Two Directors at Loblaw Companies Limited sold/gave away 2,555 shares at between 0.000CAD and 189.690CAD. The significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's d...
Stay Tactically Overweight Defensives Our 2023 outlook, initially discussed in our January 6th 2023 Int'l Compass, was for $93 to cap upside on the MSCI ACWI (ACWI-US); this has again proven prescient. Since late-January/early-February we have recommended shifting to defensives, and MSCI ACWI defensive Sectors including Health Care (IXJ-US), Utilities (JXI-US), and Consumer Staples (KXI-US) are now hitting 3-4-month RS highs. With the ACWI-US just now starting to turn down after testing $93, we...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
The independent financial analyst theScreener just slightly lowered the general evaluation of LOBLAW (CA), active in the Food Retailers & Wholesalers industry. As regards its fundamental valuation, the title confirms its rating of 3 out of 4 stars while its market behaviour remains unchanged and can be qualified as defensive. However, a marginally less favourable environment forces theScreener to downgrade slightly the title, which now shows an overall rating of Slightly Positive. As of the anal...
No-moat Loblaw reported mixed second-quarter results, with solid gross margins of 31% (up 20 basis points versus our 2019 estimate of a 60-basis-point decline) and drug retail same-store sales growth of 4% (the strongest in three years and ahead of our 2.5% estimate for 2019), mitigated by weak food retail same-store sales growth of 0.6%, down from a 2% increase last quarter (tracking near our 2019 forecast for 1% growth). We plan to increase our CAD 58 fair value estimate by CAD 2-CAD 3 to acco...
No-moat Loblaw reported mixed second-quarter results, with solid gross margins of 31% (up 20 basis points versus our 2019 estimate of a 60-basis-point decline) and drug retail same-store sales growth of 4% (the strongest in three years and ahead of our 2.5% estimate for 2019), mitigated by weak food retail same-store sales growth of 0.6%, down from a 2% increase last quarter (tracking near our 2019 forecast for 1% growth). We plan to increase our CAD 58 fair value estimate by CAD 2-CAD 3 to acco...
Loblaw is the largest grocery chain in Canada and owns four of the top 10 brands, including Canada's number-one (President's Choice) and number-two (No Name) private-label brands. Between 25%-30% of sales are derived from pharmacy after its 2014 Shoppers Drug Mart acquisition, which should bring ample cross-selling opportunities for its private-label products over the near to medium term. Loblaw is diversified, operating through four different formats and 25 banners, allowing it to target a wide...
We see little reason to materially change our five-year outlook of low-single-digit annual sales growth and gross margins that average near 29% (versus 30.3% in 2018) for no-moat Loblaw, after the company reported first-quarter revenue growth of 3% with total retail gross margins of 29.6% (down 30 basis points). Trading just over 14 times 2019 adjusted earnings, we see shares as overvalued to our existing CAD 57 per share valuation. In our view, the competitive environment remains intense for Lo...
We see little reason to materially change our five-year outlook of low-single-digit annual sales growth and gross margins that average near 29% (versus 30.3% in 2018) for no-moat Loblaw, after the company reported first-quarter revenue growth of 3% with total retail gross margins of 29.6% (down 30 basis points). Trading just over 14 times 2019 adjusted earnings, we see shares as overvalued to our existing CAD 57 per share valuation. In our view, the competitive environment remains intense for L...
We see little reason to materially change our five-year outlook of low-single-digit annual sales growth and gross margins that average near 29% (versus 30.3% in 2018) for no-moat Loblaw, after the company reported first-quarter revenue growth of 3% with total retail gross margins of 29.6% (down 30 basis points). Trading just over 14 times 2019 adjusted earnings, we see shares as overvalued to our existing CAD 57 per share valuation. In our view, the competitive environment remains intense for Lo...
Loblaw is the largest grocery chain in Canada and owns four of the top ten brands, including Canada's number-one (President's Choice) and number-two (No Name) private-label brands. Around 25% of sales are derived from pharmacy after its 2014 Shoppers Drug Mart acquisition, which should bring ample cross-selling opportunities for its private-label products over the near to medium term. Loblaw is diversified, operating through four different formats and 25 banners, allowing it to target a wide ran...
No-moat Loblaw is seeing success with its ongoing and wise e-commerce investments within the intensely competitive grocery market environment. That said, we don't expect a material change to our CAD 55 valuation, as the company's 2018 0.2% sales growth was near our 0.7% forecast. We see shares as overvalued. Loblaw is seeing good progress on building out its e-commerce platform (now around 1% of total sales), and the company believes it is gaining digital share in Canada (unquantified). The comp...
No-moat Loblaw is seeing success with its ongoing and wise e-commerce investments within the intensely competitive grocery market environment. That said, we don't expect a material change to our CAD 55 valuation, as the company's 2018 0.2% sales growth was near our 0.7% forecast. We see shares as overvalued. Loblaw is seeing good progress on building out its e-commerce platform (now around 1% of total sales), and the company believes it is gaining digital share in Canada (unquantified). The com...
No-moat Loblaw is seeing success with its ongoing and wise e-commerce investments within the intensely competitive grocery market environment. That said, we don't expect a material change to our CAD 55 valuation, as the company's 2018 0.2% sales growth was near our 0.7% forecast. We see shares as overvalued. Loblaw is seeing good progress on building out its e-commerce platform (now around 1% of total sales), and the company believes it is gaining digital share in Canada (unquantified). The comp...
Loblaw is the largest grocery chain in Canada and owns four of the top 10 brands, including Canada's number-one (President's Choice) and number-two (no name) private-label brands. In addition, around 25% of sales are derived from pharmacy after its 2014 Shoppers Drug Mart acquisition, which should bring ample cross-selling opportunities for its private-label products over the near to medium term. Loblaw is diversified, operating through four different formats and 25 banners, allowing it to targe...
We don't expect a material change to our CAD 55 valuation, after no-moat Loblaw reported 1.8% sales growth (up 0.2% year to date) versus our 1% lift 2018 forecast. Loblaw continues to face several headwinds (wage inflation, transportation costs, drug price deflation, competition, and tariffs), offset by digital and data initiatives. We see shares as slightly overvalued, trading at 15-16 times our existing 2019 earnings per share estimate. Loblaw's top-line results in its food retail (73% of sale...
We don't expect a material change to our CAD 55 valuation, after no-moat Loblaw reported 1.8% sales growth (up 0.2% year to date) versus our 1% lift 2018 forecast. Loblaw continues to face several headwinds (wage inflation, transportation costs, drug price deflation, competition, and tariffs), offset by digital and data initiatives. We see shares as slightly overvalued, trading at 15-16 times our existing 2019 earnings per share estimate. Loblaw's top-line results in its food retail (73% of sal...
We don't expect a material change to our CAD 55 valuation, after no-moat Loblaw reported 1.8% sales growth (up 0.2% year to date) versus our 1% lift 2018 forecast. Loblaw continues to face several headwinds (wage inflation, transportation costs, drug price deflation, competition, and tariffs), offset by digital and data initiatives. We see shares as slightly overvalued, trading at 15-16 times our existing 2019 earnings per share estimate. Loblaw's top-line results in its food retail (73% of sale...
Loblaw is the largest grocery chain in Canada and owns four of the top 10 brands, including Canada's number-one (President's Choice) and number-two (no name) private-label brands. In addition, around 25% of sales are derived from pharmacy after its 2014 Shoppers Drug Mart acquisition, which should bring ample cross-selling opportunities for its private-label products over the near to medium term. Loblaw is diversified, operating through four different formats and 25 banners, allowing it to targe...
No-moat Loblaw reported a mixed quarter, as it continues to face several headwinds (wage inflation, transportation costs, drug price deflation, competition, and tariffs), offset by traction with its digital initiatives and disposal of low-margin gas operation, which should help profitability. We don't expect a meaningful change to our CAD 62 fair value estimate and plan to keep our respective 2%-3% and 4%-5% average annual sales and earnings per share growth over the next five years intact. We s...
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