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McCormick & Co., Inc. (MKC)

McCormick & Company, Incorporated is a global leader in flavor. With over $5 billion in annual sales across 160 countries and territories, the company manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the entire food industry including e-commerce channels, grocery, food manufacturers and foodservice businesses. Its most popular brands include McCormick, French's, Frank's RedHot, Stubb's, OLD BAY, Lawry's, Zatarain's, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club House, Aeroplane and Gourmet Garden. Every day, no matter where or what you eat or drink, you can enjoy food flavored by McCormick.

Company profile

Ticker
MKC, MKC.V
Exchange
CEO
Lawrence Kurzius
Employees
Incorporated
Location
Fiscal year end
Former names
MCCORMICK & CO
SEC CIK
Subsidiaries
Billy Bee Honey Products Company • Botanical Food Company • Botanical Food Company, Inc. • Brand Aromatics, Inc • CFCFlavor Holdings SA DE C.V. • The Cholula Food Company LLC • FONA International, LLC • The French's Food Company LLC • The French's Food Company, Inc. • Kohinoor Speciality Foods India Private Limited ...
IRS number
520408290

MKC stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

29 Mar 22
20 May 22
30 Nov 22
Quarter (USD) Feb 22 Nov 21 Aug 21 May 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Nov 21 Nov 20 Nov 19 Nov 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 338.4M 338.4M 338.4M 338.4M 338.4M 338.4M
Cash burn (monthly) 4.43M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 12.23M n/a n/a n/a n/a n/a
Cash remaining 326.17M n/a n/a n/a n/a n/a
Runway (months of cash) 73.6 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 May 22 Lisa Manzone Phantom Stock Common Stock - Voting Grant Acquire A Yes No 97.97 55.698 5.46K 10,826.58
10 May 22 Brendan M Foley Phantom Stock Common Stock - Voting Grant Acquire A Yes No 97.97 17.813 1.75K 6,063.924
2 May 22 Tapiero Jacques Common Stock - Voting Option exercise Acquire M No No 97.94 4.693 459.63 22,770.486
2 May 22 Tapiero Jacques Phantom Stock Common Stock - Voting Option exercise Dispose M Yes No 97.94 4.693 459.63 2,610.179
26 Apr 22 Brendan M Foley Phantom Stock Common Stock - Voting Grant Acquire A Yes No 100.59 17.349 1.75K 6,046.111
26 Apr 22 Lisa Manzone Phantom Stock Common Stock - Voting Grant Acquire A Yes No 100.59 54.247 5.46K 10,770.882
25 Apr 22 Brendan M Foley Common Stock - Non Voting Other Acquire J No No 95.5354 0 0 702.453
25 Apr 22 Brendan M Foley Common Stock - Voting Other Acquire J No No 95.5354 7.881 752.91 75,129.1
25 Apr 22 Brendan M Foley Phantom Stock Common Stock - Voting Other Acquire J Yes No 102.37 21.65 2.22K 6,028.721
25 Apr 22 Lisa Manzone Phantom Stock Common Stock - Voting Other Acquire J Yes No 102.37 38.401 3.93K 10,716.635
81.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 952 953 -0.1%
Opened positions 101 156 -35.3%
Closed positions 102 104 -1.9%
Increased positions 321 325 -1.2%
Reduced positions 330 309 +6.8%
13F shares Current Prev Q Change
Total value 20.26B 18.3B +10.7%
Total shares 203.12M 189.41M +7.2%
Total puts 306.4K 309.4K -1.0%
Total calls 1.02M 795.95K +27.6%
Total put/call ratio 0.3 0.4 -22.4%
Largest owners Shares Value Change
Vanguard 28.96M $2.89B +1.6%
BLK Blackrock 20.44M $2.04B +0.3%
State Farm Mutual Automobile Insurance 16.72M $1.67B 0.0%
Fundsmith 15.49M $1.55B NEW
STT State Street 13.49M $1.35B -2.0%
BEN Franklin Resources 4.96M $495.16M -0.9%
Geode Capital Management 4.95M $493.24M +4.8%
NTRS Northern Trust 3.62M $360.78M +0.2%
Fundsmith Investment Services 3.55M $354.53M NEW
Capital Research Global Investors 2.72M $270.98M +0.0%
Largest transactions Shares Bought/sold Change
Fundsmith 15.49M +15.49M NEW
Fundsmith Investment Services 3.55M +3.55M NEW
Norges Bank 0 -2.41M EXIT
Parnassus Investments 0 -1.6M EXIT
Nordea Investment Management Ab 2.37M -1.17M -33.0%
Lord, Abbett & Co. 91.73K -904.96K -90.8%
J.W. Cole Advisors 866.18K +857.38K +9737.4%
Select Equity 0 -819.82K EXIT
SF Stifel Financial 199.91K -816.04K -80.3%
Vaughan Nelson Investment Management 761.56K +761.56K NEW

Financial report summary

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Risks
  • A pandemic, including COVID-19, could have an adverse impact on our business, financial condition, and results of operations.
  • 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, consumer behaviors, and competitive, economic and other pressures facing our customers, may impact our financial condition or results of operations.
  • 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.
  • 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.
  • ESG issues, including those related to climate change and sustainability, may have an adverse effect on our business, financial condition and results of operations and damage our reputation.
  • Increases in interest rates or changes in our credit ratings may negatively impact us.
  • Uncertain global economic conditions expose us to credit risks from customers and counterparties.
  • Our credit ratings impact the cost and availability of future borrowings and, accordingly, our cost of capital.
  • We may incur additional indebtedness to finance our acquisitions 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 planned 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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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
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