No-Moat Weston Executing Amid Challenging Deflation Environment; Shares Fairly Valued
We do not plan to significantly change our CAD 110 fair value estimate for George Weston other than for the time value of money, after the no-moat company’s fourth-quarter report and outlook tracked toward our forecast, leaving shares fairly valued.Loblaw (95% of total sales) recently reported its results, which were near our expectations. The retailer reported food (75% of the segment's total revenue) same-store sales growth of 1.1% in the fourth quarter (0.1% excluding an extra day), represen...
George Weston is a holding company. Co. has two reportable operating segments: Weston Foods and Loblaw. The Weston Foods operating segment is engaged in fresh and frozen baking company in Canada and frozen baking and biscuit manufacturing in the United States. The Loblaw operating segment is engaged in distributing and providing drugstore, general merchandise and financial products and services.
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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