McCormick Is Down 27% From Its High. Time to Buy?
Anyone who thought they'd spice up their portfolio by adding McCormick (NYSE: MKC) to the mix has been left with a bad taste in their mouth. The stock has lost more than a quarter of its value from the highs it hit last April.
Inflation, higher energy costs, rising interest rates, ongoing COVID disruptions in China, and a heavy debt load as a result of acquisitions have taken their toll on this consumer staple stalwart, causing McCormick to reduce its full-year outlook. Should investors have any hope this long-term best-in-class can turn it around in 2023?
With economic indicators all over the place, it's not a clear-cut case for growth, but there is every indication you still won't go wrong by buying the seasonings leader today.
Source Fool.com
