McCormick & Company (MKC) is one of my favorite consumer staples companies. It is estimated that McCormick controls 20% of the spice and seasoning market. This gives it pricing power with customers. The company’s purchase of RB Foods, whose products include Frank’s Red Hot and French’s mustard, has been well worth the $4.2 billion price tag.

Shares of McCormick are up almost 17% year-to-date, but nearly 60% since the start of 2018. This has caused the stock’s price-to-earnings multiple to become stretched.

McCormick is a core holding in the March to Freedom Fund, but I won’t add to the position at just any price.

This article will review McCormick’s most recent quarterly results, dividend history and valuation before making a decision on whether to purchase more shares of the company.

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