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FFJ Portfolio – July 2019 Report

This is my July 2019 FFJ Portfolio update. The portfolio was created in January 2017 for the purpose of demonstrating how investing in high quality companies with competitive advantages and with a record of consistently increasing dividends can assist investors in reaching their long-term financial goals without the need to speculate or to chase dividend [...]

By |July 31st, 2019|General Investing|Comments Off on FFJ Portfolio – July 2019 Report

AT&T Inc. – Why I Own Shares for The Long-Term

AT&T Inc. released Q2 2019 and YTD 2019 results July 24, 2019. It has generated ~$29B in free cash flow over the last 12 months and full-year free cash flow guidance is now ~$28B. In addition to reducing net debt by ~$6.8B in Q2, T has repaid ~$18B of debt subsequent to the June 2018 [...]

By |July 28th, 2019|General Investing|Comments Off on AT&T Inc. – Why I Own Shares for The Long-Term

W.W. Grainger, Inc. – Is a ~16% Share Price Increase in 2 Weeks Reasonable?

W.W. Grainger, Inc. released Q2 2019 results and FY2019 guidance on July 24, 2019. Despite softer demand and lowered Sales guidance, management has reiterated Gross Profit Margin, Operating Margin, and adjusted diluted EPS guidance. Summary GWW reported Q2 results on July 24th. Gross and Operating Margins and adjusted EPS guidance have been maintained but sales [...]

By |July 26th, 2019|General Investing|Comments Off on W.W. Grainger, Inc. – Is a ~16% Share Price Increase in 2 Weeks Reasonable?

Canadian National Railway – On the Right Track

I view the Canadian National Railway Company (CNR) as a core long-term holding. This article looks at CNR's valuation based on Q2 2019 results released July 23, 2019 and FY2019 guidance provided at the June 3 - 4 2019 Investor Day. Summary I view CNR as the premier Class 1 North American railroad in that [...]

By |July 24th, 2019|General Investing|Comments Off on Canadian National Railway – On the Right Track

Stanley Black & Decker – I Am Passing On Acquiring More Shares in This Dividend King

Stanley Black & Decker's (SWK) share price has appreciated over 30% since I recommended acquiring shares in my January 22nd article. With the release of Q2 results and FY2019 guidance I provide my opinion on SWK's current valuation. Summary On July 23rd SWK reported Q2 2019 results in which $2.66 in Non-GAAP EPS beat estimates [...]

By |July 23rd, 2019|General Investing|Comments Off on Stanley Black & Decker – I Am Passing On Acquiring More Shares in This Dividend King

Fastenal Company – Waiting for a Better Entry Level

  Fastenal Company (FAST) released Q2 2019 results July 11, 2019 in which management indicated that while activity has clearly slowed and there is no panic in the market, sentiment has become more cautious. Summary A $9,000 investment in FAST on the date of its August 20, 1987 IPO would now be worth in excess [...]

By |July 21st, 2019|General Investing|Comments Off on Fastenal Company – Waiting for a Better Entry Level

Agilent Technologies, Inc. – Fairly Valued But I Will Wait for a Better Entry Point

  Agilent Technologies, Inc. (A) is a global leader in life sciences, diagnostics and applied chemical markets, providing application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow. In mid-May, Agilent released Q2 results in which FY2019 Revenue guidance was lowered but Non-GAAP diluted EPS guidance remained unchanged at $3.03 [...]

By |July 20th, 2019|General Investing|Comments Off on Agilent Technologies, Inc. – Fairly Valued But I Will Wait for a Better Entry Point

Genuine Parts Company – Fairly Valued Dividend King

  Genuine Parts Company (GPC) released Q2 2019 results on July 18, 2019. Guidance for FY2019 has been lowered and corrective action is being taken to improve results. With the ~$7 pullback in GPC's share price following the release of results on July 18th, I now view GPC as fairly valued despite lower earnings expectations. [...]

By |July 19th, 2019|General Investing|Comments Off on Genuine Parts Company – Fairly Valued Dividend King

Johnson & Johnson – The Potential ‘Talc’ and ‘Opioid’ Liabilities Are Real But Overblown

  Johnson & Johnson (JNJ) released Q2 2019 results on July 16, 2019. Although there is significant overhang from the 'talc' and 'opioid' legal issues I anticipate that any penalties JNJ does incur will be far less than those sought by the plaintiffs. I view JNJ as being reasonably valued and would acquire additional shares [...]

By |July 17th, 2019|General Investing|Comments Off on Johnson & Johnson – The Potential ‘Talc’ and ‘Opioid’ Liabilities Are Real But Overblown

The Goldman Sachs Group, Inc. – Friend of the Long-Term Investor

The Goldman Sachs Group, Inc. (GS) released Q2 2019 results on July 16, 2019. It also announced on June 27th an increase in its quarterly dividend from $0.85 to $1.25 effective with the Q3 dividend payment and a $7B share repurchase program beginning Q3 2019 and ending Q2 2020. I am bullish GS and the [...]

By |July 16th, 2019|General Investing|Comments Off on The Goldman Sachs Group, Inc. – Friend of the Long-Term Investor