McCormick Just Showed Why It's a Solid Reopening Stock
McCormick (NYSE: MKC) describes itself as a flavor company, which is fairly unique in the packaged food space. However, selling flavors has been a great place to be so far this year, and that positive trend is likely to continue.
Here's how investors should be thinking about this food giant, and why it is a solid reopening stock.
Like many of McCormick's peers, the company is really a brand manager, with iconic names like its namesake spices, French's mustard, and Frank's Red Hot filling out its roster. What sets the company apart is that it focuses on flavor enhancers. This unique positioning has led to years of steady growth, highlighted by more than three decades of annual dividend increases. The average annualized dividend increase over the past decade was roughly 9%, which is an impressive sum for a company in the generally slow-growth packaged food industry.
Source Fool.com
