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|Food & Drug Retailers
Morrison Share Discussion Threads
Showing 9851 to 9872 of 9875 messages
|Recovery Continues !|
|Before XD there is a trading update next week on May 4.
The house broker Shore are not completely independent so you might think that relationship would make them more accurate in their forecasts than other brokers. MRW chairman Andy Higginson had some time on his hands and added to his multiple role workload by joining Shore as a "senior advisor" last year. How come these people have so many jobs - how can they do them all well?
Anyway the point is you might logically think Shore will have "guessed" the next update right.
Morrisons is “in much better shape” than it was last year, as it further exploits its manufacturing capacity, analysts say, ahead of its first-quarter results, due on May 4.
Betting Against U.K. Retailers Hits 2-Year High Amid Brexit Jitters
Dow Jones News
Marks & Spencer (LSE:MKS)
Intraday Stock Chart
Today : Friday 7 April 2017
By Philip Waller
LONDON--Betting against U.K. retail stocks has hit a two-year high as investors fret about the potential impact on the sector of a "hard Brexit", a study released Thursday showed.
Grocers including Ocado Group PLC (OCDO.LN), Wm Morrison Supermarkets PLC (MRW.LN) and J Sainsbury PLC (SBRY.LN) hold the top three places respectively in a list of the most-heavily shorted stocks in the sector compiled by research group IHS Markit.
Marks & Spencer Group PLC (MKS.LN), Halfords Group PLC (HFD.LN), Sports Direct International PLC (SPD.LN) and Pets at Home Group PLC (PETS.LN) have also been targets of short-selling, in which investors bet on a downward movement in shares by borrowing and selling them in the hope of buying them back at a profit later.
Online grocer Ocado is also the third most-shorted stock in the FTSE350 Index as a whole, with more than 15% of its shares out on loan.
Investors keen to hedge against uncertainty caused by the U.K.'s vote to leave the EU have been shorting UK stocks with a heavy domestic revenue profile since the middle of last year, IHS Markit said.
Shorting of retailers, many of which get most or all of their earnings from the U.K. market, has surged in the last few weeks as Britain has triggered Article 50, the EU's mechanism by which an existing member leaves the bloc.
The bets now represent 3.3% of the total shares of the 43 retailers in IHS Markit's study, the highest average for the sector in more than two years.
IHS Markit analyst Simon Colvin said a growing number of disputes related to the U.K.'s EU exit, such as last week's row over the sovereignty of British overseas territory Gibraltar, risks a so-called "hard Brexit", in which the U.K. would quit the EU without a trade deal after the official two-year negotiating period.
"Such an outcome could leave retailers paying more for imported goods, owing to both tariffs and a falling pound, while potentially limiting their access to the foreign staff who play an important role in the U.K.'s service industry," Mr Colvin said.
While supermarkets have been shorted for a while due to competition from discounters, more bearish sentiment towards clothing and sport goods retailers in the last few weeks indicates the market is steeling itself for a slowdown in non-essential spending, he added.
Short interest in M&S has more than doubled in the year to date to 9% of shares outstanding, while shorting of Sports Direct and Pets at Home has climbed by more than a third since the start of the year.
Write to Philip Waller at firstname.lastname@example.org
(END) Dow Jones Newswires
April 06, 2017 07:30 ET (11:30 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Please do your own research.|
|Countless - a bit more clickable if you fiddle with the HTTP bit.
Double upgrade from Bank of America
It fits the bullish case but the vast bulk of brokers forecasts on MRW have completely missed out on the £1 rise from the 140p depths so why would they be worth following now.
I wonder if Ladbrokes will allow me to fill in the fixed odds coupon after I see the footy results.|
|OK, we continue to learn something. But I would have thought that any CFD provider will have to cover its net short or long CFD position by being short or long real shares, otherwise they are massively exposed.|
|well I got a response from the FCA, my complaint was not upheld and I have been schooled. Apparently a large proportion of the declared short positions can be cash-settled derivatives such as CFDs (I hadn't realised that these were used in the same order of magnitude as regular share-settled short sales but a little bit of research suggests they can be). This makes shares on loan data quite a lot less valuable than I thought, more of a very rough indication of than a proxy for the total short position.
The email also said that the FCA might be investigating this particular issue but I think that might be a convenient way of dismissing any further protest from me because disclosure may impact their enquiries etc...
... so it looks like a growing porportion of the declared short positions in MRW do not have to be settled by buying shares and I'm guessing they won't contribute to the inevitable and still massive short-squeeze.|
|If anyone is ever in my area worth checking out their Weybridge store,
very impressive, and busy.|
A very interesting read on some of the strengths of MRW.
Life has been difficult for the UK’s four largest supermarkets over the past few years but now the light at the end of the tunnel appears to be shining through.
Morrisons (LSE: MRW) has executed one of the best turnarounds of the group thanks to management’s decision to take the company back to its roots. The firm was built around the idea of offering shoppers high quality produce at low prices, exactly what the hard-pressed UK consumer needs today.
The company’s results for the year ended 29 January 2017 show just how the return to basics has helped it improve its prospects. According to the figures published this morning, for the year Morrisons reported profit before tax up 49.8% year-on-year to £325m and like-for-like sales ex-fuel and VAT up 1.7%, in the first year of positive sales growth since 2011/12. Sales grew above-trend during the fourth quarter with the company reporting like-for-like growth of 2.5%. Turnover for the year was up 1.2% to £16.3bn despite store closures, which shows the strength of the Morrisons brand and is testament to management’s online expansion strategy.
Ready for further growth
Morrisons is firing on all cylinders, and the company is now well-placed to grow steadily over the next few years. What’s more, actions to cut costs, pay down debt and reorganise the company’s store portfolio mean that the firm now looks to be one of the safest investments around.
Indeed, its key strength has always been the balance sheet, which remains the case today. The company has £7.2bn of property and £1.3bn of net debt. Management is looking to reduce net debt to £1bn by the end of 2017/18.
With a reported free cash flow of over £600m for the past two financial years, there’s no reason why the company can’t achieve this target and maintain shareholder payouts. When debt is reduced and profits stabilised, Morrisons will be a cash machine, and I expect management to increase the company’s per share dividend payout dramatically.
At present, the shares support a dividend yield of 2.2%. Over the next decade, I expect it will become one of the market’s best income stocks as it rewards shareholders with hefty cash payouts.|
|scotches, the shares on loan data is thought to be prone to double-counting of loaned shares which are then loaned on and they are also supposed to be loaned for reasons other than settling short sales, like for the use of the voting rights. I know of no reasons large numbers of loaned shares would not be counted by clearing. Nothing is certain but I'm confident enough to trouble the FCA with it. The FCA are better able than me to notice this discrepancy, they might have even mislaid some declarations, if it's the FCA's fault I'd be satisfied if they just get it right in future. Making a complaint against the FCA is just probably the simplest way for a private shareholder to get them to act.
Yes that Pelham position looks like a good candidate for some of the discrepancy.|
|Nerd. Is the Euroclear position certain to be accurate and the fault lie with the FCA. Maybe they can fine themselves then.
Any ideas on that Pelham position which has just celebrated a third consecutive year of being stuck on 1.25% short = 29 million shares.|
|scotches, this morning I made a complaint to the FCA against the FCA for publishing false declarations re MRW. I've made complaints to and against them before about their failure to publish the daily updated spreadsheet and these complaints were upheld by them and the spreadsheet has been more reliably published, so I think they take complaints seriously. There doesn't appear to be any other way to work with them other than official complaints. There is a further option to make a complaint to ESMA against the FCA. Anyway, give it a few days and they might update the spreadsheet with up-to-date short positions.|
|<<...shorts data looks fake now, it exceeds shares on loan data>>
I put a link above at the end of the header info to the daily short position excel sheet as produced by the FCA (Financial Conduct Authority). The shortracker report is identical to the FCA listings apart from the fact that shortracker may be a day behind if there is a recent change. At the moment both have the disclosed shorts at 16.89% of the company.
I don't know what punishments await a company for false short declarations but you would think the proliferation of fines should make financial companies eager to be accurate.
I wondered some time ago that at least one of the declared positions seems very odd. Why would this fund be holding short 1.25% of the company for a full three years. If it is to offset an alternate long position then that seems baffling as well. How can a company benefit overall when the short position incurs dividend and loan fee costs.
Pelham Long/Short Master Fund Limited WM MORRISON SUPERMARKETS GB0006043169 1.25 2014-03-13|
|I'm not a nationalist, I'd prefer humanity to unite under a global government and I don't think I'd like home grown oranges but a Buy British campaign might be good for the UK's largest fresh food producer.
|pherrom, shorts data looks fake now, it exceeds shares on loan data.|
|Good Recovery !|
|Two director purchases but shorts have increased to 16.9%.|
|"The Company announces that on 13 March 2017, Neil Davidson, Non Executive Director, purchased 12,800 ordinary shares of 10 pence each ("Shares") in the Company on the London Stock Exchange at a purchase price per Share of 234.8p."|
|The rating demands faultless execution, and in a market where competitive
pressures only appear to grow.|
|Well, the smiles were on the faces of shorts.
Seems to have been a case of selling on the good news. The results were exactly as guided in advance, good but nothing extra that I hoped for.
Still, MRW remains the pick of the bunch. Not many companies with a pension surplus with our current ZIRP. BT has 10 billion deficit and Tesco about 3 from memory. Owns 80% of stores, whereas Tesco is saddled with a mass of RPI-up-only leases. Low and on course-to-disappear debt.
Admittedly forecast profit rise is not great but then thanks to extreme BoE policy all yields are relatively low.|
|Wet Dream Begins !|