Last $70.98 USD
Change Today -0.15 / -0.21%
Volume 873.6K
MKC On Other Exchanges
Symbol
Exchange
New York
New York
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

mccormick & co-non vtg shrs (MKC) Snapshot

Open
$70.92
Previous Close
$71.13
Day High
$71.23
Day Low
$70.58
52 Week High
05/22/13 - $75.26
52 Week Low
02/7/14 - $62.75
Market Cap
9.4B
Average Volume 10 Days
603.9K
EPS TTM
$3.21
Shares Outstanding
118.3M
EX-Date
04/3/14
P/E TM
22.1x
Dividend
$1.48
Dividend Yield
2.00%
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, 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
President of Global Industrial Business
Total Annual Compensation: $490.2K
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 Announces Retirement of Charles T. (Chuck) Langmead, President-Global Industrial Business, Effective July 1, 2014

McCormick & Company announced that Charles T. (Chuck) Langmead, President-Global Industrial Business, will retire effective July 1, 2014. Mr. Langmead served on the company's Management Committee, its higher leadership team, for the past seven years. He also pioneered company's diversity initiative as chairman of the company's first Diversity Council and is an Emeritus member of the Multiple Management Board, McCormick's acclaimed professional development system. Mr. Langmead's 38-year career included numerous roles of increasing responsibility in sales, finance and marketing. Most of his years were spent in the Food Service business where he became General Manager in 1999.

McCormick & Company, Incorporated Declares Quarterly Dividend, Payable on April 21, 2014

The Board of Directors of McCormick & Company, Incorporated declared a quarterly dividend of $0.37 per share on its common stocks payable April 21, 2014, to shareholders of record on April 7, 2014.

McCormick & Company, Incorporated Reports Unaudited Consolidated Earnings Results for the First Quarter Ended February 28, 2014; Reaffirms Earnings Guidance for the Second Quarter and Full Year of 2014

McCormick & Company, Incorporated reported unaudited consolidated earnings results for the first quarter ended February 28, 2014. For the quarter, the company reported net sales of USD 993.4 million compared to USD 934.4 million a year ago. Operating income was USD 124.6 million compared to USD 112.0 million a year ago. Income from consolidated operations before income taxes was USD 112.4 million compared to USD 98.7 million a year ago. Net income from consolidated operations was USD 77.4 million compared to USD 70.6 million a year ago. Net income was USD 82.5 million compared to USD 76.0 million a year ago. Diluted earnings per share were USD 0.62 compared to USD 0.57 a year ago. Net cash provided by operating activities was USD 76.7 million compared to USD 31.6 million a year ago. Capital expenditures were USD 18.5 million compared to USD 12.4 million a year ago. The company reaffirmed its financial outlook for 2014. The company anticipates growing sales 3% to 5% in local currency, which includes an incremental impact of the WAPC acquisition in the first half of the year. In addition, the company expects unfavorable foreign currency exchange rates to reduce sales by 1% in 2014, based on prevailing rates. The company reaffirmed projected 2014 earnings per share of USD 3.22 to USD 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 USD 0.01 per share of special charges. For the fiscal year, company continue to expect the tax rate to exceed 2013 and for 2014 to be in a 30% to 31% range. The company continues to project a 6% to 8% increase in operating income from USD 591 million of adjusted operating income in 2013. This projection includes the benefit of CCI cost savings that are expected to reach at least USD 45 million for 2014. In the second quarter of 2014, the company expects earnings per share to increase only slightly from the year-ago period as a result of several factors, including higher brand marketing support and weakness in demand from quick service restaurants in the U.S. Another year of strong cash flow is anticipated in 2014. The company is projecting only a slight increase in earnings per share from USD 0.59 that reported in the second quarter of 2013. This outlook is based on plans for higher brand marketing support and continued weakness in demand from quick service restaurants in the U.S., as well as additional costs related to the facility relocation in Mexican joint venture.

 

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Industry Analysis

MKC

Industry Average

Valuation MKC Industry Range
Price/Earnings 23.9x
Price/Sales 2.2x
Price/Book 4.7x
Price/Cash Flow 21.2x
TEV/Sales 1.7x
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