McCormick & Company, Incorporated (NYSE:MKC) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 232,436 shares of the company's stock after selling 7,142 shares during the quarter. Janney Montgomery Scott LLC owned about 0.09% of McCormick & Company, Incorporated worth $19,132,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Hazlett Burt & Watson Inc. grew its holdings in shares of McCormick & Company, Incorporated by 2.8% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 5,040 shares of the company's stock valued at $382,000 after purchasing an additional 137 shares during the period. Sage Capital Advisors llc boosted its holdings in McCormick & Company, Incorporated by 2.8% in the 1st quarter. Sage Capital Advisors llc now owns 5,017 shares of the company's stock valued at $413,000 after purchasing an additional 137 shares during the last quarter. Empower Advisory Group LLC grew its stake in shares of McCormick & Company, Incorporated by 1.7% in the 4th quarter. Empower Advisory Group LLC now owns 8,402 shares of the company's stock valued at $641,000 after buying an additional 138 shares during the period. Bessemer Group Inc. grew its stake in shares of McCormick & Company, Incorporated by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 43,002 shares of the company's stock valued at $3,278,000 after buying an additional 139 shares during the period. Finally, ST Germain D J Co. Inc. increased its holdings in shares of McCormick & Company, Incorporated by 1.8% during the 1st quarter. ST Germain D J Co. Inc. now owns 7,810 shares of the company's stock worth $643,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 79.74% of the company's stock.

McCormick & Company, Incorporated Trading Up 0.3%

McCormick & Company, Incorporated stock traded up $0.19 during trading on Thursday, hitting $73.15. The company had a trading volume of 1,881,643 shares, compared to its average volume of 2,043,033. The company has a current ratio of 0.65, a quick ratio of 0.25 and a debt-to-equity ratio of 0.57. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 3.67 and a beta of 0.68. McCormick & Company, Incorporated has a 1-year low of $66.88 and a 1-year high of $86.24. The company's 50 day simple moving average is $74.44 and its 200-day simple moving average is $76.89.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.04). The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.61 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.67%. McCormick & Company, Incorporated's quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.45 dividend. 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 61.86%.

Wall Street Analysts Forecast Growth

MKC has been the topic of a number of recent analyst reports. Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. UBS Group initiated coverage on McCormick & Company, Incorporated in a research report on Monday. They issued a "neutral" rating and a $83.00 target price on the stock. Finally, Citigroup decreased their price target on McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $84.13.

Insider Activity

In other news, VP Gregory Repas sold 2,750 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.42, for a total transaction of $223,905.00. Following the completion of the sale, the vice president now owns 2,266 shares in the company, valued at approximately $184,497.72. The trade was a 54.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence Erik Kurzius sold 50,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $81.81, for a total transaction of $4,090,500.00. Following the completion of the transaction, the director now owns 247,437 shares of the company's stock, valued at $20,242,820.97. This represents a 16.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,392 shares of company stock worth $4,898,101. 23.80% of the stock is currently owned by corporate insiders.

McCormick & Company, Incorporated Profile

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.