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 [...]
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 [...]
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 [...]
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 [...]
Despite increased competition Nike, Inc. (NKE) stands to benefit from the growing global middle class. I view NKE as an attractive long-term investment in that it consistently generates strong Free Cash Flow and has a Balance Sheet which reflects minimal Intangible Assets and Goodwill. Summary NKE faces stiff competition but it has demonstrated that [...]
FedEx Corporation's (FDX) share price has been under pressure as it faces headwinds resulting from the current trade war. I view FDX as a leader in the Air Delivery and Freight Services industry. Its current attractive valuation presents long-term investors with a window of opportunity to invest in a high quality company which should benefit [...]
United Technologies Corporation (UTX) and Raytheon Company (RTN) have recently announced a proposed merger of equals. Regulatory approvals are still required but because the companies are complementary in nature with less than 1% overlap in sales, management is optimistic the transaction can close in the first half of 2020. Summary United Technologies Corporation and Raytheon [...]
The J. M. Smucker Company (SJM) released Q4 and FY2019 results and FY2020 guidance on June 6, 2019. Although SJM is slowly transforming its product portfolio to better match consumer preferences it does not possess any major competitive advantages and faces significant competition. I currently view shares as richly valued and intend to once [...]
Waste Management, Inc. (WM) is the largest industry participant in the North American waste management industry. WM has recently announced its intent to acquire Advanced Disposal for $4.9B which would widen the gap between WM and the #2 and #3 industry participants by market cap (Republic Services and Waste Connections). I currently view WM as [...]
Union Pacific Corporation (UNP) is North America's largest publicly traded Class 1 railroad. Barriers to entry in this industry are extremely high. The G55+0 initiative and Unified Plan 2020 have been implemented view the objective of being able to achieve a targeted 55% Operating Ratio within the next few years. I currently view UNP as [...]
