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

McCormick & Company, Incorporated (NYSE:MKC) declared a quarterly dividend on Wednesday, April 8th. Shareholders of record on Monday, April 20th will be paid a dividend of 0.48 per share on Monday, April 27th. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, April 20th.

McCormick & Company, Incorporated has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 38 years. McCormick & Company, Incorporated has a dividend payout ratio of 57.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect McCormick & Company, Incorporated to earn $3.31 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 58.0%.

McCormick & Company, Incorporated Trading Down 0.9%

Shares of NYSE:MKC opened at $50.57 on Thursday. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 2.40 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.28 and a current ratio of 0.76. The stock’s 50-day simple moving average is $61.48 and its two-hundred day simple moving average is $64.57. McCormick & Company, Incorporated has a 52-week low of $47.52 and a 52-week high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.79 billion. McCormick & Company, Incorporated had a return on equity of 13.29% and a net margin of 23.12%.The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. Analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BNP Paribas Exane dropped their target price on McCormick & Company, Incorporated from $83.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 1st. HSBC dropped their target price on McCormick & Company, Incorporated from $69.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Barclays decreased their price objective on McCormick & Company, Incorporated from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Sanford C. Bernstein decreased their price objective on McCormick & Company, Incorporated from $85.00 to $77.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. decreased their price objective on McCormick & Company, Incorporated from $67.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $64.27.

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.