This Magnificent Dividend Stock Is Trading Close to a Once-in-a-Decade Valuation. Is It a Buy?
With artificial intelligence, gene-editing biotechnology, humanoid robots, and more, there are plenty of mind-blowing things to invest in these days. But boring businesses can make money for investors as well. And one of the most boring, surefire businesses out there is seasoning and spices giant McCormick Company (NYSE: MKC).
McCormick reported financial results for its fiscal first quarter of 2024 on March 26, and the market responded enthusiastically. Therefore, the stock isn't quite as good a deal as it was just days ago. However, shares still trade near a once-in-a-decade valuation by one important metric.
It is one of the best dividend stocks in the world (more on that in a moment). And as of this writing, its dividend yield is about 2%. This means that for every $1,000 investment, shareholders can expect $20 in annual income. As the chart below shows, the dividend yield has been above 2% for a few months now, which is the first time it's been this high in almost a decade.
Source Fool.com
Mccormick & Comp. Stock
Our community is currently high on Mccormick & Comp. with 5 Buy predictions and 3 Sell predictions.
On the other hand, the target price of 67 € is below the current price of 70.2 € for Mccormick & Comp., so the potential is actually -4.56%.
