McCormick & Company, Incorporated Declares Quarterly Dividend of $0.48 (NYSE:MKC)

McCormick & Company, Incorporated (NYSE:MKC) declared a quarterly dividend on Tuesday, June 23rd. Stockholders of record on Monday, July 6th will be given a dividend of 0.48 per share on Monday, July 20th. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, July 6th.

McCormick & Company, Incorporated has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 38 consecutive years. McCormick & Company, Incorporated has a payout ratio of 57.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect McCormick & Company, Incorporated to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 56.5%.

McCormick & Company, Incorporated Stock Performance

Shares of NYSE:MKC opened at $47.41 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.36. The business’s 50 day moving average price is $48.68 and its 200-day moving average price is $58.24. The firm has a market capitalization of $12.74 billion, a PE ratio of 7.77, a P/E/G ratio of 2.26 and a beta of 0.65. McCormick & Company, Incorporated has a 1 year low of $44.82 and a 1 year high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The firm’s revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. As a group, equities research analysts expect that McCormick & Company, Incorporated will post 3.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BNP Paribas Exane reduced their target price on shares of McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. TD Cowen lowered their price target on shares of McCormick & Company, Incorporated from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Barclays dropped their price objective on shares of McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Sanford C. Bernstein cut their price objective on shares of McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating for the company in a report on Tuesday, March 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of McCormick & Company, Incorporated from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus target price of $61.90.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.