AQR Capital Management LLC Trims Stock Holdings in McCormick & Company, Incorporated (NYSE:MKC)

AQR Capital Management LLC cut its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 16.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,100 shares of the company's stock after selling 49,737 shares during the period. AQR Capital Management LLC owned 0.09% of McCormick & Company, Incorporated worth $19,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lido Advisors LLC grew its position in shares of McCormick & Company, Incorporated by 3.6% during the fourth quarter. Lido Advisors LLC now owns 17,707 shares of the company's stock valued at $1,358,000 after purchasing an additional 622 shares in the last quarter. Northern Trust Corp increased its stake in McCormick & Company, Incorporated by 16.8% in the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after acquiring an additional 531,060 shares during the last quarter. Bellwether Advisors LLC raised its holdings in shares of McCormick & Company, Incorporated by 17.6% during the 4th quarter. Bellwether Advisors LLC now owns 22,247 shares of the company's stock worth $1,696,000 after acquiring an additional 3,328 shares in the last quarter. Parkshore Wealth Management Inc. bought a new position in shares of McCormick & Company, Incorporated during the 4th quarter valued at approximately $335,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of McCormick & Company, Incorporated in the fourth quarter valued at $2,394,000. 79.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays lowered their price objective on shares of McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an "underweight" rating in a research note on Friday, January 24th. Finally, Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McCormick & Company, Incorporated presently has a consensus rating of "Hold" and a consensus target price of $83.14.

McCormick & Company, Incorporated Stock Down 0.2 %

NYSE:MKC traded down $0.12 during mid-day trading on Friday, reaching $76.10. The company's stock had a trading volume of 1,490,324 shares, compared to its average volume of 1,974,140. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. McCormick & Company, Incorporated has a 1 year low of $66.88 and a 1 year high of $86.24. The stock has a fifty day moving average of $78.03 and a 200-day moving average of $77.59. The firm has a market capitalization of $20.41 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 3.76 and a beta of 0.74.

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 for the quarter, compared to the consensus estimate of $1.61 billion. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. McCormick & Company, Incorporated's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders 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 dividend on an annualized basis and a yield of 2.37%. McCormick & Company, Incorporated's dividend payout ratio is presently 61.86%.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Lawrence Erik Kurzius sold 50,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $81.81, for a total value of $4,090,500.00. Following the completion of the sale, the director now directly owns 247,437 shares in the company, valued at approximately $20,242,820.97. This trade represents a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Margaret M. V. Preston sold 28,092 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total value of $2,163,926.76. Following the completion of the sale, the director now directly owns 6,177 shares of the company's stock, valued at approximately $475,814.31. This represents a 81.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,842 shares of company stock valued at $6,478,332. 23.80% of the stock is currently owned by 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.