Last stock in the clip. GLTA
https://www.bnnbloomberg.ca/video/christine-poole-s-top-picks~2035631
Loblaw (L TSX)
Recent purchase price at $67 range on September 2020
Loblaw is Canada’s largest grocery retailer offering consumers multiple banners and through Shoppers Drug Mart, the leading national drugstore operator. Digital retail initiatives include its PC Express “click and collect” and home delivery through Instacart. Its scale, locations, extensive private label offering and PC Optimum loyalty program are advantaged assets within a highly competitive industry. Loblaw provides a current yield of 1.8 per cent.
TOP PICK
Loblaw Companies Ltd (L-T)
September 15, 2020
Food retailing is defensive. Unlike Empire, Loblaw owns Shoppers which gives it an edge. Loblaw is expanding their health business, entering digital health with a new acquisition. The locations of both Loblaw and SDM are great and boast a 30% market share. People are becoming comfortable using online medical services, a trend that will continue across North America long term. The growth rate in their click-and-collect and grocery delivery may not be that strong, but will continue to rise. Trades at 14x forward earnings, reasonable. The dividend is a moderate 2%. Even if we enter high volatility, this sector and stock will be fine. (Analysts’ price target is $80.82)
Christine Poole
Price
$68.260
Owned
Yes