McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) declared a quarterly dividend on Tuesday, June 25th, RTT News reports. Shareholders of record on Monday, July 8th will be paid a dividend of 0.42 per share on Monday, July 22nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Monday, July 8th.
McCormick & Company, Incorporated has raised its dividend by an average of 7.8% per year over the last three years and has increased its dividend annually for the last 37 consecutive years. McCormick & Company, Incorporated has a payout ratio of 54.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Down 1.3 %
Shares of McCormick & Company, Incorporated stock opened at $67.67 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.30 and a current ratio of 0.68. McCormick & Company, Incorporated has a 52-week low of $59.13 and a 52-week high of $93.77. The stock has a market capitalization of $18.16 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 3.58 and a beta of 0.74. The company’s 50 day moving average price is $72.39 and its 200-day moving average price is $70.14.
Analyst Ratings Changes
MKC has been the topic of several recent analyst reports. Citigroup upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and raised their target price for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. Stifel Nicolaus raised their price target on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, March 27th. TD Cowen dropped their price target on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research note on Monday. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research note on Tuesday, April 2nd. Finally, Barclays raised their price target on McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $76.25.
Check Out Our Latest Report on McCormick & Company, Incorporated
Insider Buying and Selling at McCormick & Company, Incorporated
In other news, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the transaction, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Lawrence Erik Kurzius sold 80,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the completion of the transaction, the director now directly owns 199,258 shares in the company, valued at $14,695,277.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patricia A. Little sold 20,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now owns 24,732 shares of the company’s stock, valued at $1,868,997.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,458 shares of company stock valued at $7,747,114. 22.90% of the stock is currently owned by company 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.
See Also
- Five stocks we like better than McCormick & Company, Incorporated
- Are Penny Stocks a Good Fit for Your Portfolio?
- Why Paychex Stock’s Dip is the Best Opportunity in Today’s Cycle
- How to Calculate Options Profits
- Any Pullback in Tech May Signal a Rotation into These 3 Sectors
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- 3 Stocks to Watch: Oracle, Casey’s, FedEx Signal Big Gains
Receive News & Ratings for McCormick & Company Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McCormick & Company Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.