McCormick & Company, Incorporated to Issue Quarterly Dividend of $ 0.34 (NYSE: MKC)
McCormick & Company, Incorporated (NYSE: MKC) declared a quarterly dividend on Tuesday, September 28, RTT News reports. Shareholders of record on Tuesday October 12 will receive a dividend of 0.34 per share on Tuesday October 26. This represents a dividend of $ 1.36 on an annualized basis and a return of 1.63%.
McCormick & Company, Incorporated has increased its dividend by 14.0% over the past three years and has increased its dividend annually for the past 36 consecutive years. McCormick & Company, Incorporated has a dividend payout ratio of 54.3%, indicating that its dividend is sufficiently covered by earnings. Analysts expect McCormick & Company, Incorporated to earn $ 3.17 per share next year, which means the company should continue to be able to cover its annual dividend of $ 1.64 with a rate expected future distribution of 51.7%.
MKC traded at $ 1.09 on Tuesday, reaching $ 83.26. 1,559,905 shares of the company traded hands, compared to its average volume of 1,245,793. The 50-day moving average price of the stock is $ 85.71 and its 200-day moving average price is $ 87.69. The company has a debt to equity ratio of 1.09, a current ratio of 0.86, and a quick ratio of 0.38. McCormick & Company, Incorporated has a 52 week low of $ 82.03 and a 52 week high of $ 101.67. The company has a market cap of $ 22.25 billion, a price / earnings ratio of 30.29, a PEG ratio of 4.13 and a beta of 0.48.
McCormick & Company, Incorporated (NYSE: MKC) last reported quarterly results on Wednesday, June 30. The company reported earnings per share of $ 0.69 for the quarter, beating analyst consensus estimates of $ 0.62 by $ 0.07. McCormick & Company, Incorporated had a net margin of 12.48% and a return on equity of 19.50%. The company posted revenue of $ 1.56 billion for the quarter, compared to a consensus estimate of $ 1.47 billion. During the same period last year, the company posted $ 0.73 in EPS. McCormick & Company, Incorporated revenue for the quarter increased 11.1% year-over-year. As a group, equity research analysts predict that McCormick & Company, Incorporated will post earnings per share of 3.03 for the current fiscal year.
In other news from McCormick & Company, Incorporated, Director Freeman A. Hrabowski III sold 2,870 shares in a trade on Friday, August 20. The stock was sold for an average price of $ 87.50, for a total trade of $ 251,125.00. As a result of the sale, the Director now owns 92,983 shares of the company, valued at approximately $ 8,136,012.50. The sale was disclosed in a legal file with the Securities & Exchange Commission, accessible through this hyperlink. 13.90% of the shares are currently held by insiders of the company.
Several analysts recently commented on the title. Credit Suisse Group lowered its target price on shares of McCormick & Company, Incorporated from $ 104.00 to $ 100.00 and established an “outperformance” rating for the company in a report released on Monday, September 13. Stifel Nicolaus reiterated a “hold” note and issued a price target of $ 89 on McCormick & Company, Incorporated shares in a report released on Friday, July 2. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on McCormick & Company, Incorporated from $ 95.00 to $ 91.00 and set a “hold” rating on the stock in a research report on Friday, September 17. Four analysts rated the stock with a conservation rating and one gave the company a buy rating. According to MarketBeat.com, the company currently has an average “Hold” rating and a consensus target price of $ 93.33.
About McCormick & Company, Incorporated
McCormick & Co, Inc is engaged in the manufacture, marketing and distribution of spices, seasoning mixes, condiments and other flavorful products to retail outlets, food manufacturers and retailers. catering companies. It operates through the following segments: Consumer and Flavor Solutions. The consumer segment operates by selling to retail channels including grocery stores, mass merchandise, warehouse clubs, discount stores and drugstores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s, Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.
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