McCormick & Company, Incorporated (MKC) To Go Ex-Dividend on July 8th

McCormick & Company, Incorporated (NYSE:MKC) declared a quarterly dividend on Tuesday, June 25th, RTT News reports. Stockholders of record on Monday, July 8th will be given a dividend of 0.42 per share on Monday, July 22nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Monday, July 8th.

McCormick & Company, Incorporated has increased its dividend payment by an average of 7.8% per year over the last three years and has raised its dividend every year for the last 37 years. McCormick & Company, Incorporated has a payout ratio of 54.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect McCormick & Company, Incorporated to earn $3.05 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 55.1%.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $67.67 on Thursday. The stock’s 50-day moving average is $72.39 and its 200-day moving average is $70.14. The company has a market cap of $18.16 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 3.58 and a beta of 0.74. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.68 and a quick ratio of 0.30. McCormick & Company, Incorporated has a 12 month low of $59.13 and a 12 month high of $93.77.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a return on equity of 14.45% and a net margin of 10.56%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS. Equities analysts anticipate that McCormick & Company, Incorporated will post 2.84 earnings per share for the current year.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 1,726 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total transaction of $128,328.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Katherine Jenkins sold 1,726 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $74.35, for a total value of $128,328.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence Erik Kurzius sold 80,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total value of $5,900,000.00. Following the completion of the transaction, the director now owns 199,258 shares of the company’s stock, valued at approximately $14,695,277.50. The disclosure for this sale can be found here. Insiders sold a total of 104,458 shares of company stock worth $7,747,114 in the last 90 days. 22.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MKC. Barclays raised their price objective on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a report on Thursday, March 28th. TD Cowen dropped their target price on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating on the stock in a report on Monday. Citigroup upgraded 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. Argus upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus raised their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and a consensus price target of $76.25.

About McCormick & Company, Incorporated

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.