| Date | Subject |
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08/9/2020
13:30 | lmulhare: The share price has broken above the descending trendline it's been under since the peak at the end of 2017. :)
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29/8/2020
22:15 | lmulhare: Among the resolutions approved at the AGM on Friday 28 August 2020 is:
9 Authorisation of market purchases of the Company’s own shares
I hope this will lift the share price, which is at €1.10, having bizarrely gone as low as €1 the day before the ex-dividend date of 6 August. This 2019 final dividend of 2.577 cent per share is due to be paid on Wednesday 2 September.
hxxps://investors.totalproduce.com/~/media/Files/T/Total-Produce-IR/documents/agm/2020/agm-poll-results-2020.pdf
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01/3/2018
08:55 | quepassa: This share remains off the radar.
Yes, astonishing for a Company with a Euro4.3bn turnover and growing fast.
However, no bad thing and seems to be the house style not to court publicity.
All I can say is that they seem to be doing A LOT of things right and building a global fresh foods empire in highly sought after key sector.
The share price performance over recent years has been spectacular as well as paying a steadily increasing dividend.
Personally, I think this has a long way still to go for the patient investor. Also, glad that management are focused on the business rather than the shenanigans of engaging publicly and frequently with brokers and the financial media circus.
ALL IMO. DYOR.
QP
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31/8/2017
07:47 | grabster: Share price has doubled over the past two years - and has done so with a much steadier, more even-paced price chart than many. I continue to hold.
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26/7/2017
23:57 | basem1: Just researching this, why is there no year on year growth in eps ? Surely the share price shouldn't be rising as it is for static earnings. Is a PE of 19ish not up with events here ? The chart is saying take a position but the fundamentals are showing red flags. Happy to be persuaded.....
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26/7/2017
22:13 | quepassa: Indeed.Indeed.
The Amazon t/o of Whole Foods will put a rocket under the sector.
GMT is a hedge fund and they are an aggressive investor. They don't have such a big (indirect) stake for a lazy investment and likely expect big things in my view.
Link to their website here:
hXXps://gmtcapital.com/
However, perhaps even more interesting is what another Hedge Fund, Highfield Capital said yesterday about Amazon's t/o of Whole Foods. Here is an article:-
hXXp://uk.businessinsider.com/amazon-deal-for-whole-foods-true-genius-hedge-fund-2017-7?r=US&IR=T
The FRESH PRODUCE sector is IN PLAY. It will be an M&A field day.
With a very strong UK/European and USA footprint, Total Produce will be under scrutiny in my view. Remember its one-time sister company, Fyffes was taken over by Sumitomo just 6 months ago.
Personally expecting Total Produce share price to rise precipitously now as a result of massive sector interest.
ALL IMO> DYOR.
QP
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29/5/2017
19:22 | grabster: Share price has more than doubled in the last 2 year period, making it the best performer in my portfolio - unfortunately it's also my smallest holding!
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02/3/2017
08:37 | quepassa: Ten percent increase in dividend...........
Ten percent increase in share price based on dividend multiples/yield ??????
A re-rating by the market is perhaps overdue.
ALL IMO. DYOR.
QP
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06/6/2016
18:37 | wexboy: 2016 – The Great Irish Share Valuation Project (Part II):
Company: Total Produce (TOT:ID)
Last TGISVP Post: Here (former holding, also see here & esp. here)
Market Cap: EUR 538 M
Price: EUR 1.69
For such a dull stock originally, Total Produce has had an incredible run…actually quadrupling in the last 3-4 years! All despite the fact its fundamentals haven’t really changed – management continues to make 1-2 acquisitions a year (generally buying a 35-65% stake), adjusted EBITA margins remain in the 1.8-1.9% range, and earnings continue to grow at an average 9% clip in the last few years. Fortunately, I managed to capture a major portion of this revaluation…and to enjoy seeing so many investors only become interested after the stock doubled/tripled!? [Tom Claugus of GMT Capital (one of Jack Schwager’s new Market Wizards) has been building a 9% stake since late-2014, while Daniel Gladis of Vltava Fund now lists it as a top 5 position after (presumably) building his stake since late-2013].
But TOT management really takes the cake here: They finally pulled the trigger on a €20 million share buyback towards the end of last year…yup, I kid you not, the buyback actually came AFTER the share price quadrupled!?! And no, it’s not like there was some kind of prior financial constraint – management actually wallowed in €100 million+ of surplus cash for the past few years. Granted, I always had a pretty dim view of TOT’s capital allocation strategy anyway…but this must surely be the stupidest management decision I’ve seen in a long time.
Anyway, FY-2015 results confirm a 1.9% adjusted EBITA margin – but if we allow for an average 19% minority interest in profits, this is equivalent to an underlying 1.5% margin, which deserves a 0.15 P/S multiple. And with a mere €18 million of net debt outstanding, we can adjust for cash (& investment property), plus an incremental debt adjustment – noting actual finance expense paid of €7.2 million, we could comfortably add another €49 million of debt, but let’s haircut that by our usual 50%. In terms of earnings, we can award a bit of a premium to TOT’s growth rate, recognising the underlying stability of the business (but not forgetting management’s poor capital allocation record) – a notch higher (for a 12.0 P/E ratio) now seems in order – and noting the Progressive Produce acquisition early this year & the recent trading update, using the top end of the €0.105-115 EPS range also seems appropriate:
(EUR 0.115 Pros Adj Dil EPS * 12.0 P/E + (3,454 M Revenue * 0.15 P/S + 142 M Cash/Inv Property + 49 M Debt Adjustment * 50%) / 318 M Shares) / 2 = EUR 1.77
Total Produce is now fairly-valued. But there’s an obvious value-enhancing event still lurking on the horizon…a potential re-merger with Fyffes (FFY:ID). I mean, how ludicrous is it seeing two Irish fruit & veg companies (with basically the same €0.5 billion market caps) compete with each other, with both dead-set now on buying their way (however quixotically) into the North American market – the cost savings & revenue synergies to be harvested from, say, a nil-premium merger are blindingly obvious. But expecting something so rational from the TOT management team may be asking too much…we may have a very reluctant bride & groom on our hands still.
Price Target: EUR 1.77
Upside/(Downside): 4%
For related links/graphs/files, and more TGISVP analyses/price targets: Google the Wexboy investment blog.
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11/4/2016
09:26 | quepassa: This week's Investors Chronicle runs a feature on Irish stocks.
Total Produce gets a brief mention.
"Fyffes isn't the only agriculture producer flying high on Ireland's equity markets. Since floating in 2007, Total Produce has seen its share price rise steadily as it's recycled strong cash flows into acquisitions to build up a leading position in global fresh fruit and vegetable markets".
Page 23.
Cannot disagree with a word of that!
ALL IMO. DYOR.
QP
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PLUS1
