Dive Brief:
- On Monday, McCormick & Co., Inc. shares hit $78.45, a 52-week high, after increasing by 1.8% in one day and closed at $78.27.
- That day, the company had unveiled 21 new products, including flavored sea salts, chili peppers, and burger sauce mix-ins.
- Shares had already been on an upswing since McCormick reported positive Q1 2015 earnings results followed by a new share repurchase initiative last month. Shares have jumped 7.5% since the earnings release date.
Dive Insight:
According to Zacks, "McCormick regularly enhances its products through innovation in order to remain competitive and tap the rising demand for new flavors, spices and herbs, which are fast replacing demand for sugar, salt and fat." McCormick also introduced new gluten-free recipe mixes in December. If McCormick can prove that its products are not just tasty additions to food but can also contribute to creating a healthier meal, the company just may continue to see these types of results.