McCormick & Co., Inc. (MKC) Declares $0.39 Dividend
McCormick & Co., Inc. said on September 28, 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.
Shareholders of record as of October 10, 2023 will receive the payment on October 24, 2023.
At the current share price of $65.39 / share, the stock's dividend yield is 2.39%.
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=235).
The current dividend yield is 3.82 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.65. 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.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.26%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1590 funds or institutions reporting positions in McCormick & Co., Inc.. This is a decrease of 30 owner(s) or 1.85% in the last quarter. Average portfolio weight of all funds dedicated to MKC is 0.23%, a decrease of 11.80%. Total shares owned by institutions decreased in the last three months by 3.80% to 231,085K shares. 
The put/call ratio of MKC is 0.65, indicating a bullish outlook.
Analyst Price Forecast Suggests 23.36% Upside
As of October 5, 2023, the average one-year price target for McCormick & Co., Inc. is 80.66. The forecasts range from a low of 64.64 to a high of $101.85. The average price target represents an increase of 23.36% from its latest reported closing price of 65.39.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for McCormick & Co., Inc. is 6,632MM, an increase of 0.41%. The projected annual non-GAAP EPS is 2.98.
What are Other 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 15,467K shares representing 5.76% ownership of the company. In it's prior filing, the firm reported owning 15,499K shares, representing a decrease of 0.20%. The firm increased its portfolio allocation in MKC by 1.73% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,825K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 7,761K shares, representing an increase of 0.82%. The firm decreased its portfolio allocation in MKC by 2.48% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,972K shares representing 2.23% ownership of the company. In it's prior filing, the firm reported owning 5,851K shares, representing an increase of 2.04%. The firm decreased its portfolio allocation in MKC by 3.08% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 5,814K shares representing 2.17% ownership of the company. In it's prior filing, the firm reported owning 5,856K shares, representing a decrease of 0.72%. The firm decreased its portfolio allocation in MKC by 0.08% 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.
Additional reading:
- FOR IMMEDIATE RELEASE McCORMICK REPORTS STRONG THIRD QUARTER PERFORMANCE HUNT VALLEY, Md., October 3, 2023 - McCormick & Company, Incorporated (NYSE:MKC), a global leader in flavor, today reported financial results for the third quarter ended August
- FOR IMMEDIATE RELEASE McCORMICK REPORTS STRONG SECOND QUARTER PERFORMANCE AND RAISES 2023 PROFIT OUTLOOK HUNT VALLEY, Md., June 29, 2023 - McCormick & Company, Incorporated (NYSE:MKC), a global leader in flavor, today reported financial results for t
- FOR IMMEDIATE RELEASE Brendan Foley promoted to McCormick Chief Executive Officer; Lawrence Kurzius to continue as Executive Chairman of the Board HUNT VALLEY, Md., June 28, 2023 – The Board of Directors of McCormick & Company, Incorporated (NYSE: MK
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