Koch Industries Inc. Takes $306,000 Position in McCormick & Company, Incorporated (MKC)

Koch Industries Inc. acquired a new stake in McCormick & Company, Incorporated (NYSE:MKC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 309,420 shares of the company’s stock, valued at approximately $306,000. Koch Industries Inc. owned approximately 0.27% of McCormick & Company, as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MKC. BlackRock Inc. lifted its position in shares of McCormick & Company, by 956.5% in the first quarter. BlackRock Inc. now owns 10,405,413 shares of the company’s stock valued at $1,015,049,000 after acquiring an additional 9,420,526 shares in the last quarter. Harbour Capital Advisors LLC lifted its position in shares of McCormick & Company, by 22,166.5% in the second quarter. Harbour Capital Advisors LLC now owns 722,549 shares of the company’s stock valued at $7,410,000 after acquiring an additional 719,304 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of McCormick & Company, by 3.6% in the first quarter. Vanguard Group Inc. now owns 11,962,754 shares of the company’s stock valued at $1,166,965,000 after acquiring an additional 420,241 shares in the last quarter. State Street Corp lifted its position in shares of McCormick & Company, by 5.4% in the first quarter. State Street Corp now owns 7,256,472 shares of the company’s stock valued at $707,872,000 after acquiring an additional 368,990 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in shares of McCormick & Company, in the first quarter worth about $28,798,000. Institutional investors and hedge funds own 70.01% of the company’s stock.

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McCormick & Company, Incorporated (NYSE:MKC) traded up 0.32% during mid-day trading on Friday, reaching $99.36. The company’s stock had a trading volume of 669,170 shares. The company’s 50-day moving average price is $98.47 and its 200 day moving average price is $98.78. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 27.58 and a beta of 0.53. McCormick & Company, Incorporated has a 52 week low of $88.64 and a 52 week high of $106.50.

McCormick & Company, (NYSE:MKC) last announced its quarterly earnings data on Thursday, September 28th. The company reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.07. McCormick & Company, had a net margin of 10.05% and a return on equity of 26.09%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business earned $1.03 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that McCormick & Company, Incorporated will post $4.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 10th were given a $0.47 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.89%. McCormick & Company,’s payout ratio is currently 51.93%.

A number of equities research analysts recently commented on MKC shares. Credit Suisse Group reiterated a “buy” rating and issued a $115.00 target price (up from $112.00) on shares of McCormick & Company, in a research report on Friday, September 29th. Edward Jones upgraded McCormick & Company, from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Jefferies Group LLC raised McCormick & Company, from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $110.00 in a research note on Friday, July 28th. Zacks Investment Research raised McCormick & Company, from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research note on Tuesday, August 29th. Finally, BidaskClub raised McCormick & Company, from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $105.50.

In other news, VP Michael R. Smith sold 5,500 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $102.60, for a total value of $564,300.00. Following the transaction, the vice president now directly owns 19,248 shares in the company, valued at approximately $1,974,844.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Freeman A. Hrabowski III sold 3,000 shares of McCormick & Company, stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $98.68, for a total transaction of $296,040.00. The disclosure for this sale can be found here. Company insiders own 15.30% of the company’s stock.

McCormick & Company, Company Profile

McCormick & Company, Incorporated is engaged in manufacturing, marketing and distributing spices, seasoning mixes, condiments and other flavorful products to the food industry, including retailers, food manufacturers and foodservice businesses. The Company’s segments include consumer and industrial. The Company is involved in the manufacturing and sales of flavorful products.

Institutional Ownership by Quarter for McCormick & Company, (NYSE:MKC)

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