McCormick & Company (MKC) was added to our defensive portfolio on June 2018 and has weathered the recent selloff considerable well, observes Jeffrey Hirsch, editor of Stock trader's Almanac.
The stock was still up 31% at yearend 2018 from our June entry point. This “boring” old company in the spice and flavor market came through our fundamental and technical screens last year with flying colors and then proceeded to report better than expected quarterly results that triggered the rally in its shares.
MKC also boasts a modest, yet steadily increasing dividend. The company has increased its dividend payments for 31 consecutive years. It has a dividend yield of 1.6%.
McCormick is a global leader in manufacturing, marketing and distribution of spices, seasoning mixes, condiments, and host of other flavor products to the food industry under such well-known brand names as: McCormick, French, Lawry's, Club House, Frank's RedHot, Gourmet Garden, Zatarain's, Stubb's, Thai Kitchen, and Simply Asia.
McCormick & Company — a top pick for investors in the coming year — is solid long-term conservative growth and income investment.
