#6 - McCormick & Co. (NYSE:MKC)
Food is one area where consumers tend to feel inflation directly. It will also be one of the last areas for inflation to ease its grip. But McCormick & Company Inc. (NYSE: MKC) remains an attractive stock to consider regardless of the direction inflation takes.
The reason is that “food” doesn’t just mean food you prepare at home. Since 2022, inflation-weary consumers have been in a tug-of-war between eating out versus eating at home. At first, it didn’t matter as consumers were just ready to get back to their pre-pandemic routine. But restaurants have raised their prices, and many consumers are swiftly making the pivot back to a home-cooked meal.
McCormick benefited from this trend in 2020 as consumers had to restock their neglected spice drawers. And that doesn’t even count the company’s recent acquisitions, which include Frank’s Red Hot and Cholula.
MKC stock is a Dividend Aristocrat, having increased its dividend for 38 consecutive years. That dividend currently has a yield of 2.45%.
About McCormick & Company, Incorporated
McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.
More about McCormick & Company, Incorporated- Current Price
- $76.36
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 4 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $83.14 (8.9% Upside)
