McCormick & Company, Incorporated (MKC) to Issue Quarterly Dividend of $0.47

McCormick & Company, Incorporated (NYSE:MKC) announced a quarterly dividend on Tuesday, June 27th, NASDAQ reports. Stockholders of record on Monday, July 10th will be paid a dividend of 0.47 per share on Friday, July 14th. This represents a $1.88 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, July 6th.

McCormick & Company, has raised its dividend payment by an average of 8.1% annually over the last three years and has increased its dividend every year for the last 30 years. McCormick & Company, has a payout ratio of 45.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect McCormick & Company, to earn $4.46 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%.

Shares of McCormick & Company, (MKC) traded up 0.28% during mid-day trading on Friday, hitting $95.52. The stock had a trading volume of 1,012,920 shares. The firm has a 50 day moving average of $98.17 and a 200-day moving average of $98.81. The stock has a market cap of $11.90 billion, a P/E ratio of 25.37 and a beta of 0.52. McCormick & Company, has a one year low of $88.64 and a one year high of $106.50.

McCormick & Company, (NYSE:MKC) last issued its quarterly earnings results on Thursday, June 29th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.06. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. Equities research analysts expect that McCormick & Company, will post $4.08 earnings per share for the current fiscal year.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised McCormick & Company, from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research note on Thursday, June 1st. Jefferies Group LLC raised McCormick & Company, from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $110.00 in a research note on Friday. Credit Suisse Group set a $108.00 price objective on McCormick & Company, and gave the stock a “buy” rating in a research note on Saturday, July 1st. BidaskClub lowered McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) began coverage on McCormick & Company, in a research note on Friday, June 16th. They set a “neutral” rating and a $101.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. McCormick & Company, presently has a consensus rating of “Hold” and a consensus price target of $104.00.

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In other news, Director Maritza Gomez Montiel acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average price of $99.62 per share, for a total transaction of $249,050.00. Following the acquisition, the director now owns 2,500 shares of the company’s stock, valued at $249,050. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.30% of the stock is currently owned by insiders.

About McCormick & Company,

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.

Dividend History for McCormick & Company, (NYSE:MKC)

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