Opinions
James Hodgins
Corby Spirit and Wine (B)
CSW.B-T
COMMENT
Dec 22, 2016
$20.125
Stock price when the opinion was issued
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Have had some ownership machinations and with that they have gained some brands and lost some brands. Not sure they got the best end of this. Would look more at a Diageo (DEO-N), which has the premier brands in the world and also very shareholder friendly. They buy back shares and keep increasing their dividends.
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He doesn’t know the seasonality on this, but the technicals show that it has been in an upward trend for quite a period of time. During the last little while, it has been in a trading range between around $19 and $22. It is not unusual for a lot of stocks in the consumer staples sector to have this kind of a pattern. You want to be a buyer of the stock on any kind of weakness close to support, which in this case is around $20. This is for the possibility of a break out above the $22 level. The stock is in an upward trend which is positive. Stick with the stock as long as it stays in an upward trend.
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This has been a core holding for his fund since inception. They have a very nice tendency to not only pay a regular dividend, but in years when they don’t make growth acquisitions, they typically also make a very nice special dividend at year-end. They made a nice growth acquisition this year. With their relationship with Pernod, they have very nice distributorship to the US and the UK.