McCormick & Company, Incorporated (MKC) To Go Ex-Dividend on April 5th

McCormick & Company, Incorporated (NYSE:MKCGet Free Report) announced a quarterly dividend on Wednesday, March 27th, RTT News reports. Investors of record on Monday, April 8th will be given a dividend of 0.42 per share on Monday, April 22nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, April 5th.

McCormick & Company, Incorporated has increased its dividend by an average of 7.8% per year over the last three years and has raised its dividend every year for the last 37 years. McCormick & Company, Incorporated has a payout ratio of 54.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect McCormick & Company, Incorporated to earn $3.04 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 55.3%.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $78.27 on Wednesday. McCormick & Company, Incorporated has a fifty-two week low of $59.13 and a fifty-two week high of $94.39. The company has a market capitalization of $21.00 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 3.94 and a beta of 0.74. The stock has a fifty day moving average of $68.66 and a two-hundred day moving average of $67.62. 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 (NYSE:MKCGet Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. McCormick & Company, Incorporated had a net margin of 10.56% and a return on equity of 14.45%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, analysts anticipate that McCormick & Company, Incorporated will post 2.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Consumer Edge lowered McCormick & Company, Incorporated from an “overweight” rating to an “equal weight” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. decreased their price target on McCormick & Company, Incorporated from $59.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, January 26th. Citigroup upped their price objective on shares of McCormick & Company, Incorporated from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Wednesday, March 27th. Barclays raised their target price on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 28th. Finally, Argus raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of “Hold” and an average target price of $77.88.

Get Our Latest Stock Analysis on McCormick & Company, Incorporated

Insider Activity at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $75.57, for a total transaction of $1,511,400.00. Following the completion of the sale, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Michael D. Mangan sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $65.20, for a total transaction of $326,000.00. Following the sale, the director now directly owns 39,181 shares in the company, valued at approximately $2,554,601.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Patricia A. Little sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.57, for a total value of $1,511,400.00. Following the transaction, the director now directly owns 24,732 shares in the company, valued at $1,868,997.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,000 shares of company stock worth $2,376,400. Company insiders own 22.90% of the company’s stock.

Institutional Trading of McCormick & Company, Incorporated

A number of hedge funds have recently made changes to their positions in MKC. Federated Hermes Inc. grew its holdings in McCormick & Company, Incorporated by 408.6% during the 1st quarter. Federated Hermes Inc. now owns 1,648 shares of the company’s stock valued at $164,000 after purchasing an additional 1,324 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of McCormick & Company, Incorporated during the second quarter valued at about $157,000. Belpointe Asset Management LLC grew its stake in shares of McCormick & Company, Incorporated by 89.8% during the first quarter. Belpointe Asset Management LLC now owns 1,849 shares of the company’s stock valued at $154,000 after acquiring an additional 875 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of McCormick & Company, Incorporated by 16.9% during the first quarter. First Horizon Advisors Inc. now owns 1,698 shares of the company’s stock worth $141,000 after acquiring an additional 245 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of McCormick & Company, Incorporated in the first quarter worth about $86,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

About McCormick & Company, Incorporated

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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.

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Dividend History for McCormick & Company, Incorporated (NYSE:MKC)

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