J.P. Morgan Maintains Neutral on McCormick & Co. (MKC)

J.P. Morgan is out with its report today on McCormick & Co.

, maintaining Neutral. In a note to clients, J.P. Morgan writes, "Though EPS beat and margins were outstanding, we believe that many staples investors today are more concerned with top line growth than usual. The headline that McCormick's revenue growth came in lower than what the Street expected, combined with a P/E ratio of 17.2x that is above the group mean by about 2x, may conspire to set back the shares for a short while." At the time of posting, shares of MKC were trading at $49.52, down 0.18% from Monday's close.