McCormick & said on March 29, 2023 that its board of directors declared a regular
quarterly dividend of $0.39 per share ($1.56 annualized).
Previously, the company paid $0.39 per share.
Shares must be purchased before the ex-div date of April 6, 2023 to qualify for the dividend.
Shareholders of record as of April 10, 2023
will receive the payment on April 24, 2023.
At the current share price of $81.01 / share,
the stock’s dividend yield is 1.93%.
Looking back five years and taking a sample every week, the average dividend yield has been
1.60%,
the lowest has been 1.20%,
and the highest has been 2.18%.
The standard deviation of yields is 0.21 (n=236).
The current dividend yield is
1.55 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.63.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.26%,
demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 3.87% Downside
As of March 30, 2023,
the average one-year price target for McCormick & is $77.88.
The forecasts range from a low of $63.63 to a high of $94.50.
The average price target represents a decrease of 3.87% from its latest reported closing price of $81.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for McCormick &
is $6,632MM, an increase of 3.73%.
The projected annual non-GAAP EPS
is $2.98.
What is the Fund Sentiment?
There are 1602 funds or institutions reporting positions in McCormick &.
This is an increase
of
19
owner(s) or 1.20% in the last quarter.
Average portfolio weight of all funds dedicated to MKC is 0.27%,
a decrease
of 1.87%.
Total shares owned by institutions decreased
in the last three months by 0.07% to 240,610K shares.
The put/call ratio of MKC is 1.02, indicating a
bearish
outlook.
What are Large Shareholders Doing?
State Farm Mutual Automobile Insurance
holds 16,716K shares
representing 6.23% ownership of the company.
No change in the last quarter.
Fundsmith LLP
holds 15,495K shares
representing 5.78% ownership of the company.
In it’s prior filing, the firm reported owning 15,507K shares, representing
a decrease
of 0.07%.
The firm
increased
its portfolio allocation in MKC by 11.82% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 7,616K shares
representing 2.84% ownership of the company.
In it’s prior filing, the firm reported owning 7,465K shares, representing
an increase
of 1.98%.
The firm
increased
its portfolio allocation in MKC by 9.57% over the last quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares
holds 5,836K shares
representing 2.18% ownership of the company.
In it’s prior filing, the firm reported owning 5,771K shares, representing
an increase
of 1.11%.
The firm
increased
its portfolio allocation in MKC by 8.02% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares
holds 5,793K shares
representing 2.16% ownership of the company.
In it’s prior filing, the firm reported owning 5,678K shares, representing
an increase
of 1.99%.
The firm
increased
its portfolio allocation in MKC by 9.32% over the last quarter.
McCormick & Background Information
(This description is provided by the company.)
McCormick & Company, Incorporated is a global leader in flavor. With over $5 billion in annual sales across 160 countries and territories, the company manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry including e-commerce channels, grocery, food manufacturers and foodservice businesses. Its most popular brands include McCormick, French’s, Frank’s RedHot, Stubb’s, OLD BAY, Lawry’s, Zatarain’s, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club House, Aeroplane and Gourmet Garden. Every day, no matter where or what you eat or drink, you can enjoy food flavored by McCormick.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
