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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.
Apr 3, 2024
Phillips 66 Raises Dividend 10%!
Refiner and High Yield Dividend Newsletter portfolio idea Phillips 66 declared on April 3 a quarterly dividend of $1.15 per share on its common stock, reflecting a 10% payout increase. We continue to like shares and will update our dividend report on the company soon.
Apr 3, 2024
PVH’s Weak Guidance Sends Shares Tumbling
On April 1, PVH Corp. reported better than expected fourth quarter results, but the company’s cautious outlook sent the stock tumbling. The Street didn’t like its first quarter guidance that calls for revenue to decline 11% (10% on a constant currency basis) compared to the first quarter of last year, inclusive of the reduction from the sale of its Heritage Brands women’s intimates business. Earnings per share for the first quarter is targeted to only be marginally higher and come in at $2.15 versus $2.14 in the same period of 2023, well below what the Street was looking for.
Apr 2, 2024
Best Buy’s Free Cash Flow Comes Up Short in Covering Dividend
Image Source: Mike Mozart. For fiscal 2024, Best Buy generated ~$1.47 billion in operating cash flow and spent $795 million in capital spending, resulting in free cash flow of $675 million, below what it paid in dividends on the year ($801 million). That didn’t stop Best Buy from upping its dividend 2%, however, and the company continues to buy back stock. Best Buy yields ~4.6% at the time of this writing, but capital spending and volatile operating cash flow are two considerations top of mind for income-oriented investors.
Apr 2, 2024
RTX Ends Year with Record Backlog, Shares Yield ~2.4%
Image Source: RTX. With the Russia-Ukraine war and the Israel-Hamas wars still raging, geopolitical tensions continue to be elevated, playing into the hands of defense contracts such as RTX. With an attractive commercial portfolio to boot, RTX is poised to continue to capitalize on both original equipment and higher-margin after-market commercial aerospace sales, too. We’re fans of RTX, and the firm looks to be moving past a costly recall associated with its Pratt & Whitney geared turbofan engines. Shares yield ~2.4% at this time.
Apr 1, 2024
Colgate-Palmolive Strong Pricing Expansion to Drive Base Business Earnings Expansion
Image Source: Colgate-Palmolive. Looking to the full year 2024, Colgate-Palmolive expects its net sales growth to come in the range of 1%-4%, and that includes a modest headwind from foreign exchange. Organic revenue growth is expected to be in its targeted range of 3%-5% for the year, and management expects gross margin expansion and a double-digit earnings-per-share increase on a GAAP basis. On a base business basis, the company is anticipating a mid- to high-single digit earnings per share increase. All things considered, we liked Colgate-Palmolive’s fourth quarter results, and the firm’s ~2.2% forward estimated dividend yield isn’t too shabby.
Apr 1, 2024
Mondelez Expects Organic Growth to Slow in 2024
Image Source: Mondelez. Looking ahead to 2024, Mondelez expects organic net revenue growth of 3%-5%, high-single-digit adjusted earnings per share on a constant currency basis, and the company is looking to haul in free cash flow greater than $3.5 billion. The organic revenue growth outlook for 2024 is meaningfully below the 14.7% mark it put up in 2023, with management pointing to geopolitical uncertainty as the cause. Nonetheless, we’re huge fans of Mondelez’s collection of valuable brands, and its ~2.4% dividend yield is worth a look.
Mar 31, 2024
Toll Brothers Notes Strong Start to Spring Selling Season
Toll Brothers raised its full-year fiscal 2024 guidance across key metrics, and the company noted that it has seen a "marked increase in demand coinciding with the start of the spring selling season." Though we don’t include any homebuilder in the simulated newsletter portfolios, it’s good to see things are progressing well at Toll Brothers.
Mar 31, 2024
Broadcom a Key Beneficiary of AI Investment
Broadcom recently reported better than expected first-quarter results for fiscal 2024. During the quarter, the company generated cash flow from operations of $4.8 billion and spent just $122 million in capital equipment, translating into tremendous free cash flow generation, well in excess of the $2.4 billion it paid in dividends in the quarter. We see Broadcom as a key beneficiary of AI investment and are keeping a close eye on the firm.
Mar 30, 2024
General Mills Doing a Lot of Things Right, Shares Yield ~3.4%
Image Source: General Mills. General Mills has a long history, and the company’s ESG standards are admirable. Management is committed to the concept that the G in General Mills stands for “Good.” In 2022, for example, 29 million meals were enabled by donations of General Mills food across the globe. Roughly 87% of renewable energy was sourced for its global operations, while 92% of the company’s packaging is recyclable or reusable, as measured by weight. As for people, 50% of its Board of Directors are women, while 33% are ethnically diverse. During 2022, $90 million was contributed to charities by the company and its Foundation worldwide.
Mar 29, 2024
In the News: Inflation, Walgreens, SPACs/IPOs, and Marine Insured Losses
Inflation comes in-line with expectations regarding the critical PCE price index release for February. Walgreens remains in the doghouse following the firm's recent dividend cut. SPACs and IPOs are alive and well with Redditt hitting the market and Trump Media & Technology garnering interest. The tanker Dali collided into Baltimore's Francis Scott Key Bridge, causing loss of life and billions in estimated insured damages.


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