MCCORMICK & CO. INC. $93 (New York symbol MKC; Income Portfolio, Consumer sector; Shares outstanding: 115.3 million; Market cap: $10.7 billion; Price-to-sales ratio: 2.8; Dividend yield: 1.8%; TSINetwork Rating: Average; www.mccormick.com) has paid $114 million for Botanical Food Co. Based in Australia, this firm makes packaged herbs under the Gourmet Garden brand. It sells these products mainly in Australia and North America.
The purchase complements McCormick’s existing spice products. It will also add $53 million to its annual sales of $4.3 billion.
The stock now trades at 24.9 times the $3.73 a share that the company will likely earn in its current fiscal year. That’s a high multiple in light of McCormick’s growth-by-acquisition strategy and currency risk.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Changes to this Policy
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