McCormick & Company, Incorporated (MKC) Declares Quarterly Dividend of $0.47
McCormick & Company, Incorporated (NYSE:MKC) announced a quarterly dividend on Tuesday, September 26th, RTT News reports. Shareholders of record on Tuesday, October 10th will be paid a dividend of 0.47 per share on Tuesday, October 24th. This represents a $1.88 dividend on an annualized basis and a yield of 1.94%.
McCormick & Company, has raised its dividend by an average of 8.1% per year over the last three years and has raised its dividend annually for the last 30 consecutive years. McCormick & Company, has a dividend payout ratio of 46.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect McCormick & Company, to earn $4.59 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 41.0%.
Shares of McCormick & Company, (NYSE MKC) traded up 0.52% during midday trading on Tuesday, reaching $97.28. The company’s stock had a trading volume of 1,061,614 shares. The company has a 50-day moving average price of $96.50 and a 200-day moving average price of $99.04. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of 25.84 and a beta of 0.52. McCormick & Company, has a 12 month low of $88.64 and a 12 month high of $106.50.
McCormick & Company, (NYSE:MKC) last issued its earnings results on Thursday, June 29th. The company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.06. McCormick & Company, had a return on equity of 28.28% and a net margin of 10.69%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts expect that McCormick & Company, will post $4.13 earnings per share for the current year.
Several research analysts have recently commented on the company. BidaskClub upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research downgraded McCormick & Company, from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Jefferies Group LLC restated a “hold” rating and issued a $95.00 price target on shares of McCormick & Company, in a research note on Thursday, July 27th. Credit Suisse Group set a $108.00 price target on McCormick & Company, and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Goldman Sachs Group, Inc. (The) began coverage on McCormick & Company, in a research note on Friday, June 16th. They issued a “neutral” rating and a $101.00 price target for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $103.50.
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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