McCormick & Company, Incorporated (NYSE:MKC) Plans Quarterly Dividend of $0.45

McCormick & Company, Incorporated (NYSE:MKC) declared a quarterly dividend on Tuesday, November 19th,RTT News reports. Shareholders of record on Monday, December 30th will be given a dividend of 0.45 per share on Monday, January 13th. This represents a $1.80 annualized dividend and a yield of 2.38%. This is an increase from McCormick & Company, Incorporated’s previous quarterly dividend of $0.42.

McCormick & Company, Incorporated has increased its dividend by an average of 7.8% annually 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 53.8% indicating that its dividend is sufficiently covered by earnings. 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 $1.68 annual dividend with an expected future payout ratio of 53.8%.

McCormick & Company, Incorporated Trading Up 0.5 %

McCormick & Company, Incorporated stock traded up $0.41 during midday trading on Wednesday, reaching $75.72. The stock had a trading volume of 112,707 shares, compared to its average volume of 1,898,358. The stock’s 50-day simple moving average is $79.96 and its 200 day simple moving average is $76.22. The stock has a market capitalization of $20.32 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 3.38 and a beta of 0.77. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.71.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MKC shares. TD Cowen upped their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Bank of America increased their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus increased their price target 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. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $79.57.

Insider Buying and Selling

In other news, Director Jacques Tapiero sold 5,000 shares of McCormick & Company, Incorporated stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $77.34, for a total transaction of $386,700.00. Following the completion of the transaction, the director now directly owns 28,217 shares in the company, valued at $2,182,302.78. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 20,000 shares of company stock valued at $1,565,850 over the last quarter. Insiders own 22.90% of the company’s stock.

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.