Treasury’s China Growth Comes Into Question; Despite a Tumble, Shares Remain Overvalued
According to the Australian Financial Review, or AFR, no-moat Treasury Wine is facing a supply glut in China. Per the AFR, several of the company’s wholesalers have complained of forced purchases of Treasury’s midrange wine brands such as Wolf Blass and Rawson’s Retreat to gain access to the popular and growing high-end Penfolds range. However, according to the wholesalers quoted, the demand for these non-Penfolds wines is substantially lower, leading to up to half a million cases of Treasury wi...Treasury Wine Estates is engaged in viticulture and winemaking, and the marketing, sale and distribution of wine. Co.'s wine portfolio includes wine brands such as Penfolds, Beringer, Lindeman's, Wolf Blass, Stags' Leap, Chateau St Jean, Beaulieu Vineyard and Sterling Vineyards. Co. also distributes beer and cider under license in New Zealand and provides contract bottling services to third parties. Co. maintains its operations in four regions: Australia and New Zealand, Asia, Europe, and Americas.
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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