Monthly Archives: July 2019

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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 [...]

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 [...]

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

Alimentation Couche-Tard Inc. – Patience! Patience!

Alimentation Couche-Tard (TSX: ATD.b) is the 2nd largest participant in the highly fragmented convenience store industry behind Japan's Seven & I Holdings Co. (7-11 chain). ATD.b will appeal to investors seeking growth versus dividend income. Summary ATD is the #2 player in the convenience store sector on a global basis behind Japan’s Seven & I [...]

By |July 10th, 2019|General Investing|Comments Off on Alimentation Couche-Tard Inc. – Patience! Patience!

PepsiCo, Inc. Stock Analysis – Just ‘Plods’ Along

PepsiCo, Inc. (PEP) has just released Q2 2019 results and reaffirmed FY2019 guidance. In its July 9, 2019 Earnings Release, PEP's Chairman and CEO indicated efforts are being made to make PEP a faster, stronger and better company by building new capabilities, strengthening brands, adding capacity to grow and transforming the culture. I view PEP [...]

By |July 9th, 2019|General Investing|Comments Off on PepsiCo, Inc. Stock Analysis – Just ‘Plods’ Along

Brookfield Infrastructure Partners LP – An Infrastructure Investment Opportunity

Brookfield Asset Management Inc. (BAM and BAM-a.TO)  has demonstrated its ability to attract funding from sophisticated institutional investors and has stated it wants to grow the number of client relationships from 630 in 2019 to ~1000 by 2023. Its infrastructure investment arm, Brookfield Infrastructure Partners L.P. (BIP and BIP-un.TO) which invests in operating assets across [...]

By |July 5th, 2019|General Investing|Comments Off on Brookfield Infrastructure Partners LP – An Infrastructure Investment Opportunity

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