Janney Montgomery Scott LLC Sells 7,142 Shares of McCormick & Company, Incorporated (NYSE:MKC)

Janney Montgomery Scott LLC decreased its position in McCormick & Company, Incorporated (NYSE:MKC) by 3.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 232,436 shares of the company’s stock after selling 7,142 shares during the period. Janney Montgomery Scott LLC’s holdings in McCormick & Company, Incorporated were worth $19,132,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Curio Wealth LLC bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $30,000. Salem Investment Counselors Inc. lifted its holdings in McCormick & Company, Incorporated by 610.9% during the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company’s stock worth $32,000 after acquiring an additional 336 shares in the last quarter. Twin Tree Management LP bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Ameriflex Group Inc. bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $33,000. Finally, Lee Danner & Bass Inc. bought a new position in McCormick & Company, Incorporated during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

McCormick & Company, Incorporated Trading Up 0.3%

MKC opened at $73.15 on Thursday. The stock has a market capitalization of $19.62 billion, a P/E ratio of 25.14, a P/E/G ratio of 3.67 and a beta of 0.68. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The firm’s fifty day simple moving average is $74.44 and its 200 day simple moving average is $76.89. The company has a current ratio of 0.65, a quick ratio of 0.25 and a debt-to-equity ratio of 0.57.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.67% and a return on equity of 14.63%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. As a group, research analysts anticipate that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date was Monday, April 7th. This represents a $1.80 annualized dividend and a yield of 2.46%. McCormick & Company, Incorporated’s dividend payout ratio (DPR) is presently 61.86%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MKC shares. Citigroup reduced their target price on McCormick & Company, Incorporated from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday. Argus lowered McCormick & Company, Incorporated from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Finally, UBS Group initiated coverage on shares of McCormick & Company, Incorporated in a research report on Monday. They issued a “neutral” rating and a $83.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McCormick & Company, Incorporated presently has an average rating of “Hold” and an average price target of $84.13.

Insiders Place Their Bets

In other McCormick & Company, Incorporated news, insider Katherine Jenkins sold 7,642 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Gregory Repas sold 2,750 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.42, for a total transaction of $223,905.00. Following the sale, the vice president now directly owns 2,266 shares in the company, valued at $184,497.72. This trade represents a 54.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,392 shares of company stock valued at $4,898,101 in the last three months. 23.80% of the stock is currently owned by corporate insiders.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.