McCormick & Company, Incorporated (MKC) To Go Ex-Dividend on October 7th

McCormick & Company, Incorporated (NYSE:MKC) announced a quarterly dividend on Tuesday, September 24th, NASDAQ reports. Stockholders 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 dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, October 7th.

McCormick & Company, Incorporated has increased its dividend payment by an average of 7.8% annually over the last three years and has increased its dividend every year for the last 37 years. McCormick & Company, Incorporated has a dividend payout ratio of 54.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE:MKC opened at $80.61 on Friday. McCormick & Company, Incorporated has a 52 week low of $59.13 and a 52 week high of $85.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. The firm’s 50-day simple moving average is $80.43 and its 200 day simple moving average is $75.33. The firm has a market cap of $21.65 billion, a price-to-earnings ratio of 29.42, a P/E/G ratio of 4.24 and a beta of 0.77.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on MKC. BNP Paribas upgraded McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday. Stifel Nicolaus increased their target price on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday. TD Cowen raised their price target on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday. Bank of America upped their price objective 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, 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 report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $79.57.

Insider Buying and Selling

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 25,000 shares of McCormick & Company, Incorporated stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 22.90% of the stock is owned by corporate insiders.

McCormick & Company, Incorporated Company Profile

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.