FEBRUARY 4, 2019
CHANGE TO TOP 20 POSITION: BOUGHT MORE MKC-US AT $121.56
POSITION SIZE: Regular Position size (1.5%) – Previously Underweight at 0.75%
JUSTIFICATION: McCormick shares sold off following the announcement of earnings on January 24th . Due to the sell-off in shares values, we are re-instating our regular position at $121.56. We had previously reduced our position in McCormick on December 12, 2018 at $154.71 because the valuation was in the high end of the historical range.
The Purple Chips 12 – 18 month target is $138.00
WHO IS MCCORMICK:
McCormick & Co., Inc. manufactures, markets and distributes spices, seasoning mixes, condiments and other flavorful products to the retail outlets, food manufacturers and foodservice businesses.