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Oct 5, 2025
Costco’s Shares Are Not Cheap
Image Source: Costco. In the fourth quarter of fiscal 2025, Costco’s gross margin expanded 13 basis points, while SG&A as a percentage of sales dropped 17 basis points, bolstering operating income. Net income for the fourth quarter was $2.61 billion, $5.87 per diluted share, seven cents better than expected and compared to $2.354 billion, $5.29 per diluted share in last year’s quarter. Long-term debt totaled $5.7 billion at the end of the quarter, while cash and short-term investments were $15.3 billion. Merchandise inventories fell to $18.12 billion from $18.65 billion at the end of last year’s quarter. We like the fundamental momentum at Costco and its outlook remains bright, but its valuation is quite stretched at the moment. We remain on the sidelines. Oct 3, 2025
Dividend Increases/Decreases for the Week of October 3
Let's take a look at firms raising/lowering their dividends this week. Sep 8, 2025
Albemarle Targets Positive Free Cash Flow for 2025
Image Source: TradingView. For the first half of 2025, Albemarle’s cash flow from operations increased $73 million to $538 million, and as management noted, the company expects to achieve positive free cash flow for the full year 2025 assuming current lithium market pricing persists. Albemarle reduced its capital expenditure outlook to the range of $650-$700 million. Assuming $9/kg LCE average lithium market price for 2025, net sales is targeted in the range of $4.9-$5.2 billion, with adjusted EBITDA in the range of $0.8-$1 billion. Albemarle exited the quarter with estimated liquidity of approximately $3.4 billion. We like Albemarle’s upside potential from here, as operations remain depressed from low lithium pricing. The company remains an idea in the ESG Newsletter portfolio. Aug 22, 2025
Dividend Increases/Decreases for the Week of August 22
Let's take a look at firms raising/lowering their dividends this week. Aug 15, 2025
Dividend Increases/Decreases for the Week of August 15
Let's take a look at firms raising/lowering their dividends this week. Aug 8, 2025
Dividend Increases/Decreases for the Week of August 8
Let's take a look at firms raising/lowering their dividends this week. Aug 2, 2025
Amazon’s Third Quarter Operating Income Guidance Conservative
Image Source: TradingView. Though Amazon’s operating cash flow has increased for the trailing twelve month period, free cash flow languished to $18.2 billion compared with $53 billion for the trailing twelve months ended June 30. Similar to its Magnificent 7 peers, Amazon is spending aggressively to capitalize on AI demand and to further grow its AWS business at a hefty pace. There were some soft spots in the quarter related to its third-quarter operating income guidance and free cash flow performance, but we expect Amazon to once again beat the range of its operating income guidance when it reports third quarter results. Free cash flow, however, will continue to be weighed down by robust capital spending. Aug 1, 2025
Dividend Increases/Decreases for the Week of August 1
Let's take a look at firms raising/lowering their dividends this week. Jul 25, 2025
Dividend Increases/Decreases for the Week of July 25
Let's take a look at firms raising/lowering their dividends this week.
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Image Source: TradingView. During the first quarter of fiscal 2026, Nike returned $714 million to shareholders, consisting of dividends of $591 million, up 6% from the prior year, and share repurchases of $123 million. Nike has repurchased 124.4 million shares under its $18 billion program approved by the board in June 2022 for a total of approximately $12.1 billion. At the end of the quarter, inventories at Nike were $8.1 billion, down 2% compared to the prior year, while cash and short-term investments were $8.6 billion, down approximately $1.7 billion from last year. Nike continues to face pressure in its footwear division, though apparel sales were strong in the quarter. Footwear revenue fell 12% on a constant currency basis in China. Looking to the fiscal second quarter, revenues are expected to be down low single digits, while gross margins are expected to fall 300-375 basis points, including a net headwind of 175 basis points from tariffs.