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McCormick & Company, Incorporated Non-VTG CS - MKC STOCK NEWS

Welcome to our dedicated page for McCormick & Company, Incorporated Non-VTG CS news (Ticker: MKC), a resource for investors and traders seeking the latest updates and insights on McCormick & Company, Incorporated Non-VTG CS stock.

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in flavor and has been a trusted name in the industry for over 130 years. Headquartered in Hunt Valley, Maryland, the company manufactures, markets, and distributes a wide array of spices, seasoning mixes, condiments, and other flavorful products to the entire food industry including e-commerce channels, grocery stores, food manufacturers, and food service businesses.

McCormick's broad product portfolio includes popular brands such as 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. These products reach consumers in more than 150 countries and territories around the world.

McCormick's commitment to quality and innovation is evident through its extensive partnerships with farmers and suppliers across 40 different countries, guaranteeing year-over-year consistency and great-tasting quality spices. The company’s relentless focus on sustainability and purpose-led performance has embedded itself into its culture, driving significant achievements and growth.

Recent notable developments include the promotion of Brendan Foley to President and CEO effective September 1, 2023, succeeding Lawrence E. Kurzius who will continue as Executive Chairman. Under Kurzius's leadership, the company saw remarkable growth, including top-tier organic sales growth and the acquisitions of iconic brands like Frank's RedHot, French's, and Cholula.

McCormick reported strong financial performance for the fiscal year 2023, with a significant increase in gross profit margin and operating income. The company has raised its profit outlook for fiscal 2024 due to robust demand across its portfolio and successful cost optimization strategies.

In its continuous efforts to stay ahead in a fast-changing world, McCormick recently entered a transformative agreement with Cognizant to manage its global technology infrastructure. This partnership aims to deliver best-in-class user experiences for McCormick's global workforce and accelerate the company's digital transformation journey.

McCormick is guided by its purpose – To Stand Together for the Future of Flavor – envisioning a world united by healthy, sustainable, and delicious food. For more information, visit McCormick Corporation or follow McCormick & Company on Instagram and LinkedIn.

News

McCormick & Company to Present at Consumer Analyst Group of New York Conference

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McCormick & Company, Incorporated (MKC) will be presenting at the Consumer Analyst Group of New York (CAGNY) Conference on February 20, 2024. The presentation will be webcast live and a replay will be available on the company's website. Brendan Foley, President & CEO, and Mike Smith, Executive Vice President & CFO, will represent McCormick at the event.
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McCORMICK REPORTS 2023 FINANCIAL RESULTS AND PROVIDES 2024 OUTLOOK

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McCormick & Company, Inc. reported a 3% increase in sales for the fourth quarter and 5% increase for fiscal year 2023. Earnings per share grew to $0.81 for the fourth quarter and $2.52 for the fiscal year. The company's 2024 outlook anticipates sales to range between (2)% to 0% compared to 2023, with operating income expected to grow by 8% to 10%. President and CEO Brendan M. Foley expressed confidence in driving improved volume trends in 2024.
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McCormick Appoints Terry Thomas to Board of Directors

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McCormick & Company, Incorporated (MKC) announced the appointment of Terry Thomas, Chief Growth Officer of Flowers Foods, Inc., to its Board of Directors. Mr. Thomas brings over 30 years of experience in the CPG industry and is known for his expertise in sales, marketing, and growth strategy. His deep understanding of the retail landscape and global experience make him a valuable addition to McCormick's board. The appointment is part of the board's commitment to continuous refreshment, ensuring a relevant mix of skills and experiences to complement McCormick's strategy and governance practices.
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McCormick & Company Named to Corporate Knights Global 100 Sustainability Index for 8th Consecutive Year

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McCormick & Company, a global leader in flavor, has been named the world's 49th most sustainable company and No. 1 in the Food Products industry by the Corporate Knights Global 100 Sustainability Index. The company has been featured on this list for the eighth consecutive year and has retained its top position among its food industry peers. McCormick is committed to transitioning to low-carbon renewable energy sources and has made significant progress in achieving its Net-Zero goal by 2050.
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McCormick & Company to Report 2023 Fourth Quarter Financial Results on January 25, 2024

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McCormick & Company, Incorporated (NYSE: MKC) to host conference call and webcast for Q4 2023 financial results on January 25, 2024
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McCormick & Company's 2050 Net-Zero Target Validated by Science Based Targets Initiative

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McCormick & Company, Incorporated (NYSE: MKC) has had its net-zero science-based target by 2050 approved by the Science Based Targets initiative (SBTi). The company also had its near-term emission reduction targets approved, with a 42% absolute reduction across Scopes 1, 2, and 3 by 2030. McCormick is a cofounding member of the Supplier Leadership on Climate Transition (S-LOCT) to support suppliers in reducing emissions. The company is committed to achieving full decarbonization through various initiatives, including energy efficiencies, renewable energy transition, waste reduction, regenerative agriculture, and nature-based solutions. McCormick is actively seeking partnerships within its supply chain and inviting other organizations to join them on the journey to net-zero.
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McCormick Announces Increase in Quarterly Dividend

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McCormick & Company, Incorporated (NYSE:MKC) has declared an increase in the quarterly dividend from $0.39 to $0.42 per share on its common stocks, payable January 8, 2024 to shareholders of record December 29, 2023. This marks the 38th consecutive year that the Company has increased its quarterly dividend. Brendan M. Foley, President & CEO, emphasized the company's focus on growth, performance, and people, and the continued execution of proven strategies to deliver sustainable long-term growth and build shareholder value. McCormick has paid dividends each year since 1925.
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McCORMICK REPORTS STRONG THIRD QUARTER PERFORMANCE

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McCormick reports 6% sales growth in Q3, with a 6% increase in constant currency. Operating income increases to $245 million. Adjusted earnings per share is $0.65. Cash flow from operations is $660 million. Sales and operating profit outlook for fiscal 2023 reaffirmed. Sales expected to grow by 5-7% in 2023. Operating income expected to grow by 11-13%. Adjusted earnings per share expected to be $2.62-$2.67. Strong cash flow expected.
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McCormick Declares $0.39 Quarterly Dividend

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McCormick & Company declares quarterly dividend of $0.39 per share, marking 99th consecutive year of dividend payments.
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McCormick & Company, Incorporated to Report 2023 Third Quarter Financial Results on October 3, 2023

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McCormick & Company to conduct Q3 financial results conference call and webcast on October 3, 2023 at 8:00 a.m. ET.
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FAQ

What is the current stock price of McCormick & Company, Incorporated Non-VTG CS (MKC)?

The current stock price of McCormick & Company, Incorporated Non-VTG CS (MKC) is $75.31 as of November 19, 2024.

What is the market cap of McCormick & Company, Incorporated Non-VTG CS (MKC)?

The market cap of McCormick & Company, Incorporated Non-VTG CS (MKC) is approximately 20.1B.

What does McCormick & Company do?

McCormick & Company is a global leader in flavor, manufacturing, marketing, and distributing spices, seasoning mixes, condiments, and other flavorful products for the entire food industry.

Who is the current CEO of McCormick & Company?

Brendan Foley is the current President and CEO of McCormick & Company as of September 1, 2023.

Where is McCormick & Company headquartered?

McCormick & Company is headquartered in Hunt Valley, Maryland, USA.

In how many countries does McCormick operate?

McCormick's products reach consumers in more than 150 countries and territories worldwide.

What are some of McCormick’s popular brands?

Some of McCormick’s 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.

What recent changes have occurred in McCormick's leadership?

Brendan Foley was promoted to President and CEO, effective September 1, 2023, and Lawrence E. Kurzius transitioned to Executive Chairman.

What financial achievements did McCormick report for fiscal 2023?

McCormick reported significant increases in gross profit margin and operating income for fiscal 2023 and raised its profit outlook for fiscal 2024.

How is McCormick advancing its digital transformation?

McCormick entered an agreement with Cognizant to transform and manage its global technology infrastructure, accelerating the company's digital transformation journey.

What is McCormick’s commitment to sustainability?

McCormick is committed to sustainability and purpose-led performance, aiming to create a world where healthy, sustainable, and delicious food go hand in hand.

Where can I find more information about McCormick?

For more information, visit McCormick Corporation's website or follow McCormick & Company on Instagram and LinkedIn.

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McCormick & Company, Incorporated Non-VTG CS

NYSE:MKC

MKC Rankings

#545 Ranked by Market Cap
#1301 Ranked by Dividends

MKC Stock Data

20.14B
264.96M
0.02%
88.11%
1.84%
Packaged Foods
Miscellaneous Food Preparations & Kindred Products
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United States of America
HUNT VALLEY