and a debt-to-equity ratio of 0.68.

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

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Margaret M. V. Preston sold 28,092 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were 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 filing with the SEC, which is available through this link. Insiders own 23.80% of the company’s stock.

Wall Street Analyst Weigh In

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

About McCormick & Company, Incorporated

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.