How To Earn $500 A Month From McCormick Following Weaker-Than-Expected Sales
Portfolio Pulse from Priya Nigam
McCormick & Company reported weaker-than-expected sales for Q3 FY23, with a 6% YoY growth to $1.684 billion, missing the analyst consensus estimate of $1.70 billion. The company reaffirmed its FY23 revenue growth guidance of 5%-7% and raised its FY23 adjusted EPS outlook to $2.62-$2.67. McCormick offers an annual dividend yield of 2.28%, which is a quarterly dividend amount of 39 cents per share. To earn $500 per month from dividends, an investment of approximately $263,066 or around 3,846 shares is needed.
October 04, 2023 | 12:43 pm
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McCormick's weaker-than-expected Q3 sales and the subsequent fall in share price may negatively impact investor sentiment in the short term. However, the company's reaffirmed FY23 revenue growth guidance and increased EPS outlook could provide some reassurance.
The weaker-than-expected Q3 sales and the subsequent fall in share price are likely to negatively impact investor sentiment in the short term. However, the company's reaffirmed FY23 revenue growth guidance and increased EPS outlook could provide some reassurance to investors, potentially mitigating some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100