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

McCormick & Company, Incorporated (NYSE:MKC) announced a quarterly dividend on Tuesday, June 23rd. Shareholders of record on Monday, July 6th will be paid a dividend of 0.48 per share on Monday, July 20th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Monday, July 6th.

McCormick & Company, Incorporated has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 38 consecutive years. McCormick & Company, Incorporated has a payout ratio of 57.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect McCormick & Company, Incorporated to earn $3.40 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 56.5%.

McCormick & Company, Incorporated Stock Performance

McCormick & Company, Incorporated stock opened at $47.41 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.36 and a current ratio of 0.76. The stock has a fifty day moving average of $48.68 and a two-hundred day moving average of $58.24. The company has a market capitalization of $12.74 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 2.26 and a beta of 0.65. McCormick & Company, Incorporated has a fifty-two week low of $44.82 and a fifty-two week high of $78.16.

McCormick & Company, Incorporated (NYSE:MKC) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate 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 was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. On average, analysts anticipate that McCormick & Company, Incorporated will post 3.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, Director Gavin Hattersley purchased 2,000 shares of the stock in a transaction on Friday, April 10th. The stock was bought at an average price of $52.98 per share, for a total transaction of $105,960.00. Following the acquisition, the director directly owned 2,906 shares of the company’s stock, valued at $153,959.88. This represents a 220.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Rafferty Asset Management LLC raised its holdings in shares of McCormick & Company, Incorporated by 0.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 21,563 shares of the company’s stock worth $1,443,000 after purchasing an additional 157 shares in the last quarter. Ransom Advisory Ltd lifted its stake in McCormick & Company, Incorporated by 3.6% during the fourth quarter. Ransom Advisory Ltd now owns 4,625 shares of the company’s stock valued at $315,000 after purchasing an additional 160 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in McCormick & Company, Incorporated by 67.8% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock worth $28,000 after buying an additional 164 shares in the last quarter. Glen Eagle Advisors LLC boosted its holdings in McCormick & Company, Incorporated by 42.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 570 shares of the company’s stock worth $39,000 after buying an additional 170 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in McCormick & Company, Incorporated by 10.5% in the fourth quarter. Van ECK Associates Corp now owns 1,795 shares of the company’s stock worth $122,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 79.74% of the company’s stock.

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.