Kingfisher Share Discussion Threads

[essentialinvestor] 25/7/2017 11:13

Comments from one of the BOE governor's warning on UK consumer credit laxity.

Added two small lots this AM, might have a couple more and that's it.
Small position only.

[sr2day] 25/7/2017 10:13

shorters messing about with this.

[essentialinvestor] 24/7/2017 10:33

A small amount under 299.

Expected market to correct during May/June which did not happen,
we are overdue some wider market downside imv.

[ih_375993] 21/7/2017 17:22

From what i can see, up to 10% of shares between now and Sept 2018-at a 'set price' for each tranche (which seem to be for £40-60m each quarter.

[goingsolo] 21/7/2017 17:13

Another share repurchase between now and September-maximum amount allocated to the programme is £60,000,000. Anyone know the size of total programme and where we are up to on it?

[essentialinvestor] 21/7/2017 15:09

Added back another small amount.

[essentialinvestor] 21/7/2017 13:04

There is a difference between having an aim and achieving it.
Noticed it in the HWDN statement and thought it was worth a mention.

[ih_375993] 21/7/2017 12:51

If Howden (and new CEO) are so confident in the principles that underpin Screwfix then I would expect to see great results from the growing Screwfix within the KGF business. It has an head start and far more buying power. Near me supersize B&Q and a few smaller screwfix outlets seem to have it pretty much sewn up.

[essentialinvestor] 21/7/2017 10:59

The new Howden CEO is the ex head of Screwfix.

Notice on yesterday's statement HWDN say they intend to increase
the range of products supplied by their depots.

Attempting to take some share from Screwfix imv.

[essentialinvestor] 20/7/2017 19:59

There are a myriad of factors at play in the daily share price,
so would not want to overstate the role of recent buy backs.

[ih_375993] 20/7/2017 19:17

Would the effect not be pretty neutral as long as the price is fair value ? Would benefit will come in time as it would make a 10% increase in dividends cost neutral too?

[essentialinvestor] 20/7/2017 16:42

The recent buy backs look very approx 7-10% of daily volumes,
so would imagine the share price may be lower if they had not taken place.
Yesterday 1,000,000 were cancelled.

Bought back a few at 302.85.

[essentialinvestor] 20/7/2017 13:51

Mentioned the KGF balance sheet many times over the years.
Buying/selling a few has worked nicely over the past few weeks,
not always possible to do.

If I sell and the share price spikes up it does not pay off.

[justiceforthemany] 20/7/2017 13:17

Share buyback completes tomorrow so I would expect the rise to continue. It was in the company's interest for the share price to be suppressed as they buy-back shares.

In terms of Howden the kitchen supplier is a tiddler compared to Kingfisher with approx the third of the market cap.

Not sure why you are selling Kingfisher with the share price at multi-year lows and as mentioned above (see earlier post) an incredibly strong balance sheet?

[essentialinvestor] 20/7/2017 12:07

I've just sold a few, not sure whether that's a good{d call or not.

[ih_375993] 20/7/2017 11:46

Share repurchase: is there a quick way to know where this is up to?

[ed 123] 20/7/2017 10:27

Ta, EI. :-)

[essentialinvestor] 20/7/2017 09:41

Read across from HWDN half year results.

[justiceforthemany] 19/7/2017 12:47

The book value/NAV here is 318p
Kingfisher is trading at a discount to book value.
That is almost unheard of.

Most shares trade on 4,5,6x book value

It has an ultra-low debt:equity ratio of 0.21

An equity ratio of 2.96
Cash of £800M

I have not come across a more solid balance sheet.

P/E also low at 11 and dividend cover of 2.5x

If you are shorting this please tell us why and justify your reasons!!

[essentialinvestor] 19/7/2017 12:35

Ed, the DFS recent statement may have given those short some comfort.

Headlam update yesterday looked solid enough.

[ed 123] 19/7/2017 12:21

Agree, anyone shorting here is brave.

Fwiw, a few more are displaying bravery. Disclosed short interest has gone up from about 2.5% to 3.42%.

[essentialinvestor] 19/7/2017 10:03

Safer strategy atm may be to keep a position size small
so you don't lose any sleep with this.

Anyone shorting is brave with the outside bid possibility,
however some are willing to run that risk.

[essentialinvestor] 19/7/2017 10:00

Bought a few back again sold yesterday.


Squash, longer term you will hopefully do well, with bumps along the way.

[squash90] 19/7/2017 09:44

Here we go again don't normally post but got on these a while back big mistake !!!