Better Dividend Stock: McCormick vs. PepsiCo
Income investors have made it clear that they are more optimistic about PepsiCo's (NASDAQ: PEP) business than McCormick's (NYSE: MKC) right now. Both companies enjoy strong market share positions in staple food brands, but Pepsi's shares are beating the S&P 500 over the past year while McCormick's are trailing the market.
McCormick recently updated investors about its early 2023 performance while issuing its latest outlook for the fiscal year. Let's see whether those trends make the spice and flavorings specialist a more attractive buy today.
McCormick still trails its larger peer when it comes to growth. Sure, sales trends accelerated to a 5% increase in Q1 compared to a 2% uptick in the prior quarter. And McCormick solved a few of its supply chain challenges and boosted market share. "Our record ... sales performance reflects the strength of our broad global portfolio," CEO Lawrence Kurzius said in a press release.
Source Fool.com
