McCormick (MKC) delivered Q4 adjusted EPS of $1.54, a 21% increase y/y. Organic sales growth was driven by a good balance of volume and price increase, reflective in our eyes of the strength of McCormick’s portfolio. This led to a 220bps margin expansion, which is respectable in the food sector. We see 2018 guidance as achievable and thus maintain our view of MKC as a core holding in the consumer staples sector. Price target revised up to $117. Continue reading “McCormick 4Q17 earnings: MKC showed us it remains a core holding in consumer staples (and in our kitchen)”