One-Off Positives Priced In; Shares Look Overvalued Without Significant Fundamental Improvement
Narrow-moat Kikkoman posted a solid set of third-quarter results, as expected. While the 6.5% sales growth (4.5% excluding foreign exchange impacts) was slightly below our expectations, 15% growth (13% like for like) in operating profits came in above our estimate of 11% growth. A rebound in the wholesale margin, combined with continued double-digit growth in the domestic and overseas food sales, along with favorable exchange rates, is attributable to robust performance. The company has kept its...
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.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.