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Strategies & Market Trends : Young and Older Folk Portfolio
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To: chowder who wrote (249)8/2/2021 1:10:56 PM
From: chowder1 Recommendation

Recommended By
INCOGNIT0$

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Re: Older Folk Portfolio ... Add On Purchase.

Today I added to MKC.

MKC is a fairly new holding in this portfolio and thus is currently a small position. With today's add on purchase, I brought MKC up to $19,159 in value.

With MKC I was looking for a company considered as a defensive position and a little more dividend growth, thus I'm looking for a Chowder Number above 10.

The Chowder Number (someone else coined this phrase not me) is:

Current Yield + 5 Year Dividend Growth = Equal 10 or higher.

MKC has a yield of 1.61% and a 5 year dividend growth rate of 9.5% giving it a Chowder Number of 11.11.

MKC has currently corrected from its high valuation and is currently off 20.19% from its 52 week high. I am buying the dip.

In addition to this, MKC in it's latest earnings report announced a beat and raise. A beat and raise is where the company beats earnings and revenue expectations and then provides higher guidance going forward.

McCormick (NYSE: MKC): Q2 Non-GAAP EPS of $0.69 beats by $0.07; GAAP EPS of $0.68 beats by $0.09.Revenue of $1.56B (+11.4% Y/Y) beats by $90M.

Adjusted gross margin rate of 39.5% vs. consensus of 39.8%.

For FY2021, the company increased its sales outlook to expected growth of 11%-13% vs. previous projection of 8%-10% and consensus of +9.3%.

Adjusted EPS expectations raised from prior outlook of $2.97-$3.02 to $3-$3.05 vs. consensus of $2.99.

I will continue adding to this position in the coming weeks.
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