MKC

Dividend Increases for the Week Ending November 28

by

Below we provide a list of firms that raised their dividends during the week ending November 28. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Becton, Dickinson (BDX): now $0.60 per share quarterly dividend, was $0.545. Capital City Bank (CCBG): now $0.03 per share quarterly dividend, was $0.02. Glacier Bancorp (GBCI): now $0.18 per share quarterly dividend, was $0.17. Hormel Foods (HRL): now $0.25 per share quarterly dividend, was $0.20. McCormick & Company (MKC): now $0.40 per share quarterly dividend, was $0.37. Merck (MRK): now $0.45 per share quarterly dividend, was … Read more

The Dividend Dilemma

by

One of the core tenets of the Valuentum process not only rests in the all-important price vs. value consideration (see Valuentum’s Brian Nelson talk about that here), but also in “letting winners run.” At first read, these two items appear to be at odds with each other. For example, we preach about getting stocks at a bargain, but yet, we don’t sell holdings when they start to move beyond our estimate of their fair value. What gives? At the Valuentum core, we prefer an entry point that corresponds to the time when shares have substantial valuation and pricing support (i.e. they have high Valuentum Buying Index ratings), and we prefer an exit point when shares have little valuation and pricing … Read more

Valuentum Economic Castleâ„¢ Rating Update

by

Read: Keeping the Horse Before the Cart: Valuentum’s Economic Castle™ Rating The Economic Castle Focuses on the Magnitude of Economic Value Creation The Valuentum Economic Castle™ rating is an enhancement of the competitive advantage framework (commonly known as economic moat analysis) that has become widespread and ubiquitous within the investing world. Whereas an economic moat framework evaluates a firm on the basis of the sustainability and durability of its competitive advantages, Valuentum’s Economic Castle™ rating evaluates a firm on the basis of the firm’s future economic profit spread (return on invested capital less its weighted average cost of capital). The companies with the strongest Valuentum Economic Castle™ ratings are poised to generate the most economic value for shareholders in the … Read more

Dividend Increases for the Week Ending November 29

by

Below we provide a list of firms that raised their dividends during the week ending November 29. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports, please click here (or use our ‘Symbol’ search box in our website header). Firms Raising Their Dividends This Week Becton, Dickinson and Company (BDX): now $0.545 per share quarterly dividend, was $0.495. CBL & Associates Properties (CBL): now $0.245 per share quarterly dividend, was $0.23. Donaldson Co (DCI): now $0.14 per share quarterly dividend, now $0.13. Glacier Bancorp (GBCI): now $0.16 per share quarterly dividend, was $0.15. Hormel Foods (HRL): now $0.20 per share quarterly dividend, was $0.17. McCormick & Company … Read more

Hormel’s Guidance Cut Isn’t Drastic

by

Pork producer Hormel (click ticker for report: ) announced early Tuesday morning that the company has lowered its fiscal year 2013 earnings outlook to $1.88-$1.96 per share from $1.93-$2.03 per share. Shares are responding negatively to the news, but remain up 26% year-to-date. A 5-cent per share reduction in the annual earnings outlook will not have a material impact on our fair value estimate. While shares sold off aggressively Tuesday morning, we think it had less to do with a change in underlying fundamentals, and more to do with some profit taking. In fact, shares of the pork producer have traded at or above the high end of our fair value range for the past few months. The acquisition of … Read more

McCormick Kicks Off 2013 With Strong Cash Flow

by

Spices and flavor giant McCormick (click ticker for report: ) started fiscal year 2013 with a solid first quarter. Revenue increased 3% year-over-year to $934 million, easily exceeding consensus estimates. Earnings per share rose 4% year-over-year to $0.57 per share, in-line with consensus expectations. We were pleased to see a strong surge in operating cash flow, which jumped 39% year-over-year to $32 million. McCormick’s first quarter showed a remarkable divergence between its consumer and industrial businesses. The consumer business segment saw sales jump 7% driven by a 14% sales increase in emerging markets, as well as continued strength in the US and Europe. We think McCormick’s spices provide consumers with a relatively inexpensive way to improve tastes, which is important to … Read more

The Dividend Cushion Meets the Dividend Aristocrats

by

By Brian Nelson, CFA At Valuentum, we know that forward-looking dividend analysis and opinion is all that matters for most income investors. That’s why we’ve provided the following screen of key constituents in the SPDR S&P Dividend ETF (SDY) and their forward-looking Dividend Cushion ratio. After all, the past is just the past. The future is what counts. The SPDR S&P Dividend ETF is a fund that tracks the the S&P High Yield Dividend Aristocrats Index, which is “designed to measure the performance of the highest dividend-yielding S&P Composite 1500 Index constituents that have followed a managed-dividends policy of consistently increasing dividends every year for at least 20 consecutive years.” To access either the 16-page stock report or the dividend report of each firm in the following modified ‘Aristocrats’ … Read more

There Is Milk At The Store

by

This article first appeared in the September edition of the High Yield Dividend Newsletter. For more information about this publication, please see here. “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” — Winston Churchill By Brian Nelson, CFA Very few of us could have imagined that we’d witness the bull market that began on that fateful day in March 2009 that might very well mark a generational low. In 2009, major investment banks around the globe were struggling to survive, and the fallout in the mortgage markets left the banks holding paper that nobody wanted to own, let alone buy. The global financial system … Read more

Dividend Increases/Decreases for the Week of December 2

by

Below we provide a list of firms that raised their dividends during the week ending December 2. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week                AES (AES): now $0.1659 per share quarterly dividend, was $0.1580. Amkor Technology (AMKR): now $0.075 per share quarterly dividend, was $0.050. Bank of Montreal (BMO): now CAD 1.43 per share quarterly dividend, was CAD 1.39. Berry Global Group (BERY): now $0.25 per share quarterly dividend. BRP (DOOO): now $0.1178 per share quarterly dividend, was $0.1153. Canadian Imperial Bank (CM): now CAD 0.85 per share quarterly … Read more

Nelson: The 16 Most Important Steps To Understand The Stock Market

by

A previous version of this article appeared on our website July 21, 2013. Refreshed and updated throughout, as of July 2018. By Brian Nelson, CFA After earning my MBA at the University of Chicago Booth School of Business and training stock and credit analysts from large organizations over the past decade or so, I have heard just about every question (though I admit I am still surprised by many things and remain a very humble student of the markets). I’ve also spent years perfecting the discounted cash flow process for large research organizations such as Morningstar and studied under one of the most famed aggressive growth investors of all time, Richard Driehaus. My knowledge runs the gamut from value through … Read more