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Last $79.39 USD
Change Today -0.57 / -0.71%
Volume 987.0K
MKC On Other Exchanges
Symbol
Exchange
New York
New York
As of 8:04 PM 07/6/15 All times are local (Market data is delayed by at least 15 minutes).

mccormick & co-non vtg shrs (MKC) Snapshot

Open
$79.72
Previous Close
$79.96
Day High
$80.11
Day Low
$78.99
52 Week High
06/25/15 - $82.39
52 Week Low
08/1/14 - $64.92
Market Cap
10.1B
Average Volume 10 Days
1.0M
EPS TTM
$3.71
Shares Outstanding
116.0M
EX-Date
07/9/15
P/E TM
21.4x
Dividend
$1.60
Dividend Yield
1.94%
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 the food industry worldwide. It operates through two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, seasonings, and dessert items under the McCormick, Lawry’s, Club House, Zatarain’s, Thai Kitchen, Simply Asia, Ducros, Schwartz, Kamis, Vahiné, DaQiao, Aeroplane, and Kohinoor brand names, as well as supplies private label items. This segment markets its products directly and indirectly through distributors or wholesalers to various retail outlets that include grocery stores, mass merchandise stores, warehouse clubs, and discount and drug stores. The Industrial segment provides seasoning blends, spices and herbs, condiments, coating systems, and compound flavors. This segment offers its products directly and indirectly through distributors to food manufacturers and foodservice customers. The company was founded in 1889 and is based in Sparks, Maryland.

10,000 Employees
Last Reported Date: 01/29/15
Founded in 1889

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

Chairman and Chief Executive Officer
Total Annual Compensation: $1.0M
President and Chief Operating Officer
Total Annual Compensation: $556.9K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $533.7K
President of Europe, Middle East, Africa & As...
Total Annual Compensation: $456.4K
Compensation as of Fiscal Year 2014.

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

McCormick & Company, Incorporated Reports Earnings Results for the Second Quarter and Six Months Ended May 31, 2015; Provides Earnings Guidance for the Third Quarter and Full Year 2015

McCormick & Company, Incorporated reported earnings results for the second quarter and six months ended May 31, 2015. For the quarter, the company's net sales were $1,024.1 million compared to $1,033.4 million for the same quarter ended May 31, 2014. Operating income was $103.8 million compared with $121.7 million a year ago. Income from consolidated operations before income taxes was $91.4 million compared with $221.9 million a year ago. Net income was $84.3 million or $0.65 per diluted share compared to $84.5 million or $0.64 per diluted share for the same quarter ended May 31, 2014. For the six months, the company's net sales were $2,034.5 million compared to $2,026.8 million for the same quarter ended May 31, 2014. Operating income was $197.5 million compared with $246.3 million a year ago. Income from consolidated operations before income taxes was $172.0 million compared with $221.9 million a year ago. Net income was $154.8 million or $1.20 per diluted share compared to $167.0 million or $1.27 per diluted share for the same quarter ended May 31, 2014. Net cash flow provided by operating activities was $185.9 million compared with $182.1 million a year ago. Capital expenditures was $42.7 million compared with $47.4 million a year ago. The company raised its outlook for earnings per share by $0.03, due to a reduction in the projected 2015 effective tax rate.  As a result, the company expects to report earnings per share of $3.18 to $3.25. Excluding the estimated impact of $0.29 from special charges, guidance for adjusted earnings per share is now $3.47 to $3.54.  On a constant currency basis, this is a growth rate of 7% to 9% from 2014 adjusted earnings per share of $3.37.  In the third quarter of 2015, the company expects adjusted earnings per share to decline from the year-ago period as the result of the projected tax rate (estimated at 29% in the third quarter of 2015 compared to 21% in the third quarter of 2014), unfavorable currency rates and higher investment in brand marketing.  Another year of strong cash flow is anticipated in 2015, with a portion returned to McCormick's shareholders through dividends and share repurchases.

McCormick Declares Quarterly Dividend Payable on July 27, 2015

McCormick declared a quarterly dividend of $0.40 per share on its common stocks, unchanged from the dividend paid in the previous quarter. This dividend is payable on July 27, 2015 to shareholders of record on July 13, 2015.

Watkins Incorporated Adds Additional Facts to Lawsuit Filed Against McCormick & Co., Inc

Watkins Incorporated announced that it will add additional facts to its recently filed June 9, 2015, lawsuit against McCormick & Co. Inc. which contends that McCormick illegally violates the federal 'slack fill' prohibitions in reducing the contents in its ground black pepper tins by 25%. It has now been discovered that McCormick has also engaged in 'slack fill' by reducing its selling 1.24 oz. 'Black Peppercorn Grinders' by approximately 20% to 1.0 oz., and is continuing to use the same containers as well as charge the same price for the reduced 1 oz. peppercorn contents as it charged for 1.24 oz. size. McCormick is once again attempting to deceive and confuse retailers and their customers as it has with its black ground pepper tins, in attempting to make the Black Peppercorn Grinders look like their contents remain the same as the 1.24 oz. container prior to their reducing the bottles' contents to 1 oz., once again, McCormick is trying to camouflage its improper slack filling in its Black Peppercorn Grinders as it did in their ground black pepper tins.

 

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Industry Analysis

MKC

Industry Average

Valuation MKC Industry Range
Price/Earnings 24.4x
Price/Sales 2.4x
Price/Book 6.0x
Price/Cash Flow 21.8x
TEV/Sales 1.8x
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