Metro (Symbol-MRU)
It seems like a reasonable buy, walmart does pose a problem.
http://www.financialwisdomforum.org/for ... ebb9c0a72a
http://www.financialwisdomforum.org/for ... ebb9c0a72a
Last edited by Peculiar_Investor on 07 Feb 2014 07:04, edited 1 time in total.
Reason: replace old domain name with www.financialwisdomforum.org to reflect new domain name effective 19-Jan-2014
Reason: replace old domain name with www.financialwisdomforum.org to reflect new domain name effective 19-Jan-2014
thanks for the reply and the link. I tried to find an existing thread on MRU.A on FWF but couldn't. I should try harder next time.
Alta, I have never owned a food retailer in my portfolio and I thought Metro (MRU.A) is interesting. I personally shop at Loeb and and my friends in Montreal love the Metro label. I also love A&P and Sobeys. Not to mention its current valuation (PE < 10, decent EPS and ROE growth). And they seem to have maintained and raised their dividends for many years (mind you at a slow growth).
I had to make a choice between Metro, Empire and Loblaw and I thought Metro is the most attractive.
yielder: I don't think Metro competes with Walmart for the same customer base. Well at least not as much as Loblaw tries to compete with Walmart.
Discretion: I own both Metro and Walmart.
Alta, I have never owned a food retailer in my portfolio and I thought Metro (MRU.A) is interesting. I personally shop at Loeb and and my friends in Montreal love the Metro label. I also love A&P and Sobeys. Not to mention its current valuation (PE < 10, decent EPS and ROE growth). And they seem to have maintained and raised their dividends for many years (mind you at a slow growth).
I had to make a choice between Metro, Empire and Loblaw and I thought Metro is the most attractive.
yielder: I don't think Metro competes with Walmart for the same customer base. Well at least not as much as Loblaw tries to compete with Walmart.
Discretion: I own both Metro and Walmart.
New 52 week low
This stock has been tanking on no news. Does anyone have any idea why?
thanks
thanks
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From their latest news release;
"A more intense competitive environment as well as the training and learning curve associated with our new information systems in Ontario and our new Food Services warehouse weakened our results. We expect that the issues related to our information systems in Ontario and our Food Services warehouse will be behind us in the next few months, and are confident that our results will improve," stated Pierre H. Lessard, President and Chief Executive Officer.
- It sounds like Walmart is beating them up. I wouldn't buy that that blah blah about new information systems affecting their sales. Their sales and margins will likely continue to come under pressure. Could be the beginning of what happened to Loblaw's to some extent.
I don't know much about consumer staples stocks personally, that's just my first impression above.
Mike
"A more intense competitive environment as well as the training and learning curve associated with our new information systems in Ontario and our new Food Services warehouse weakened our results. We expect that the issues related to our information systems in Ontario and our Food Services warehouse will be behind us in the next few months, and are confident that our results will improve," stated Pierre H. Lessard, President and Chief Executive Officer.
- It sounds like Walmart is beating them up. I wouldn't buy that that blah blah about new information systems affecting their sales. Their sales and margins will likely continue to come under pressure. Could be the beginning of what happened to Loblaw's to some extent.
I don't know much about consumer staples stocks personally, that's just my first impression above.
Mike
Research until your head hurts then scream Banzai!!! and charge fearlessly to victory or death!
I traded in and out of this in March 2008 for a 15% gain. The sale price was $24 range. I just looked today and ouch that hurts.
It's $36 range!!!!! Congratulations to those holders in March 2008.
.
Recession fears have really pumped up this one. I'd be more inclined to invest in our energy sector and be patient than go here soon
It's $36 range!!!!! Congratulations to those holders in March 2008.
.
Recession fears have really pumped up this one. I'd be more inclined to invest in our energy sector and be patient than go here soon
I don't own Metro, but it's on my watch list.
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Metro shows limited upside
Posted: April 09, 2009, 1:28 PM by David Pett
Grocery company Metro Inc. is showing a solid return on assets, but there is limited room for upside growth with the stock, according to Vishal Shreedhar, analyst at UBS Investment Research.
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Metro shows limited upside
Posted: April 09, 2009, 1:28 PM by David Pett
Grocery company Metro Inc. is showing a solid return on assets, but there is limited room for upside growth with the stock, according to Vishal Shreedhar, analyst at UBS Investment Research.
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Re: Metro (Symbol-MRU.A)
Does anyone know where I can find the prospectus for Metro 4.98% 15-Oct-2015? I've checked Metro's filings on SEDAR but there doesn't appear to be any prospectus' filed. Are they filed in Quebec? and if so, can the filings be found online?
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Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
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Re: Metro (Symbol-MRU.A)
Has anyone seen any news that would be driving Metro's share price today? Up 7% as I type this on 4x the normal daily volume, in 1/2 the day.
Disclosure: Happy, 'cause I'm long MRU.a, own their bonds as well.
Edit: Added volume information.
Disclosure: Happy, 'cause I'm long MRU.a, own their bonds as well.
Edit: Added volume information.
finiki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Re: Metro (Symbol-MRU.A)
It along with CP ENB & IMG were added to RBCs Focus List.Peculiar_Investor wrote:Has anyone seen any news that would be driving Metro's share price today? Up 7% as I type this on 4x the normal daily volume, in 1/2 the day.
Disclosure: Happy, 'cause I'm long MRU.a, own their bonds as well.
Edit: Added volume information.
"And the days that I keep my gratitude higher than my expectations, well, I have really good days" RW Hubbard
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Re: Metro (Symbol-MRU.A)
OK thanks, that would probably have a positive impact, but I'm surprised at how much.deaddog wrote:It along with CP ENB & IMG were added to RBCs Focus List.Peculiar_Investor wrote:Has anyone seen any news that would be driving Metro's share price today? Up 7% as I type this on 4x the normal daily volume, in 1/2 the day.
Disclosure: Happy, 'cause I'm long MRU.a, own their bonds as well.
Edit: Added volume information.
finiki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Re: Metro (Symbol-MRU.A)
Can I ask why would you want those bonds. The bond after tax return on the 'income stream' is likely the same, or damn near the same, as the common. Only real differences beingPeculiar_Investor wrote:Does anyone know where I can find the prospectus for Metro 4.98% 15-Oct-2015? I've checked Metro's filings on SEDAR but there doesn't appear to be any prospectus' filed. Are they filed in Quebec? and if so, can the filings be found online?
1) you are marginally less likely to get stiffed on the income stream due to your place in line
2) you are at least guaranteed to get par on 1 specific date in the future
Do you think the tradeoff for retained earnings (ie increasing per share equity) is worth it? Not picking on you, I'm just trying to get a sense of the rationale behind FI investment in a quality comapny in an stable, yet not regulated, industry. What's the deal? Can you pick them up at a discount? If not, what am I missing? (no jokes about two bricks, etc, etc )
Show me the incentive and I will show you the outcome
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Re: Metro (Symbol-MRU.A)
The short answer is diversification as part of a bond ladder.FinEcon wrote:Can I ask why would you want those bonds. The bond after tax return on the 'income stream' is likely the same, or damn near the same, as the common. Only real differences beingPeculiar_Investor wrote:Does anyone know where I can find the prospectus for Metro 4.98% 15-Oct-2015? I've checked Metro's filings on SEDAR but there doesn't appear to be any prospectus' filed. Are they filed in Quebec? and if so, can the filings be found online?
1) you are marginally less likely to get stiffed on the income stream due to your place in line
2) you are at least guaranteed to get par on 1 specific date in the future
Do you think the tradeoff for retained earnings (ie increasing per share equity) is worth it? Not picking on you, I'm just trying to get a sense of the rationale behind FI investment in a quality comapny in an stable, yet not regulated, industry. What's the deal? Can you pick them up at a discount? If not, what am I missing? (no jokes about two bricks, etc, etc )
The long answer is that over this part year I've been making more of an effort to understand fixed income investing beyond just buying the index, i.e. XBB. We've also been making an adjustment in our asset allocation. We decided to increase the fixed income portion as part of an investment strategy review that I've been undertaking. We're still in the accumulation phase (late 40's) but are now starting to see the "retirement" banner appearing way off in the distance. I'm a stock picker and have always felt that I didn't have the ability to add value in fixed income, thus the strategy has been to buy the fixed income index in our registered plans. XBB still represents about 70% of our fixed income allocation, but I've been working on the first steps of a DIY strategy, which was creating a ladder of bonds in the 3-10 year maturity range. The Metro bonds were actually one of my earlier purchases, back in June. The specific reason for this purchase was to fill the 2015 maturity slot. The Metro bonds were the highest yielding investment quality bond I could find at TDW. I must admit I bought solely based on yield and having finally gotten around to attempting to read the prospectus. I know that is the wrong order, but I'm still learning.
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Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Re: Metro (Symbol-MRU.A)
Just be cognizant that corporate bonds can throw a curve ball. The recent saga with Bell brings home the trials and tribulations of a blue chip potentially going junk! Private equity predators will be back in a big way once market confidence is back.
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Re: Metro (Symbol-MRU.A)
Kudos to Metro's management for some good governance. METRO INC. | Metro to simplify its share capital in order to have a single class of voting and participating shares
I wonder if this will kickstart some other Canadian companies with dual-class share structures to reconsider their structure and perhaps move to a single class of shares.Under this proposal, all the Class B multiple voting shares, which are held solely by Metro affiliated retailers, will be converted into Class A Subordinate Shares (carrying one vote per share) on a one for one basis. The subordinate shares would then be redesignated as Common Shares and become the only voting and participating shares of the Corporation. This reorganization will be submitted for shareholder approval at the next annual general and special meeting of shareholders, on January 31, 2012.
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Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
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Re: Metro (Symbol-MRU.A)
Shareowners approve , from Metro,
Yahoo and GlobeInvestor not yet updated, but I suspect that will happen before the market opens. Perhaps now Yahoo will keep historical data for Metro, making charting possible.
Added: Confirmed, METRO INC. | METRO announces ticker symbol change
There was no date given as when it takes effect, but I did note this morning that my stock quote download from MSN failed on ca:MRU.a and works for ca:MRU, so I'm guessing it takes effect today.Metro Press Release wrote:At the Annual General Meeting on January 31, 2012, shareholders approved the following share capital
reorganization:
- each issued and outstanding Class B Share carrying 16 votes per share is converted into one single vote Class A Subordinate Share;
- the Class B Shares, along with the rights, privileges, restrictions and conditions attached thereto, are eliminated;
- the Class A Subordinate Shares are redesignated as “Common Shares” and shall constitute the Corporation’s sole class of equity shares carrying one vote per share;
- First Preferred Shares are redesignated as “Preferred Shares”.
Yahoo and GlobeInvestor not yet updated, but I suspect that will happen before the market opens. Perhaps now Yahoo will keep historical data for Metro, making charting possible.
Added: Confirmed, METRO INC. | METRO announces ticker symbol change
Last edited by Peculiar_Investor on 03 Feb 2012 08:21, edited 1 time in total.
Reason: Added confirmation news announcement
Reason: Added confirmation news announcement
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Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
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Re: Metro (Symbol-MRU)
I'm not sure it is ever a good thing when the CFO resigns, METRO INC. | Resignation of the Chief Financial Officer of METRO INC., particularly when it comes out of left field. We'll see you the market reacts tomorrow.
Disclosure: Long MRU
Disclosure: Long MRU
finiki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
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Re: Metro (Symbol-MRU)
TD Waterhouse sent out a new offering notice on Alimentation Couche-Tard that got me wondering why? Found the answer, Metro Enters Into an Agreement to Sell a Portion of Its Alimentation Couche-Tard Holding
Disclosure: Long both MRU and ATD.b and no plans to take any action. Still like both companies as core holdings.block trade bought-deal, a total of 10,000,000 Class B Subordinate Voting Shares of Alimentation Couche-Tard Inc. (TSX:ATD.B) at a price per share of $47.90 (the "Offer Price"), for total gross proceeds of $479,000,000, and representing approximately 7.2% of the outstanding Class B Subordinate Voting Shares of Alimentation Couche-Tard
<snip>
This purchase and sale transaction allows Metro to monetize approximately 48.2% of its aggregate participation in Alimentation Couche-Tard shares, valued at approximately $1 billion prior to the transaction based on the Offer Price. Following this sale of shares, Metro remains the beneficial owner of 10,742,348 Class A Multiple Voting Shares, representing 21.8% of all Class A Multiple Voting Shares currently issued and outstanding, an economic interest of approximately 5.7% and a voting interest of approximately 17.0%.
finiki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
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Re: Metro (Symbol-MRU)
Don't follow either stock, but secondary sales are generally done at prices good for the seller, not the buyer.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Re: Metro (Symbol-MRU)
Metro is a Canadian grocery chain who's common shares I've happily held for a few years now with a history of increasing dividends each of those years.
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How Couche-Tard helped Metro's stock take flight
NICOLAS VAN PRAET
MONTREAL — The Globe and Mail
Published Wednesday, Dec. 10 2014, 5:13 PM EST
Last updated Wednesday, Dec. 10 2014, 7:32 PM EST
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How Couche-Tard helped Metro's stock take flight
NICOLAS VAN PRAET
MONTREAL — The Globe and Mail
Published Wednesday, Dec. 10 2014, 5:13 PM EST
Last updated Wednesday, Dec. 10 2014, 7:32 PM EST
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Re: Metro (Symbol-MRU)
The dividend is fairly low, but I couldn't be happier with MRU. I picked it up last year after Loblaws bought my Shoppers shares, but I didn't want to own Loblaws. MRU is up 40% since then.Taggart wrote:Metro is a Canadian grocery chain who's common shares I've happily held for a few years now with a history of increasing dividends each of those years.
ltr
Re: Metro (Symbol-MRU)
Loblaws has done even better YTD.like_to_retire wrote:The dividend is fairly low, but I couldn't be happier with MRU. I picked it up last year after Loblaws bought my Shoppers shares, but I didn't want to own Loblaws. MRU is up 40% since then.
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“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
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Re: Metro (Symbol-MRU)
I used to own MRU. I did very well with it. That said, despite it's strong track record as an investment longer term -- long before I got on board -- I wasn't overly impressed with it as an operator at the retail level. IOW, it wasn't my favourite destination for groceries; far from it. I then began to realise that the best thing about MRU was its stake in ATD.b. ISTM that was largely responsible for its great investment performance more so than its skill as a grocer from a consumers perspective. They weren't winning any points from me for their high prices and continual cost cutting -- as in reducing product selection, quality and service. Ultimately, I decided that rather than tie my fortunes to the "ugly" cousin, I would be much better served going forward to throw my affections towards the fairer "sibling" and with that I exited MRU and entered ATD.b. Since that epiphany, MRU has returned about 100%. On the other hand, ATD.b has returned near 400%. With ATD.b accounting for ~20% of the market cap of MRU even after selling half their investment in 2013, one has to wonder just what MRU did to earn any sort of return during that period other than being a shareholder of ATD.b?
I'm not suggesting that will continue going forward, but it is a fair question with respect to MRU's prospects going forward. Just what are they going to do to drive growth. In our market, they are rapidly falling behind L, EMP and WMT in terms of investing in their retail facilities. They just don't have the product offerings that their competitors are putting in their new super-store format locations and they certainly aren't setting the bar when it comes to competing on price, at least in a good way. They have even indicated in press releases that they don't feel compelled to sell their investment in ATD.b as they don't have an immediate need for capital, so just what are they going to do in order to ship up their aging Ontario retail presence? Maybe this is simply a case of good investment, mediocre business?
I'm not suggesting that will continue going forward, but it is a fair question with respect to MRU's prospects going forward. Just what are they going to do to drive growth. In our market, they are rapidly falling behind L, EMP and WMT in terms of investing in their retail facilities. They just don't have the product offerings that their competitors are putting in their new super-store format locations and they certainly aren't setting the bar when it comes to competing on price, at least in a good way. They have even indicated in press releases that they don't feel compelled to sell their investment in ATD.b as they don't have an immediate need for capital, so just what are they going to do in order to ship up their aging Ontario retail presence? Maybe this is simply a case of good investment, mediocre business?
"On what principle is it, that when we see nothing but improvement behind us, we are to expect nothing but deterioration before us?"
Thomas Babington Macaulay in 1830
Thomas Babington Macaulay in 1830
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Re: Metro (Symbol-MRU)
I totally agree. I'm not fussed about it as a grocery store.scomac wrote:I wasn't overly impressed with it as an operator at the retail level. IOW, it wasn't my favourite destination for groceries; far from it.
I was going to switch to Loblaws for a Consumer Staples after I lost Shoppers, but I was wary since the effect of the acquisition of Shoppers was an unknown and so decided on Metro.
You guys know better than me, but the Metro fundamentals looked fine I thought. If I look at Thomson Reuters fundamentals report and show a snippet of it in a comparison to its peers it looks OK. Reuters gives it a rare 10 overall rating. It beat Loblaws over the last year, so it ain't that bad.
ltr
Re: Metro (Symbol-MRU)
I'm a shareholder of Metro and I'm also not impressed with it as a grocery store. I find the quality of Metro's stores varies quite a bit. In general I prefer to do my shopping at other grocery stores. One thing that did impress me about Metro was that they were a leader in data mining of their customer information based on their AirMiles relationship. I used to receive Metro discount coupons from AirMiles based on my past purchase preferences. In some cases those coupons enticed me to shop at Metro. I can't recall receiving any coupons in the past few years, so maybe Metro has discontinued that program.