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McCormick -- >>> >>> 10 food stocks

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gfp927z   Friday, 06/14/13 05:40:49 PM
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McCormick -- >>> >>> 10 food stocks with tasty potential

Jim Jubak




Even this venerable maker of spices and flavorings (the company was founded in Baltimore in 1889) is getting in on the China acquisition act. On May 31, McCormick (MKC) announced that it had completed its acquisition of Wuhan Asia-Pacific Condiments, the maker of the DaQiao and ChuShiLe brand bouillon products. The products have a leading position in the central region of China, the company says, and as such go with McCormick's product portfolio in the coastal region.

What's impressive about that announcement is the company's recognition that it has to customize its product offerings, not just for China but also for China's very different regional palates.

McCormick's revenue took a hit in late January when, in its fourth quarter earnings report, the company announced lower sales to a major quick service restaurant chain in China: Yum Brands (YUM).

But from a low of $61.23, shares rebounded to $74.74 on May 15. They've dropped only 4.5% in the recent market retreat.

The shares trade at 22.3 times projected 2013 earnings per share.


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