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

Janney Montgomery Scott LLC purchased a new stake in shares of McCormick & Company, Incorporated (NYSE:MKC - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 245,776 shares of the company's stock, valued at approximately $20,227,000. Janney Montgomery Scott LLC owned about 0.09% of McCormick & Company, Incorporated as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC boosted its stake in McCormick & Company, Incorporated by 87.5% in the second quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company's stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. OFI Invest Asset Management acquired a new position in McCormick & Company, Incorporated during the 2nd quarter valued at approximately $29,000. 1620 Investment Advisors Inc. acquired a new position in shares of McCormick & Company, Incorporated in the 2nd quarter valued at $35,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of McCormick & Company, Incorporated in the second quarter worth about $39,000. Finally, Friedenthal Financial acquired a new position in McCormick & Company, Incorporated in the 3rd quarter worth approximately $49,000. 79.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America lifted their price objective on McCormick & Company, Incorporated from $95.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. BNP Paribas upgraded McCormick & Company, Incorporated to a "strong-buy" rating in a research report on Wednesday, October 2nd. Stifel Nicolaus raised their price objective on McCormick & Company, Incorporated from $75.00 to $85.00 and gave the company a "hold" rating in a report on Wednesday, October 2nd. Finally, TD Cowen upped their target price on McCormick & Company, Incorporated from $84.00 to $86.00 and gave the stock a "hold" rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus price target of $79.57.

McCormick & Company, Incorporated Price Performance

NYSE MKC traded down $2.17 during mid-day trading on Wednesday, hitting $76.66. The stock had a trading volume of 1,981,511 shares, compared to its average volume of 1,522,156. The firm's 50 day moving average is $81.02 and its 200 day moving average is $76.19. The stock has a market capitalization of $20.57 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.57 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.32. McCormick & Company, Incorporated has a twelve month low of $63.67 and a twelve month high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.15. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. McCormick & Company, Incorporated had a net margin of 11.87% and a return on equity of 15.30%. McCormick & Company, Incorporated's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. Equities research analysts forecast that McCormick & Company, Incorporated will post 2.92 earnings per share for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, October 7th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Monday, October 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 57.14%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other news, Director Michael D. Mangan sold 5,000 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $78.50, for a total transaction of $392,500.00. Following the transaction, the director now owns 40,436 shares of the company's stock, valued at approximately $3,174,226. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.90% of the stock is 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.