McCormick & Company, Incorporated to Issue Quarterly Dividend of $0.42 (NYSE:MKC)

McCormick & Company, Incorporated (NYSE:MKC) announced a quarterly dividend on Tuesday, September 24th, NASDAQ reports. Shareholders of record on Monday, October 7th will be given a dividend of 0.42 per share on Monday, October 21st. This represents a $1.68 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Monday, October 7th.

McCormick & Company, Incorporated has increased its dividend by an average of 7.8% annually over the last three years and has raised its dividend annually for the last 37 consecutive years. McCormick & Company, Incorporated has a dividend payout ratio of 54.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect McCormick & Company, Incorporated to earn $3.06 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 54.9%.

McCormick & Company, Incorporated Trading Down 0.3 %

Shares of MKC opened at $80.61 on Friday. The firm has a market capitalization of $21.65 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 4.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $85.49. The company has a 50-day moving average of $80.43 and a 200 day moving average of $75.37.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s revenue was down .3% on a year-over-year basis. On average, research analysts expect that McCormick & Company, Incorporated will post 2.85 EPS for the current year.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the director now owns 199,258 shares in the company, valued at $14,944,350. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 22.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MKC shares. Stifel Nicolaus increased their price target on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday. TD Cowen increased their target price on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday. Citigroup raised shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the company from $68.00 to $69.00 in a research report on Wednesday, June 12th. Bank of America upped their price target on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $79.57.

About McCormick & Company, Incorporated

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.