Last $69.22 USD
Change Today -0.15 / -0.22%
Volume 255.0K
MKC On Other Exchanges
Symbol
Exchange
Munich
New York
New York
As of 8:04 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

mccormick & co-non vtg shrs (MKC) Snapshot

Open
$69.18
Previous Close
$69.37
Day High
$69.49
Day Low
$69.03
52 Week High
08/6/13 - $73.79
52 Week Low
02/7/14 - $62.75
Market Cap
9.0B
Average Volume 10 Days
568.4K
EPS TTM
$3.15
Shares Outstanding
117.6M
EX-Date
07/2/14
P/E TM
22.0x
Dividend
$1.48
Dividend Yield
2.09%
Current Stock Chart for MCCORMICK & CO-NON VTG SHRS (MKC)

mccormick & co-non vtg shrs (MKC) Related Businessweek News

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mccormick & co-non vtg shrs (MKC) Details

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates in two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, seasonings, and dessert items directly, as well as through distributors or wholesalers to various retail outlets, including grocery stores, mass merchandise stores, warehouse clubs, and discount and drug stores, as well as supplies private label items. This segment markets its products under the McCormick, Lawry’s, Club House, Zatarain’s, Thai Kitchen, Simply Asia, Ducros, Schwartz, Kamis, Vahiné, DaQiao, and Kohinoor brand names. The Industrial segment provides seasoning blends, spices and herbs, condiments, coating systems, and compound flavors directly, as well as through distributors to food manufacturers and foodservice customers. McCormick & Company, Incorporated was founded in 1889 and is headquartered in Sparks, Maryland.

10,000 Employees
Last Reported Date: 01/29/14
Founded in 1889

mccormick & co-non vtg shrs (MKC) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.0M
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $493.5K
Chief Administrative Officer and President of...
Total Annual Compensation: $518.6K
Vice President, General Counsel, Secretary an...
Total Annual Compensation: $441.8K
Compensation as of Fiscal Year 2013.

mccormick & co-non vtg shrs (MKC) Key Developments

McCormick & Company, Incorporated Reports Earnings Results for the Second Quarter and Six Months Ended May 31, 2014; Provides Earnings Guidance for the Full Year 2014

McCormick & Company, Incorporated reported earnings results for the second quarter and six months ended May 31, 2014. For the quarter, the company's net income was $84.5 million, or $0.64 per diluted share, compared to $78.6 million, or $0.59 per diluted share, for the same quarter ended May 31, 2013. Net sales for the second quarter ended May 31, 2014 were $1.03 billion, compared to $1 billion for the same quarter ended May 31, 2013. For the six months, the company's net income was $167 million, or $1.27 per diluted share, compared to $154.6 million, or $1.16 per diluted share, for the same period ended May 31, 2013. Net sales for the six months ended May 31, 2014 were $2.03 billion, compared to $1.94 billion for the same period ended May 31, 2013. The company expects earnings per share to be in the range of $3.22 to $3.29 for 2014.

McCormick & Company, Incorporated Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended May 31, 2014; Reaffirms Earnings Guidance for the Year 2014

McCormick & Company, Incorporated announced unaudited consolidated earnings results for the second quarter and six months ended May 31, 2014. The company's second quarter net sales were $1,033.4 million compared to $1,002.6 million a year ago. Operating income was $121.7 million against $116.0 million a year ago. Income from consolidated operations before income taxes was $109.5 million against $103.3 million a year ago. Net income from consolidated operations was $78.3 million against $72.7 million a year ago. Net income was $84.5 million or $0.64 per diluted share against $78.6 million or $0.59 per diluted share a year ago. For the half year, the company reported net sales of $2,026.8 million against $1,936.9 million a year ago. Operating income was $246.3 million against $228.0 million a year ago. Income from consolidated operations before income taxes was $221.9 million against $202.0 million a year ago. Net income from consolidated operations was $155.7 million against $143.2 million a year ago. Net income was $167.0 million or $1.27 per diluted share against $154.6 million or $1.16 per diluted share a year ago. Net cash flow provided by operating activities was $182.1 million compared to $132.7 million a year ago. Capital expenditures were $47.4 million against $34.6 million a year ago. The company reaffirmed its financial outlook for 2014. The company anticipates 3% to 5% sales growth in local currency, which includes the incremental impact of the WAPC acquisition in the first half of the year. The company reaffirmed projected 2014 earnings per share of $3.22 to $3.29. In this projection, higher sales, a favorable mix of business and CCI cost savings are expected to more than offset a significantly higher tax rate and an estimated $0.01 per share of special charges. The company has greater confidence in the upper end of its earnings per share range as it has lowered its expected tax rate for the fiscal year to approximately 29.5% from a range of 30% to 31%, based on the expected business mix. The company reaffirmed outlook for growth of 6% to 8% in operating income when compared to $591 million of adjusted operating income in 2013. This projection includes the benefit of CCI cost savings that are expected to reach at least $45 million for 2014 and an increase in brand marketing support of at least $25 million.

McCormick & Company Announces Quarterly Dividend, Payable on July 21, 2014

McCormick & Company announced that it board of directors has declared a quarterly dividend of $0.37 per share on its common stocks payable July 21, 2014, to shareholders of record on July 7, 2014. This is maintained from the previous quarter's dividend paid to shareholders on April 21, 2014.

 

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Industry Analysis

MKC

Industry Average

Valuation MKC Industry Range
Price/Earnings 22.9x
Price/Sales 2.1x
Price/Book 4.6x
Price/Cash Flow 20.3x
TEV/Sales 1.6x
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