MCCORMICK & CO /SH NV (NYSE:MKC) declared a quarterly dividend on Tuesday, June 23rd, RTT News reports. Stockholders of record on Monday, July 6th will be paid a dividend of 0.62 per share on Monday, July 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, July 2nd.
MCCORMICK & CO /SH has raised its dividend payment by an average of 565.7% per year over the last three years and has increased its dividend every year for the last 33 years. MCCORMICK & CO /SH has a payout ratio of 47.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect MCCORMICK & CO /SH to earn $5.60 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 44.3%.
Shares of MCCORMICK & CO /SH stock opened at $179.41 on Wednesday. The company has a market capitalization of $23.84 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 5.46 and a beta of 0.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.74 and a quick ratio of 0.33. The business has a 50-day moving average of $172.76 and a two-hundred day moving average of $161.13. MCCORMICK & CO /SH has a 1 year low of $112.22 and a 1 year high of $182.92.
Several brokerages have commented on MKC. UBS Group raised shares of MCCORMICK & CO /SH to a “buy” rating and set a $160.00 price target on the stock in a research report on Friday, May 15th. Stifel Nicolaus cut their price objective on MCCORMICK & CO /SH from $155.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. JPMorgan Chase & Co. lowered their target price on shares of MCCORMICK & CO /SH from $137.00 to $134.00 and set an “underweight” rating on the stock in a report on Friday, April 17th. Jefferies Financial Group upgraded shares of MCCORMICK & CO /SH from an “underperform” rating to a “hold” rating and set a $167.00 price target for the company in a research note on Monday, June 22nd. Finally, Cfra lowered their price objective on shares of MCCORMICK & CO /SH from $155.00 to $140.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $154.90.
About MCCORMICK & CO /SH
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. The company operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as desserts.
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