Wesfarmers’ FVE Drops to AUD 29 per Share and Its Moat Widens, as Coles’ Is Stripped
We upgrade Wesfarmers’ economic moat rating to wide from narrow following the demerger of the no-moat-rated Coles segment. Our wide moat rating is chiefly underpinned by the highly profitable and market-leading Bunnings hardware business, the key earnings contributor of Wesfarmers post-demerger.We’ve updated our fair value estimate for Wesfarmers on a standalone basis to AUD 29.00 per share. Together with our AUD 13.30 per share fair value estimate for Coles, we value the combined entities at A...
Metcash is a wholesaler and distributor, supplying and supporting independent retailers across the food, grocery, liquor and hardware industries. Co.'s reportable segments are as follows: Food and Grocery, which comprises the distribution of dry grocery, perishable and general merchandise supplies to retail outlets; Liquor, which comprises the distribution of liquor products to retail outlets and hotels; as well as Hardware, which comprises the distribution of hardware supplies to retail outlets and trade customers.
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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