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

AQR Capital Management LLC lowered its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 16.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 252,100 shares of the company's stock after selling 49,737 shares during the quarter. AQR Capital Management LLC owned approximately 0.09% of McCormick & Company, Incorporated worth $19,192,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Lido Advisors LLC increased its stake in shares of McCormick & Company, Incorporated by 3.6% in the 4th quarter. Lido Advisors LLC now owns 17,707 shares of the company's stock worth $1,358,000 after purchasing an additional 622 shares in the last quarter. Northern Trust Corp grew its position in shares of McCormick & Company, Incorporated by 16.8% during the 4th quarter. Northern Trust Corp now owns 3,693,239 shares of the company's stock worth $281,573,000 after buying an additional 531,060 shares in the last quarter. Bellwether Advisors LLC raised its holdings in McCormick & Company, Incorporated by 17.6% in the fourth quarter. Bellwether Advisors LLC now owns 22,247 shares of the company's stock worth $1,696,000 after purchasing an additional 3,328 shares in the last quarter. Parkshore Wealth Management Inc. purchased a new stake in McCormick & Company, Incorporated in the fourth quarter valued at about $335,000. Finally, Tudor Investment Corp ET AL acquired a new stake in McCormick & Company, Incorporated during the 4th quarter worth about $2,394,000. Institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on MKC shares. Argus lowered McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays decreased their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. TD Cowen upgraded shares of McCormick & Company, Incorporated from a "hold" rating to a "buy" rating and raised their target price for the stock from $86.00 to $90.00 in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their target price on McCormick & Company, Incorporated from $66.00 to $69.00 and gave the company an "underweight" rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $83.14.

McCormick & Company, Incorporated Stock Performance

Shares of MKC stock traded up $0.24 on Wednesday, reaching $74.97. The stock had a trading volume of 1,606,385 shares, compared to its average volume of 1,963,828. The company has a quick ratio of 0.31, a current ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm's 50-day moving average is $78.32 and its two-hundred day moving average is $77.63. McCormick & Company, Incorporated has a 12 month low of $66.88 and a 12 month high of $86.24. The firm has a market capitalization of $20.11 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 3.76 and a beta of 0.74.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.60 EPS 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 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%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. McCormick & Company, Incorporated's dividend payout ratio (DPR) is presently 61.86%.

Insider Transactions at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, VP Gregory Repas sold 2,750 shares of the stock in a transaction 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 transaction, the vice president now directly owns 2,266 shares of the company's stock, valued at $184,497.72. This trade represents a 54.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lawrence Erik Kurzius sold 50,000 shares of McCormick & Company, Incorporated stock in a transaction that occurred on 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 transaction, the director now owns 247,437 shares in the company, valued at approximately $20,242,820.97. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,842 shares of company stock worth $6,478,332 in the last quarter. Company insiders own 23.80% of the company's stock.

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.