McCormick & Company, Incorporated (MKC) To Go Ex-Dividend on December 30th

McCormick & Company, Incorporated (NYSE:MKC) announced a quarterly dividend on Tuesday, November 19th,RTT News reports. Investors of record on Monday, December 30th will be paid a dividend of 0.45 per share on Monday, January 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42.

McCormick & Company, Incorporated has raised its dividend payment by an average of 7.8% per year over the last three years and has increased its dividend every year for the last 38 years. McCormick & Company, Incorporated has a payout ratio of 57.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect McCormick & Company, Incorporated to earn $3.12 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 57.7%.

McCormick & Company, Incorporated Stock Down 1.0 %

Shares of MKC opened at $77.05 on Friday. The company has a market capitalization of $20.68 billion, a P/E ratio of 26.21, a PEG ratio of 3.44 and a beta of 0.75. McCormick & Company, Incorporated has a one year low of $63.88 and a one year high of $85.49. The business’s 50 day simple moving average is $78.03 and its 200-day simple moving average is $77.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, sell-side analysts predict that McCormick & Company, Incorporated will post 2.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MKC shares. Stifel Nicolaus upped their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. TD Cowen upped their price objective on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. BNP Paribas raised McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America boosted their target price on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group upgraded McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $91.00 in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $81.00.

Insider Buying and Selling

In related news, Director Jacques Tapiero sold 5,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $78.33, for a total transaction of $391,650.00. Following the completion of the transaction, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 20,000 shares of company stock worth $1,565,850 over the last ninety days. Company insiders own 22.90% of the company’s stock.

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.