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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: Hi,

Two quick questions on recent additions to the Balanced Equity portfolio:

1 - Do you think Alimentation Couche Tard may be able to acquire some retail locations in Canada or the U.S. from an integrated oil player that is looking to raise some cash? I heard that Suncor may be looking to sell Petro Canada? Not sure if its just speculation though.

2 - For Progressive Waste, the stock is near a 52 week high. Do you see growth in the U.S. market going forward or is this a play on lower oil prices improving margins and driving profit growth?

Thanks,
Jason
Read Answer Asked by Jason on April 02, 2015
Q: It seems that noses are out of joint in the recent Couche-Tard acquisition of The Pantry. With an investigation being launched against The Pantry directors for an alleged breach of fiduciary trust, what would be the implications to ATD? Would/should ATD walk away from this deal, or would/should it simply raise its share price, if it is found that they did indeed "underpay" for Pantry shares. Your analysis of this situation would be appreciated. Thanks, as always.
Read Answer Asked by Sylvia on December 22, 2014
Q: "Alimentation Couche-Tard - ATD.B - is one of the biggest convenience-store companies in the world," says Wikipedia. I own Alimentation. Here in Halifax they have a minimal presence, mainly as Circle K stores associated with gas stations. I just don't see how this company falls under Consumer Staples rather than Consumer Discretionary. I'm sure there was a time in all our lives when slushies, Vachon cakes, and one-dollar hot dogs were staples that we lived on. But is it really a "consumer staple"? The other part of the question is to invite comment on my perception that with lower oil prices people should have more money to spend in convenience stores, assuming gasoline profits/margins/etc. don't deteriorate. Thanks!
Read Answer Asked by Jerry on October 28, 2014
Q: I held atd.b (Couche-Tard)since 2009 with significant gain but it is still within 5% of my portfolio as I have not added to it. I had a discussion with a Montreal Portfolio Manager about Couche-Tard today at a meeting. He told me 3 out of the 4 founders at Couche-Tard have or retiring from the company. While these folks have retired they have not sold their own shares yet. This mutual fund PM have existed their position in their fund and moved on to a similar U.S. company. Should I take some profit by reducing my position or exit my position? The security is held in my RRSP.
Read Answer Asked by Ford on September 17, 2014
Q: Hi Peter and team,
Alimentation Couche-Tard (ATD) has grown to become my largest holding at just over 6.5%. I am just wondering what your opinion is for the company/stock. I am happy to continue holding but I am also considering selling roughly 1.5% to bring it down to a 5% holding. If I were to do that what stock (growth with a small dividend) would you recommend putting it in?

My other Canadian holdings (which are between 2 and 4% of my portfolio) are AVO, BAD, BEP, CNR, DH, EFN, ESL, EH, MG, OTC, RY, RX,and TD.

Also, just wondering if you are considering covering ATD any time soon?

Thanks very much.
Read Answer Asked by Brian on August 07, 2014
Q: Hi Peter, I have owned ATD.b for about a year and have done well. I read an article in the Globe re atd.b not being entered in the SPX because of various reasons, so while I am happy with my return, the stock has been going sideways for a while. Should I consider,to the point, might I do better with Loblaws in lieu of the above mentioned article. I need growth and income too. I am open to any replacement stock you might recommend if not the above two. Thanks very much.
Read Answer Asked by Maureen on June 11, 2014
Q: Hello and good afternoon,

Couche-Tard (ATD.B): the last post re ATD.B was end Apr, and your team spoke highly of it. That was pre-split. Has there been any material change in the corp to explain the decline over the past month (I could not find any news reports)? Ack the pending change of CEO, and perhaps it is simply a breather, providing a sale price in the process?
Thanks in advance. Bob
Read Answer Asked by Bob on June 03, 2014
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