Three high quality companies recently released earnings and guidance. Despite strong results and favorable earnings projections, investors have bid up the stock price of these companies to levels where there is a disconnect between the underlying fundamentals and the company's valuation. Summary Even investing in high quality companies can result in inferior investment returns. Investing [...]
Summary Even investing in high quality companies can result in inferior investment returns. Investing in a high quality company does not mean invest at any price. Pay particularly close attention to valuation levels. We are in the late stages of one of the longest bull markets in US history. Investors should be cautious when making [...]
Summary MKC is a dominant provider of spice and seasoning products to the commercial and industrial markets. It leveraged its balance sheet to acquire Reckitt Benckiser’s Food Division (‘RBFD’) for ~$4.21B in 2017 but management is committed to a significant reduction in debt levels by the end of fiscal 2020. Growth in revenue and margins [...]
Summary This McCormick & Company Stock Analysis is based on Q1 FY2017 financial results and outlook for the remainder of FY2017. MKC has increased its annual dividend for at least 30 consecutive years. It is the leader within the $10B global spices and seasonings industry. Adjusted EPS of $0.76 in Q1 2017 recently released with [...]
