McCormick (MKC) Will Continue to Lead on Innovation, Presence - Cramer
Tweet
Share
E-mail
Get Alerts MKC Hot Sheet
Price: $73.92 +1.68%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.2%
EPS Growth %: 0.0%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.2%
EPS Growth %: 0.0%
Join SI Premium – FREE
McCormick (NYSE: MKC) is one spicy stock investors shouldn't miss out on, according to stock sage Jim Cramer.
Shares of McCormick are about flat since reporting fourth-quarter results on January 24th. The company missed EPS estimates by three cents while lowering its guidance for 2013.
McCormick typically sees some selling following quarterly results, with this year being no exception. Cramer notes that a rebound usually follows and over the past 10 years, owning McCormick was a better bet than owning the S&P as a whole.
Management at McCormick attributed results in part to disruptions caused by Hurricane Sandy as well as a higher tax rate expected in 2013. Amid the pressure, McCormick still plans on growing 8 percent to 10 percent through the year.
Having a 50 percent control of the market isn't stopping McCormick either; for example, the company introduced 25 new products in just the last month, notes Cramer.
Though McCormick might seem pricey at 19.7 times earnings, Cramer notes that shares have typically traded in that range and the recent selloff should be seen as a buying opportunity.
McCormick is up 0.8 percent on the session Thursday.
Shares of McCormick are about flat since reporting fourth-quarter results on January 24th. The company missed EPS estimates by three cents while lowering its guidance for 2013.
McCormick typically sees some selling following quarterly results, with this year being no exception. Cramer notes that a rebound usually follows and over the past 10 years, owning McCormick was a better bet than owning the S&P as a whole.
Management at McCormick attributed results in part to disruptions caused by Hurricane Sandy as well as a higher tax rate expected in 2013. Amid the pressure, McCormick still plans on growing 8 percent to 10 percent through the year.
Having a 50 percent control of the market isn't stopping McCormick either; for example, the company introduced 25 new products in just the last month, notes Cramer.
Though McCormick might seem pricey at 19.7 times earnings, Cramer notes that shares have typically traded in that range and the recent selloff should be seen as a buying opportunity.
McCormick is up 0.8 percent on the session Thursday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Growth isn't weak enough to truly undercut inflation pressures - BMO
- PayPal (PYPL) stock: Risk-reward 'finally looks favorable' says Deutsche Bank
- Acme United (ACU) Misses Q1 EPS by 20c
Create E-mail Alert Related Categories
Insiders' BlogRelated Entities
Jim Cramer, Standard & Poor's, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
