McCormick & Company, Incorporated (NYSE: MKC) to issue dividend increase – $ 0.37 per share
McCormick & Company, Incorporated (NYSE: MKC) declared a quarterly dividend on Tuesday, November 30, RTT News reports. Shareholders of record on Friday December 31 will receive a dividend of 0.37 per share on Monday January 10. This represents a dividend of $ 1.48 on an annualized basis and a return of 1.72%. This is a positive change from the previous quarterly dividend of $ 0.34 from McCormick & Company, Incorporated.
McCormick & Company, Incorporated has increased its dividend by 14.0% over the past three years and has increased its dividend annually for the past 35 consecutive years. McCormick & Company, Incorporated has a dividend payout ratio of 43.9%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect McCormick & Company, Incorporated to earn $ 3.09 per share next year, which means the company should continue to be able to cover its annual dividend of $ 1.36 with an expected future payout rate of 44.0%.
NYSE: MKC shares traded down $ 1.17 in Tuesday’s noon session, reaching $ 85.82. The company’s shares had a trading volume of 6,211,328 shares, compared to its average volume of 1,247,255. The company has a 50-day moving average of $ 81.98 and a 200-day moving average of 85. , $ 31. The company has a market cap of $ 22.94 billion, a P / E ratio of 30.96, a PEG ratio of 4.48 and a beta of 0.47. The company has a quick ratio of 0.30, a current ratio of 0.68, and a debt ratio of 0.91. McCormick & Company, Incorporated has a 12-month low of $ 77.85 and a 12-month high of $ 98.80.
McCormick & Company, Incorporated (NYSE: MKC) last released its results on Wednesday, September 29. The company reported earnings per share of $ 0.80 for the quarter, beating the consensus estimate of $ 0.72 by $ 0.08 by the Zacks. The company posted revenue of $ 1.59 billion for the quarter, compared to a consensus estimate of $ 1.54 billion. McCormick & Company, Incorporated had a net margin of 12.34% and a return on equity of 19.23%. The company’s revenue increased 11.5% compared to the same quarter last year. During the same period of the previous year, the company earned $ 0.76 per share. On average, research analysts predict that McCormick & Company, Incorporated will post 3.01 EPS for the current year.
A number of brokerage firms have recently published reports on MKC. Credit Suisse Group lowered its price target on McCormick & Company, Incorporated shares from $ 100.00 to $ 98.00 and established an “outperformance” rating on the stock in a research note on Friday 1st October. Zacks Investment Research upgraded shares of McCormick & Company, Incorporated from a “sell” rating to a “keep” rating and set a target price of $ 87.00 on the stock in a research note on Thursday 11 November. Deutsche Bank Aktiengesellschaft lowered its price target on McCormick & Company, Incorporated shares from $ 91.00 to $ 89.00 and set a âholdâ rating on the stock in a research note on Friday 1st October. Finally, TheStreet upgraded shares of McCormick & Company, Incorporated from a âc +â rating to a âbâ rating in a Tuesday, November 23 research note. Four analysts rated the stock with a conservation rating and one assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of âHoldâ and a consensus target price of $ 90.75.
In addition, director Maritza Gomez Montiel sold 394 shares in a transaction that took place on Thursday, October 28. The shares were sold for an average price of $ 80.84, for a total value of $ 31,850.96. The sale was disclosed in a legal file with the SEC, which is available on the SEC’s website. 13.90% of the shares are currently held by insiders.
About McCormick & Company, Incorporated
McCormick & Co, Inc is engaged in the manufacture, marketing and distribution of spices, seasoning blends, condiments and other flavorful products to retail outlets, food manufacturers and retailers. catering companies. It operates through the following segments: Consumer and Flavor Solutions. The consumer segment operates by selling to retail channels including grocery stores, mass merchandise, warehouse clubs, discount stores and drugstores, and e-commerce through the following brands: McCormick, Lawry’s, Zatarain’s , Simply Asia, Thai Kitchen, Ducros, Vahine, Schwartz, Club House, Kamis, Kohinoor and DaQiao.
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