I thought McCormick (NYSE:MKC) looked expensive earlier this year at $85, and to see the stock hit $107 in July. That valuation seemed almost crazy to my eye, with MKC trading at a huge premium to historical multiples despite significant questions regarding its business. And MKC has retreated from those levels, at least:
Source: finviz.com
McCormick's performance through the first three quarters of FY16 (ending November) certainly has assuaged some of the earlier concerns I held toward the business. And the ~10% decline from early July peaks has made the entry point more attractive.
