Janney Montgomery Scott LLC Acquires Shares of 245,776 McCormick & Company, Incorporated (NYSE:MKC)

Janney Montgomery Scott LLC bought a new position in McCormick & Company, Incorporated (NYSE:MKC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 245,776 shares of the company’s stock, valued at approximately $20,227,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MKC. Norden Group LLC purchased a new stake in McCormick & Company, Incorporated in the 1st quarter worth $284,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of McCormick & Company, Incorporated by 93.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,280 shares of the company’s stock worth $6,912,000 after buying an additional 41,686 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in McCormick & Company, Incorporated during the first quarter valued at approximately $77,000. Nordea Investment Management AB grew its holdings in McCormick & Company, Incorporated by 4.7% during the 1st quarter. Nordea Investment Management AB now owns 17,617 shares of the company’s stock valued at $1,357,000 after buying an additional 786 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in McCormick & Company, Incorporated by 7.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 27,755 shares of the company’s stock worth $2,131,000 after acquiring an additional 1,842 shares during the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MKC shares. TD Cowen increased their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus increased their price objective on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Bank of America boosted their target price on shares of McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, BNP Paribas raised shares of McCormick & Company, Incorporated to a “strong-buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McCormick & Company, Incorporated currently has an average rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Price Performance

MKC stock opened at $78.83 on Wednesday. The stock has a market cap of $21.15 billion, a PE ratio of 26.81, a P/E/G ratio of 3.60 and a beta of 0.77. McCormick & Company, Incorporated has a 12 month low of $63.67 and a 12 month high of $85.49. The company has a 50-day moving average price of $81.08 and a 200 day moving average price of $76.19. The company has a current ratio of 0.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.61.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.15. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts anticipate that McCormick & Company, Incorporated will post 2.92 earnings per share for the current year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a $0.42 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.13%. McCormick & Company, Incorporated’s payout ratio is 57.14%.

Insider Transactions at McCormick & Company, Incorporated

In other news, Director Jacques Tapiero sold 5,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $78.33, for a total value of $391,650.00. Following the transaction, the director now directly owns 28,217 shares in the company, valued at approximately $2,210,237.61. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 22.90% of the company’s stock.

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.