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Edward Jones

McCormick shares tumble after disappointing fourth-quarter earnings

McCormick shares tumble after disappointing fourth-quarter earnings

Shares of McCormick & Co. Inc. tumbled more than 10 percent Thursday after the Hunt Valley spice maker missed profit estimates and said sales growth slowed in the fourth quarter.

A record year for McCormick ended on a weaker note mostly because of inventory problems at several retailers, which in some cases left higher profit margin items out of stock around the Thanksgiving holiday, a key selling time for the flavorings maker. Currency fluctuations also hurt profits.

“It was a disappointing quarter, in our view,” Brittany Weissman, a consumer analyst with Edward Jones, wrote in a report Thursday. “While growth was solid, McCormick's premium valuation had investors...

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