tag:blogger.com,1999:blog-349162313341138638.post4967129386779410601..comments2024-01-02T06:54:27.999-08:00Comments on Total Return Investor: McCormick Spice - Almost PerfectUnknownnoreply@blogger.comBlogger7125tag:blogger.com,1999:blog-349162313341138638.post-47431636463652221442019-07-28T04:36:10.346-07:002019-07-28T04:36:10.346-07:00Dearest Esteems,
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It looks like the P/CF is a ...My pleasure, Gunnar.<br /><br />It looks like the P/CF is a better reflection on the current relative price as it is certainly running a little ahead of its historical average. <br /><br />I must admit, I am sorely tempted to open a small "marker" position at the current price and wait until the price drops before opening a larger one. It is certainly not outrageously priced. <br /><br />As far as I can gather they have grown earnings every year since 1999. That seems almost too good to be true. I can't actually think of another company which can boast the same history.<br /><br />You're right, like Unilever, this does not seem to ever be "cheap". Although, Unilever has had a few dips of late thanks to the emerging market turmoil which has been good for some top-ups. <br /><br />I have run my little "fair value" sums through MKC and have got a price of $78.77 as a target. (I get this by taking the 5 year average PE and multiplying this by the average consensus EPS predictions for the next two years). That seems fair to me. Obviously running quite ahead of that at the moment. We will see if it drops down or not!Dividend Drivehttp://dividend-drive.blogspot.co.uk/noreply@blogger.comtag:blogger.com,1999:blog-349162313341138638.post-89705942795730875592015-11-09T14:03:13.923-08:002015-11-09T14:03:13.923-08:00@Dividend Drive - thank you. Morningstar has a 30 ...@Dividend Drive - thank you. Morningstar has a 30 P/E TTM and a forward P/E of 22.<br /><br />I like P/CF better and here they have a 20 P/CF versus a 5 year average 19.2 P/CF. <br /><br />In any case, similar to a Unilever, this is not a company that ever gets really cheap at least as far back as I can see. Unlike Unilever (which is a great company in its own right), McCormick is smaller and more focused. <br /><br />I will be interested to hear what you think once you drill downgunnarhttps://www.blogger.com/profile/07135552999737363711noreply@blogger.comtag:blogger.com,1999:blog-349162313341138638.post-21947674960118318262015-11-09T11:16:51.281-08:002015-11-09T11:16:51.281-08:00Very interesting. McCormick's had not even bee...Very interesting. McCormick's had not even been on my radar before. Thanks for highlighting it. <br /><br />Interesting to see just what an excellent company it is. Looking at their dividend history, they are easily a dividend aristocrat and looking at their reports saw pretty significant growth throughout the recession. Stunning.<br /><br />What I would say is that I think Morningstar has its data wrong. My calculations show that last years PE is around 24.7 and with consensus earnings this drops to 24.8 and 21.6 the next two years. <br /><br />I'd check the numbers separately as it may be that they are not badly priced for you at all! Certainly, they have jumped to the top of my watch list! Dividend Drivehttp://dividend-drive.blogspot.co.uk/noreply@blogger.com