Upgrading Fair Value Estimate and Earnings Estimates
We are more confident that Barry Callebaut will finish the year off reasonably well. The firm reports full-year results (to end August 2016)Â on Nov. 2, 2016. Pricing is now recovering strongly (we estimate that it is up 6% at the nine-month stage) after a two-year period in which increases in raw material prices squeezed margins. Our sales and EBIT estimates for both year-end fiscal 2016 and year-end fiscal 2017 increase by 3%, while our fair value estimate increases by 7% to CHF 1040. Our no-mo...Barry Callebaut is a cocoa and chocolate company, engaged in serving the food industry, from food manufacturers to professional users of chocolate such as chocolatiers, pastry chefs or bakers and products for vending machines. Co. offers a range of chocolate and other cocoabased products with numerous recipes. Co. also provides a comprehensive range of services in the fields of product development, processing, training and marketing. Co. is fully vertically integrated along the entire value chain: from sourcing of raw materials to finished products on the shelf. Co.'s operations are organized in three business units: Cocoa, Food Manufacturers, Gourmet & Specialties Products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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