McCormick & Company, Inc. (MKC) - NYSE
  • Mon, May 2, 7:58 AM
    • April monthly performance was: +0.8%
    • AUM of $65.8B
    • $0.21 in dividends were paid in April
    • Top 10 Holdings as of 3/31/2016: Nucor Corp (NUE): 2.38%, Emerson Electric Co (EMR): 2.24%, Illinois Tool Works Inc (ITW): 2.22%, W.W. Grainger Inc (GWW): 2.22%, Genuine Parts Co (GPC): 2.22%, Pentair PLC (PNR): 2.19%, Leggett & Platt Inc (LEG): 2.19%, McCormick & Co Inc Non-Voting (MKC): 2.17%, Air Products & Chemicals Inc (APD): 2.15%, Dover Corp (DOV): 2.15%
    | Mon, May 2, 7:58 AM
  • Wed, Apr. 13, 7:42 AM
    • Premier Foods (OTCPK:PFODF) is down 25% in London trading after McCormick (NYSE:MKC) walks away from an acquisition pursuit.
    • Bloomberg reports that McCormick couldn't find a way to work with Nissin Foods or buy out the Japanese firm's 20% stake in Premier.
    • Watch for McCormick to track higher today with some analysis suggesting the Premier deal was a bit too much for the food manufacturer to bite off.
    • On that point, now read McCormick Is Absolutely Killing It, But Is It Too Expensive?
    | Wed, Apr. 13, 7:42 AM | 1 Comment
  • Wed, Apr. 13, 3:36 AM
    • McCormick & Co. (NYSE:MKC) has abandoned takeover talks with Premier Foods (OTCPK:PFODF), stating it would not be able to propose a price that the company would agree on, while delivering appropriate returns for its own shareholders.
    • The board sees a "strong future" as an independent business, Premier said in response, maintaining its beliefs that foundations have been laid for significant growth and shareholder value creation.
    • Premier Foods -28.5% in London.
    | Wed, Apr. 13, 3:36 AM | 9 Comments
  • Mon, Apr. 4, 7:23 AM
    • March monthly performance was: +6.87%
    • AUM of $1.49B
    • 52-week performance vs. the S&P 500 is: +5%
    • No dividends were paid in March
    • Top 10 Holdings as of 2/29/2016: Nucor Corp (NUE): 2.35%, Illinois Tool Works Inc (ITW): 2.18%, Genuine Parts Co (GPC): 2.17%, Leggett & Platt Inc (LEG): 2.16%, Emerson Electric Co (EMR): 2.16%, Target Corp (TGT): 2.16%, Cincinnati Financial Corp (CINF): 2.15%, W W Grainger Inc (GWW): 2.15%, McCormick & Co Inc Non-Voting (MKC): 2.11%, 3M Co (MMM): 2.11%
    | Mon, Apr. 4, 7:23 AM
  • Wed, Mar. 30, 5:27 PM
    • McCormick (NYSE:MKC) declares $0.43/share quarterly dividend, in line with previous.
    • Forward yield 1.72%
    • Payable April 25; for shareholders of record April 11; ex-div April 7.
    | Wed, Mar. 30, 5:27 PM
  • Wed, Mar. 30, 10:47 AM
    • Premier Foods (OTCPK:PFODF) says it will meet with McCormick (MKC -0.3%) to discuss the buyout offer from the company which it still sees as too low.
    • Shore Capital thinks Premier should accept the bid due to the reasonable valuation it implies.
    • Previously: McCormick raises offer for Premier Foods (March 30)
    | Wed, Mar. 30, 10:47 AM | 3 Comments
  • Wed, Mar. 30, 5:05 AM
    • McCormick (NYSE:MKC) has raised its offer for the U.K.'s Premier Foods (OTCPK:PFODF) to around £537 million ($773M), or £1.5B including shares and debt.
    • Premier, whose brands include Mr. Kipling cakes and OXO stock cubes, rejected a previous 60 pence a share offer by stating it significantly undervalued its "growth prospects," but McCormick believes its revised bid should be well received by shareholders and the company's board.
    • Premier Foods +7.4% in London.
    | Wed, Mar. 30, 5:05 AM | 2 Comments
  • Tue, Mar. 29, 6:56 AM
    • McCormick (NYSE:MKC) reports sales rose 7% on a constant currency basis in FQ1.
    • Segment revenue: Consumer: $633.8M (+2%, +6% on a constant currency basis); Industrial: $396.4M (+2%, +7% on a constant currency basis).
    • Gross profit rate increased 70 bps to 39.3%.
    • Segment operating income: Consumer: $94.3M (+3.1%); Industrial: $36.4M (+19%).
    • Adjusted operating margin rate grew 60 bps to 12.7%.
    • Income from unconsolidated operations fell 15.2% to $8.4M.
    • FY2016 Guidance: Sales: +1% to +3% (+4% to 6% in constant currency); Operating income: +17% to +20%; Adjusted operating income:+6% to +8%; Diluted EPS: $3.65 to $3.72; Adjusted diluted EPS: $3.68 to $3.75.
    | Tue, Mar. 29, 6:56 AM | 4 Comments
  • Tue, Mar. 29, 6:31 AM
    • McCormick (NYSE:MKC): FQ1 EPS of $0.74 beats by $0.05.
    • Revenue of $1.03B (+2.0% Y/Y) in-line.
    • Press Release
    | Tue, Mar. 29, 6:31 AM | 2 Comments
  • Mon, Mar. 28, 5:30 PM
  • Thu, Mar. 24, 2:36 PM
    • McCormick (MKC +0.3%) says it would consider increasing its latest offer for Premier Foods (OTCPK:PRRFY) if such a move is justified following confirmatory due diligence, including material documentation of Premier's pension position.
    • MKC says there has only been one face-to-face meeting, with Premier Foods chairman David Beever last month, but that Premier has conducted itself in a way that denies its shareholders an opportunity to consider its offer.
    • Premier says MKC's offer of 60p undervalues the company.
    | Thu, Mar. 24, 2:36 PM
  • Wed, Mar. 23, 8:49 AM
    • Premier Foods (OTCPK:PRRFY) is up 62% in London action after McCormick (NYSE:MKC) made an unsolicited cash offer of about $670M for the company.
    • Disclosing the news for the first time today, Premier says it's the second bid McCormick made for the company. The first was more than a month ago for 52p per share, and last week the company boosted that to 60p. Premier has rejected both.
    • "McCormick's proposal represents an attempt to capture the upside value embedded in Premier's business that rightfully belongs to Premier's shareholders," says Chairman David Beever.
    | Wed, Mar. 23, 8:49 AM
  • Thu, Jan. 28, 6:33 AM
    • McCormick (NYSE:MKC): Q4 EPS of $1.18 beats by $0.01.
    • Revenue of $1.20B (+2.6% Y/Y) beats by $10M.
    • Press Release
    | Thu, Jan. 28, 6:33 AM | 1 Comment
  • Wed, Jan. 27, 5:30 PM
    | Wed, Jan. 27, 5:30 PM | 18 Comments
  • Dec. 1, 2015, 8:05 AM
    • McCormick (NYSE:MKC) announces Lawrence Kurzius will replace Alan Wilson as CEO. Wilson will continue to serve as the Chairman of the Board.
    • Kurzius has worked closely with Wilson as President and COO of the company.
    | Dec. 1, 2015, 8:05 AM
  • Nov. 24, 2015, 4:24 PM
    • McCormick (NYSE:MKC) declares $0.43/share quarterly dividend, 7.5% increase from prior dividend of $0.40.
    • Forward yield 2.02%
    • Payable Jan. 15; for shareholders of record Dec. 31; ex-div Dec. 29.
    | Nov. 24, 2015, 4:24 PM | 5 Comments
Company Description
McCormick & Co., Inc. manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the retail outlets, food manufacturers and foodservice businesses. The company operates its business through two segments: Consumer and Industrial. The Consumer... More
Industry: Processed & Packaged Goods
Country: United States