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MKC McCormick & Co., Inc.

McCormick & Company is a global food company that manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavoring products for the industrial, restaurant, institutional, and home markets. A Fortune 1000 company, McCormick has approximately 12,400 employees. The company headquarters moved from Sparks to Hunt Valley, Maryland in the third quarter of 2018. Willoughby M. McCormick , started the business in Baltimore at age 25 in 1889. From one room and a cellar, he sold his initial products door-to-door which included root beer, flavoring extracts, fruit syrups and juices. Seven years later, McCormick bought the F.G. Emmett Spice Company and entered the spice industry. In 1903, Willoughby and his brother Roberdeau incorporated the company in Maine; they reincorporated in Maryland in 1915. Most of the company's assets and records were destroyed in the Great Baltimore Fire of February 1904. However, they constructed a new five-story building on the same site within 10 months in 1905.

Company profile

Ticker
MKC, MKC.V
Exchange
CEO
Lawrence Kurzius
Employees
Incorporated
Location
Fiscal year end
Former names
MCCORMICK & CO
SEC CIK
IRS number
520408290

MKC stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

30 Mar 21
22 Apr 21
30 Nov 21
Quarter (USD)
Feb 21 Nov 20 Aug 20 May 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Nov 20 Nov 19 Nov 18 Nov 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 256.1M 256.1M 256.1M 256.1M 256.1M 256.1M
Cash burn (monthly) 55.83M (positive/no burn) (positive/no burn) (positive/no burn) 10.73M (positive/no burn)
Cash used (since last report) 102.73M n/a n/a n/a 19.75M n/a
Cash remaining 153.37M n/a n/a n/a 236.35M n/a
Runway (months of cash) 2.7 n/a n/a n/a 22.0 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
13 Apr 21 Kurzius Lawrence Erik Common Stock - Voting Gift Dispose G No No 0 110,000 0 67,849
13 Apr 21 Brendan M Foley Phantom Stock Common Stock - Voting Grant Aquire A Yes No 88.02 19.226 1.69K 4,753.892
13 Apr 21 Lisa Manzone Phantom Stock Common Stock - Voting Grant Aquire A Yes No 88.02 60.083 5.29K 7,934.683
31 Mar 21 Smith Michael R Options - Right to Buy Common Stock - Voting Grant Aquire A No No 89.16 59,913 5.34M 59,913
31 Mar 21 Kurzius Lawrence Erik Options - Right to Buy Common Stock - Voting Grant Aquire A No No 89.16 220,589 19.67M 220,589

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

74.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 930 904 +2.9%
Opened positions 113 108 +4.6%
Closed positions 87 58 +50.0%
Increased positions 788 272 +189.7%
Reduced positions 23 353 -93.5%
13F shares
Current Prev Q Change
Total value 17.62B 17.95B -1.8%
Total shares 184.59M 92.5M +99.6%
Total puts 357.7K 643.8K -44.4%
Total calls 303.4K 328.8K -7.7%
Total put/call ratio 1.2 2.0 -39.8%
Largest owners
Shares Value Change
Vanguard 28.2M $2.7B +96.9%
BLK Blackrock 20.83M $1.99B +96.2%
State Farm Mutual Automobile Insurance 17.57M $1.68B +100.0%
STT State Street 12.33M $1.18B +93.4%
BEN Franklin Resources 4.62M $441.54M +104.0%
Geode Capital Management 4.28M $407.86M +105.7%
Capital Research Global Investors 3.06M $292.22M +100.1%
NTRS Northern Trust 2.88M $275.6M +95.4%
WFC Wells Fargo & Co. 2.53M $242.28M +106.4%
BK Bank Of New York Mellon 2.1M $201.16M +102.6%
Largest transactions
Shares Bought/sold Change
Vanguard 28.2M +13.87M +96.9%
BLK Blackrock 20.83M +10.21M +96.2%
State Farm Mutual Automobile Insurance 17.57M +8.79M +100.0%
STT State Street 12.33M +5.95M +93.4%
BEN Franklin Resources 4.62M +2.35M +104.0%
Geode Capital Management 4.28M +2.2M +105.7%
Norges Bank 1.78M +1.78M NEW
Capital Research Global Investors 3.06M +1.53M +100.1%
NTRS Northern Trust 2.88M +1.41M +95.4%
WFC Wells Fargo & Co. 2.53M +1.31M +106.4%

Financial report summary

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Risks
  • Our operations may be adversely impacted as a result of pandemic outbreaks, including COVID-19.
  • Damage to our reputation or brand name, loss of brand relevance, increase in use of private label or other competitive brands by customers or consumers, or product quality or safety concerns could negatively impact our business, financial condition or results of operations.
  • Customer consolidation, and competitive, economic and other pressures facing our customers, may put pressure on our operating margins and profitability.
  • Our profitability may suffer as a result of competition in our markets.
  • Our operations may be impaired as a result of disasters, business interruptions or similar events.
  • We may not be able to successfully consummate and manage ongoing acquisition, joint venture and divestiture activities which could have an impact on our results.
  • An impairment of the carrying value of goodwill or other indefinite-lived intangible assets could adversely affect our results.
  • Streamlining actions to reduce fixed costs, simplify or improve processes, and improve our competitiveness may have a negative effect on employee relations.
  • If we are unable to fully realize the benefits from our CCI program, our financial results could be negatively affected.
  • Uncertain global economic conditions expose us to credit risks from customers and counterparties.
  • Fluctuations in foreign currency markets may negatively impact us.
  • The on-going effects of the decision by British voters to exit the European Union may negatively impact our operations.
  • We face risks associated with certain pension assets and obligations.
  • Climate change may negatively affect our business, financial condition and results of operations.
  • Increases in interest rates or changes in our credit ratings may negatively impact us.
  • Our credit ratings impact the cost and availability of future borrowings and, accordingly, our cost of capital.
  • We have incurred additional indebtedness to finance the acquisition of Cholula and FONA that may limit our ability to, among other matters, issue additional indebtedness, meet our debt service requirements, react to rising interest rates, comply with certain covenants and compete with less highly leveraged competitors.
  • The deterioration of credit and capital markets may adversely affect our access to sources of funding.
  • The uncertainty regarding the potential phase-out of LIBOR may negatively impact our operating results.
  • The declaration, payment and amount of dividends is made at the discretion of our board of directors and depends on a number of factors.
  • Our intellectual property rights, and those of our customers, could be infringed, challenged or impaired, and reduce the value of our products and brands or our business with customers.
  • Our operations and reputation may be impaired if our information technology systems fail to perform adequately or if we are the subject of a data breach or cyber-attack.
  • If we are not able to successfully implement our business transformation initiative or utilize information technology systems and networks effectively, our ability to conduct our business may be negatively impacted.
  • Laws and regulations could adversely affect our business.
  • Litigation, legal or administrative proceedings could have an adverse impact on our business and financial condition or damage our reputation.
  • Our international and cross-border operations are subject to additional risks.
  • The global nature of our business, changes in tax legislation and the resolution of tax uncertainties create volatility in our effective tax rate.
Content analysis
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Readability
H.S. junior Avg
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