Janney Montgomery Scott LLC Makes New $20.23 Million Investment in McCormick & Company, Incorporated (NYSE:MKC)

Janney Montgomery Scott LLC purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 245,776 shares of the company’s stock, valued at approximately $20,227,000. Janney Montgomery Scott LLC owned approximately 0.09% of McCormick & Company, Incorporated at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Optas LLC purchased a new stake in McCormick & Company, Incorporated during the 3rd quarter valued at about $211,000. Chicago Partners Investment Group LLC purchased a new stake in shares of McCormick & Company, Incorporated during the third quarter valued at approximately $227,000. Lowe Brockenbrough & Co. Inc. increased its position in shares of McCormick & Company, Incorporated by 3.4% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 7,814 shares of the company’s stock valued at $643,000 after acquiring an additional 255 shares in the last quarter. Cigna Investments Inc. New purchased a new position in McCormick & Company, Incorporated in the 3rd quarter worth approximately $210,000. Finally, HM Payson & Co. lifted its position in McCormick & Company, Incorporated by 6.9% in the 3rd quarter. HM Payson & Co. now owns 3,873 shares of the company’s stock valued at $319,000 after acquiring an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jacques Tapiero sold 5,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $78.33, for a total transaction of $391,650.00. Following the sale, the director now directly owns 28,217 shares in the company, valued at $2,210,237.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.90% of the company’s stock.

Analyst Upgrades and Downgrades

MKC has been the subject of several recent analyst reports. Bank of America boosted their price target on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their target price on shares of McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded shares of McCormick & Company, Incorporated to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen increased their price objective on shares of McCormick & Company, Incorporated from $84.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, McCormick & Company, Incorporated has a consensus rating of “Hold” and a consensus price target of $79.57.

McCormick & Company, Incorporated Stock Up 0.8 %

MKC opened at $78.83 on Wednesday. The firm’s 50 day simple moving average is $81.08 and its two-hundred day simple moving average is $76.19. The company has a market capitalization of $21.15 billion, a PE ratio of 26.81, a PEG ratio of 3.60 and a beta of 0.77. McCormick & Company, Incorporated has a 1-year low of $63.67 and a 1-year high of $85.49. 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 released its earnings results on Tuesday, October 1st. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.15. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 15.30% and a net margin of 11.87%. McCormick & Company, Incorporated’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 2.92 EPS for the current year.

McCormick & Company, Incorporated Dividend Announcement

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

McCormick & Company, Incorporated 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.