McCormick & Company, Incorporated (NYSE:MKC) announced a quarterly dividend on Tuesday, June 27th, RTT News reports. Investors of record on Monday, July 10th will be given a dividend of 0.47 per share on Monday, July 24th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, July 6th.
McCormick & Company, has increased its dividend payment by an average of 8.1% per year over the last three years and has raised its dividend every year for the last 30 years. McCormick & Company, has a dividend payout ratio of 46.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect McCormick & Company, to earn $4.45 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 42.2%.
McCormick & Company, (MKC) traded down 0.087% during midday trading on Tuesday, hitting $97.195. 39,878 shares of the company were exchanged. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 25.815 and a beta of 0.52. The stock has a 50 day moving average of $102.31 and a 200-day moving average of $98.43. McCormick & Company, has a 1-year low of $88.64 and a 1-year high of $106.50.
McCormick & Company, (NYSE:MKC) last issued its earnings results on Thursday, June 29th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.06. McCormick & Company, had a net margin of 10.69% and a return on equity of 28.28%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts expect that McCormick & Company, will post $4.09 earnings per share for the current year.
In other news, Director Maritza Gomez Montiel bought 2,500 shares of McCormick & Company, stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average price of $99.62 per share, with a total value of $249,050.00. Following the completion of the acquisition, the director now directly owns 2,500 shares in the company, valued at $249,050. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.30% of the company’s stock.
Several analysts have recently commented on MKC shares. Edward Jones upgraded shares of McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Thursday, April 6th. J P Morgan Chase & Co raised shares of McCormick & Company, from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $91.00 to $96.00 in a research note on Wednesday, April 5th. Zacks Investment Research lowered shares of McCormick & Company, from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Jefferies Group LLC reiterated a “hold” rating and set a $95.00 price objective on shares of McCormick & Company, in a report on Friday, May 19th. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of McCormick & Company, in a report on Friday, June 16th. They issued a “neutral” rating and a $101.00 price target for the company. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $102.33.
McCormick & Company, Company Profile
McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.
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