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Fundamental data is updated weekly, as of the prior weekend. Please download the Full Report and Dividend Report for any changes.
Feb 27, 2023
Our Reports on Stocks in the Oil and Gas Complex Industry
Our reports on stocks in the Oil and Gas Complex industry can be found in this article. Reports include BKR, HAL, SLB, BP, CVX, COP, XOM, SHEL, TTE, CTRA, EOG, OXY, PXD, ENB, ET, EPD, MMP, KMI, PSX.
Feb 24, 2023
Dividend Increases/Decreases for the Week of February 24
Let's take a look at firms raising/lowering their dividends this week.
Feb 19, 2023
Our Reports on Stocks in the Recession Resistant Industry
Image Source: Mike Mozart. Our reports on stocks in the Food Retailing industry can be found in this article. Reports include BUD, CL, CLX, CPB, COST, FDP, GIS, HRL, K, KDP, KHC, KMB, KO, KR, MDLZ, MKC, MO, PEP, PG, PM, SJM, TAP, TGT, TSN, WMT, CHD, SYY, ADM, LANC, CASY.
Feb 13, 2023
The Dividend Cushion Ratio Warned of Risk to V.F. Corp’s Dividend
Image: The Dividend Cushion ratio is one of the most powerful financial tools an income or dividend growth investor can use in conjunction with qualitative dividend analysis. The ratio is one-of-a-kind in that it is both free-cash-flow based and forward looking. Since its creation in 2012, the Dividend Cushion ratio has forewarned readers of approximately 50 dividend cuts. We estimate its efficacy at ~90%.V.F. Corp cut its quarterly dividend by more than 40% on February 7, to a quarterly rate of $0.30 per share from $0.51 per share previously. The cut is yet further evidence of the importance of paying attention to the cash-based sources of intrinsic value--net cash on the balance sheet and future expected free cash flow--when it comes to evaluating dividend health. Please be sure to pay attention to the Dividend Cushion ratios of firms that you follow. Even if you are not a dividend growth or income investor, the Dividend Cushion ratio provides an assessment of the cash-based sources of intrinsic value relative to future potential outlays in the form of the dividend.
Feb 8, 2023
Net-Cash-Rich Vertex Pharma’s Lucrative Cystic Fibrosis Franchise Continues to Power Performance
Image Source: Vertex Pharma. We’re huge fans of Vertex Pharma. We love its net-cash-rich balance sheet, strong free-cash-flow generating capacity and lucrative and established CF franchise. We also like its long-term potential in CRISPR gene-editing technology and pain management alternatives to opioids and believe the company has other opportunities that may eventually reach commercialization across its pipeline. Our fair value estimate of Vertex Pharma stands at $320 per share, and we continue like the company as our primary biotech exposure in the Best Ideas Newsletter portfolio.
Jan 22, 2023
What So-Called Statistical “Value Premium?”
Image: The iShares Russell 1000 Growth ETF has outperformed the iShares Russell 1000 Value ETF by nearly 250 percentage points over the past two decades. Image Source: TradingView. This article shows that there may be hundreds, if not thousands, of ways to measure “value” versus “growth,” and different time horizons can be used to tell different stories about “value” versus “growth," but we think a 20-year horizon using the IWD versus the IWF is a great example of why relying blindly on empirical, evidence-based analysis within backtests employing realized historical data can be quite painful. Whatever one believes, however, the intelligent investor shouldn’t be surprised by any of the findings in this article. In the field of finance, there’s just not much substance behind empirical, evidence-based, backtests that are based solely on realized historical data, in our view, when markets themselves are in (large) part a function of future expectations of “coupons,” as Warren Buffett explains.
Jan 15, 2023
Our Reports on Stocks in the Discretionary Spending Industry
Image Source: Mike Mozart. Our reports on stocks in the Discretionary Spending industry can be found in this article: BBY, CBRL, CMG, DIS, DG, DLTR, DPZ, EL, F, GM, HAS, HD, LOW, MCD, NFLX, NKE, SBUX, TSLA, YUM, DKS, TJX, ROST, WHR, KMX, AZO, RL, ULTA, LEG, GPC, VFC, CTAS, WSM.
Jan 15, 2023
Our Reports on Stocks in the Telecom Services Industry
Image Source: Mike Mozart.  Our reports on stocks in the Telecom Services industry can be found in this article. Reports include CMCSA, DISH, T, TMUS, VZ, SBAC, AMT, CCI, PARA. The telecom industry is characterized by rapid technological change, intense competition and pricing pressures. The mature wireline segment remains under attack from cable/wireless products. Mobile technology enhancements such as the iPhone continue to attract new wireless subscribers in less saturated markets, but this has not lessened the intensity of competition. Industry constituents continue to pursue acquisitions in order to reduce bloated cost structures and achieve synergies. Average revenue per subscriber and churn rates should be monitored closely. We’re neutral on the structure of the group.
Jan 9, 2023
Exact Sciences: Fast-Growing Molecular Diagnostic Company But Huge Risks
Image Source: Exact Sciences. Though Exact Sciences is experiencing strong top-line momentum in its business at the moment given its recent upward guidance revision for 2022, its net losses remain huge while its net debt position remains large. We also can’t forget that Exact Sciences recently lowered its full-year 2022 guidance in August, so visibility behind its operations is also somewhat limited, in our view. That said, Exact Sciences’ stool-based Cologuard test has a massive long-term market opportunity, but competition from procedure-based detection technologies and other potential new entrants looking to develop their own stool-based colorectal cancer tests means its long-run outlook is just too murky for us to get excited about shares. Regardless, Exact Sciences' equity has soared more than 20% to start 2023, and we’ve taken notice of the speculative pop.
Jan 5, 2023
The Fed ‘Can’t Stop, Won’t Stop’ Until Labor Market Feels More Pain
Image: Prices for private label brands at Aldi are considerably lower than those of branded products. The consumer staples sector, however, remains fully-priced with a 21+ forward earnings multiple, and many constituents hold large net debt positions. We believe the sticking point for the Fed is not groceries or gasoline prices, but rather the labor markets, which remain very strong, despite layoffs. Image Source: Valuentum. We maintain our view that markets will remain challenged for at least the first quarter of 2023, and we expect the S&P 500 to bottom around 3,400 based purely on a technical evaluation of the ongoing downtrend. The labor market remains too strong for the Fed to stop rate hikes, as the primary concern for the Fed is not what inflation will do this year, but rather whether it will spike again in 2024. To truly stomp out inflation, the Fed needs to witness further weakening in the labor markets, as consumers have found ways to trade down to offset grocery inflation and as gas prices at the pump ease. We’re never happy to hear of layoffs, but an unemployment rate of 4.5%-5% may be the range required for the Fed to stop hiking, in our view. The last thing the Fed wants is to stop hiking too early, only for inflation to come roaring back in the quarters that follow the pause. The Fed is not thinking about year-over-year inflation numbers for 2023, in our view, but rather policies that will ensure that inflation rates of the past 12-18 months do not return in 2024-2025. They are playing the long-term game.



The High Yield Dividend Newsletter, Best Ideas Newsletter, Dividend Growth Newsletter, Nelson Exclusive publication, and any reports, articles and content found on this website are for information purposes only and should not be considered a solicitation to buy or sell any security. The sources of the data used on this website are believed by Valuentum to be reliable, but the data’s accuracy, completeness or interpretation cannot be guaranteed. Valuentum is not responsible for any errors or omissions or for results obtained from the use of its newsletters, reports, commentary, or publications and accepts no liability for how readers may choose to utilize the content. Valuentum is not a money manager, is not a registered investment advisor and does not offer brokerage or investment banking services. Valuentum, its employees, and affiliates may have long, short or derivative positions in the stock or stocks mentioned on this site.