Wide-moat McCormick is peppered with opportunities to extend sales and profit gains.
The strength of McCormick’s brands, retail relationships, and cost edge (which in combination underlie its wide moat) were evident in the first quarter. Organic sales ticked up 2.2% (a 1.5% benefit from increased volumes and favorable mix and a 70-basis-point uptick in prices), gross margins expanded 220 basis points to 42%, and adjusted operating margins increased 250 basis points to 15.7%. While McCormick was lapping a soft quarter a year ago (when sales edged up just 90 basis points), it saw ...McCormick & Co. manufactures, markets and distributes spices, seasoning mixes, condiments and other flavor products to the food industry- retailers, food manufacturers and foodservice businesses. The company also is partner in a number of joint ventures that are involved in the manufacture and sale of flavor products. The company's business segments comprised of: consumer, in which the company markets its products to customers and supplies private label items, known as store brands; and flavor solutions, which provides a range of flavor solutions including seasoning blends, spices and herbs, condiments, coating systems and compound flavors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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