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

McCormick & Company, Incorporated (NYSE:MKC) announced a quarterly dividend on Wednesday, April 8th. Shareholders of record on Monday, April 20th will be given a dividend of 0.48 per share on Monday, April 27th. This represents a c) dividend on an annualized basis 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 increased its dividend every year for the last 38 years. McCormick & Company, Incorporated has a dividend payout ratio of 57.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

NYSE:MKC opened at $50.57 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.76 and a quick ratio of 0.28. McCormick & Company, Incorporated has a 1 year low of $47.52 and a 1 year high of $78.16. The stock’s 50 day simple moving average is $61.48 and its two-hundred day simple moving average is $64.57. The company has a market cap of $13.58 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 2.40 and a beta of 0.71.

McCormick & Company, Incorporated (NYSE:MKC) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, equities analysts anticipate that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Activity at McCormick & Company, Incorporated

In related news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $67.43, for a total transaction of $3,371,500.00. Following the completion of the transaction, the insider owned 246,762 shares in the company, valued at $16,639,161.66. The trade was a 16.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacques Tapiero sold 5,000 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $67.09, for a total value of $335,450.00. Following the transaction, the director owned 31,596 shares of the company’s stock, valued at approximately $2,119,775.64. The trade was a 13.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 115,000 shares of company stock worth $7,947,300 in the last quarter. 10.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On McCormick & Company, Incorporated

Institutional investors and hedge funds have recently bought and sold shares of the company. Deseret Mutual Benefit Administrators raised its position in McCormick & Company, Incorporated by 67.8% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 406 shares of the company’s stock valued at $28,000 after purchasing an additional 164 shares in the last quarter. Motiv8 Investments LLC bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $28,000. Heartwood Wealth Advisors LLC bought a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at $28,000. GoalVest Advisory LLC bought a new stake in McCormick & Company, Incorporated during the 4th quarter valued at $28,000. Finally, Zions Bancorporation National Association UT raised its position in McCormick & Company, Incorporated by 340.0% during the 4th quarter. Zions Bancorporation National Association UT now owns 462 shares of the company’s stock valued at $31,000 after purchasing an additional 357 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

About McCormick & Company, Incorporated

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.