Time to Buy McCormick Stock After a Strong Quarter?
The home-cooking niche continues to heat up. McCormick (NYSE: MKC), a leader in the spices, flavorings, and condiments industry, announced surprisingly strong sales growth on Tuesday to kick off its fiscal 2021. Better yet, this Dividend Aristocrat raised its outlook on both earnings and sales, implying market-thumping returns for investors ahead.
Investors had left McCormick's stock out of the broader market's rally of the last six months, yet the company made a good case for a change in that trend. In its fiscal first quarter, which ended Feb. 28, sales rose 20% year over year -- well above both Wall Street's targets and the 5% uptick the company notched in the prior quarter.
"We started the year with outstanding performance," CEO Lawrence Kurzius said in a press release.
Source Fool.com
