QRG Capital Management Inc. Has $1.62 Million Holdings in McCormick & Company, Incorporated (NYSE:MKC)

QRG Capital Management Inc. increased its stake in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 37.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,718 shares of the company's stock after purchasing an additional 5,398 shares during the period. QRG Capital Management Inc.'s holdings in McCormick & Company, Incorporated were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. lifted its holdings in shares of McCormick & Company, Incorporated by 610.9% in the first quarter. Salem Investment Counselors Inc. now owns 391 shares of the company's stock valued at $32,000 after purchasing an additional 336 shares in the last quarter. Curio Wealth LLC acquired a new stake in McCormick & Company, Incorporated in the 4th quarter valued at approximately $30,000. Ameriflex Group Inc. bought a new stake in McCormick & Company, Incorporated in the 4th quarter valued at approximately $33,000. Twin Tree Management LP acquired a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $33,000. Finally, Lee Danner & Bass Inc. acquired a new position in McCormick & Company, Incorporated during the 4th quarter worth approximately $37,000. 79.74% of the stock is owned by institutional investors and hedge funds.

McCormick & Company, Incorporated Stock Performance

NYSE:MKC traded down $0.23 during mid-day trading on Friday, hitting $72.98. The stock had a trading volume of 2,803,694 shares, compared to its average volume of 2,046,063. McCormick & Company, Incorporated has a twelve month low of $66.88 and a twelve month high of $86.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.25 and a current ratio of 0.65. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 3.68 and a beta of 0.68. The company's 50 day simple moving average is $74.40 and its 200 day simple moving average is $76.86.

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

McCormick & Company, Incorporated Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Monday, April 7th. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup cut their price objective on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating on the stock in a research report on Tuesday. UBS Group began coverage on shares of McCormick & Company, Incorporated in a research report on Monday. They set a "neutral" rating and a $83.00 price target on the stock. Finally, Argus cut McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McCormick & Company, Incorporated presently has an average rating of "Hold" and a consensus price target of $84.13.

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.