Janney Montgomery Scott LLC Acquires 23,937 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Janney Montgomery Scott LLC increased its stake in McCormick & Company, Incorporated (NYSE:MKC) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 265,936 shares of the company’s stock after purchasing an additional 23,937 shares during the quarter. Janney Montgomery Scott LLC’s holdings in McCormick & Company, Incorporated were worth $20,427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in McCormick & Company, Incorporated by 6.1% in the 3rd quarter. AQR Capital Management LLC now owns 138,444 shares of the company’s stock worth $10,450,000 after acquiring an additional 7,952 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in shares of McCormick & Company, Incorporated by 3.6% in the third quarter. Royal London Asset Management Ltd. now owns 440,311 shares of the company’s stock worth $33,314,000 after purchasing an additional 15,420 shares in the last quarter. WealthPlan Investment Management LLC raised its position in shares of McCormick & Company, Incorporated by 1,032.7% during the 3rd quarter. WealthPlan Investment Management LLC now owns 3,466 shares of the company’s stock valued at $262,000 after purchasing an additional 3,160 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of McCormick & Company, Incorporated by 18.3% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 7,515 shares of the company’s stock valued at $568,000 after buying an additional 1,161 shares in the last quarter. Finally, Tudor Investment Corp Et Al boosted its holdings in McCormick & Company, Incorporated by 626.3% in the 3rd quarter. Tudor Investment Corp Et Al now owns 53,393 shares of the company’s stock worth $4,039,000 after buying an additional 46,042 shares during the period. 79.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on MKC. Argus raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, April 2nd. Stifel Nicolaus lifted their target price on McCormick & Company, Incorporated from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, March 27th. Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price target for the stock from $68.00 to $69.00 in a research note on Wednesday, June 12th. Barclays lifted their price objective on shares of McCormick & Company, Incorporated from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Thursday, March 28th. Finally, TD Cowen dropped their target price on shares of McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.25.

McCormick & Company, Incorporated Price Performance

McCormick & Company, Incorporated stock traded up $1.01 during mid-day trading on Friday, reaching $70.88. 1,551,909 shares of the company’s stock traded hands, compared to its average volume of 2,001,053. McCormick & Company, Incorporated has a 12-month low of $59.13 and a 12-month high of $90.45. The company has a quick ratio of 0.31, a current ratio of 0.69 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $71.67 and a two-hundred day moving average of $70.22. The company has a market cap of $19.02 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 3.61 and a beta of 0.75.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. McCormick & Company, Incorporated had a net margin of 11.07% and a return on equity of 14.63%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $0.60 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. Equities analysts forecast that McCormick & Company, Incorporated will post 2.85 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, July 8th. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is 61.31%.

Insider Transactions at McCormick & Company, Incorporated

In related news, Director Lawrence Erik Kurzius sold 80,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $73.75, for a total transaction of $5,900,000.00. Following the sale, the director now owns 199,258 shares in the company, valued at approximately $14,695,277.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 2,732 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $75.91, for a total transaction of $207,386.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence Erik Kurzius sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $73.75, for a total value of $5,900,000.00. Following the transaction, the director now directly owns 199,258 shares in the company, valued at approximately $14,695,277.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,458 shares of company stock worth $6,235,714. 22.90% of the stock is currently owned by company insiders.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.