Reckitt Benckiser (RB)

#1

La compañía británica Reckitt Benckiser negocia la compra de Mead Johnson (fabricante de leche para recién nacidos) por 15.500 millones. Reckitt Benckiser es una gran desconocida en nuestro país, pero tiene marcas tan conocidas como Air Wick, Calgon, Veet, Cillit Bang, Strepsils y Vanish:

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#2

Es la empresa que tiene durex también no?

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#3

Es la empresa que tiene durex también no?

Sí, he escogido cuatro o cinco marcas para dar una idea de qué empresa hablamos y posiblemente me he dejado la más conocida :slight_smile:

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#4

Es una empresa que se ve poco en las carteras de dividendo debido a su bajo yield. Personalmente me parece buena opción para carteras conservadoras.

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#5

Empresa que sigo para incorporar a mí cartera.

Actualmente la veo cara por fundamentales.

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#6

¿A qué precio te plantearías comprar?

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#7

Se hace sabeeerrrrr…que Morningstar ha actualizado el moat de RB a Wide desde Narrow. La compra de Mead Johnson parece que les gusta, la tesis que plantean es que cada vez pesan más las marcas “conocidas”/líderes en el segmento, en las que presumiblemente tienes mayor margen para el incremento de precio. Además suben ligeramente el fair value de la acción a 74.00 libras esterlinas.

Estas acabaran formando parte de la cartera tarde o temprano. Si se acercan a las 70 libras y teniendo en cuenta además lo flojita que anda la libra ultimamente lo mismo les doy el primer mordisco.

Saludos

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#8

Por si no habéis leidoleído algo de esto:

https://www.fool.co.uk/investing/2017/07/24/why-id-buy-and-hold-reckitt-benckiser-group-plc-forever/

The Motley Fool
Why I’d buy and hold Reckitt Benckiser Group plc forever
Paul Summers Monday, 24th July, 2017

While the suggestion that certain shares can be held ‘forever’ has a hyperbolic feel, there’s no doubt that there exist a number of UK businesses that investors should feel comfortable owning over the long term.

Thanks to its strong portfolio of brands and ability to generate consistent profits, £55bn cap consumer good company ReckittBenckiser (LSE: RB) would be one of my top picks.

“A better, stronger company”
Today’s interim results revealed “broad-based growth” across the majority of Reckitt’s brands. The company booked a 14% rise in revenue to just over £5bn in the six months to the end of June, although like-for-like revenue fell by 1%. Pre-tax profit came in at £1.02bn — a 46% rise on the £697m generated over the same period in 2016.

The Slough-based firm reported making “significant progress” on transforming its portfolio, in line with CEO Rakesh Kapoor‘s desire for Reckitt to become “a more focused consumer health and hygiene business”. The acquisition of Mead Johnson Nutrition — completed last month and a full quarter earlier than expected — appears to be integrating well. Going the other way was the sale of Reckitt’s food business to US business McCormick, the proceeds of which will be used to pay down debt.

But it wasn’t all good news. While Reckitt expects a return to form over the remainder of 2017, the targeted 2% like-for-like growth in full-year net revenue was still labeled as “challenging” given “tough market conditions“. Despite stating that it was now a “better, stronger company“, the ongoing impact of recent operational issues (including the recent NotPetya cyber attack, collapse of sales in South Korea and problematic product launches), also continue to weigh on short term sentiment towards the business. The shares were down over 2% in early trading.

Right now, shares in Reckitt trade on 23 times forecast earnings for 2017. That may seem high but it’s pretty standard for companies of this type, such is the perceived security of their earnings. The business continues to generate stacks of cash and consistently high returns on the money it invests. While relatively low compared to the payouts offered by its FTSE 100 peers, Reckitt’s forecast 2.2% yield is also fully covered by profits and subject to regular hikes by its board (including today’s 14% increase to the interim payout).

Despite its current problems, Reckitt remains a quality operator and one I’d have no problem holding indefinitely.

Reassuringly expensive
Another company I’d feel content to tuck away is alcoholic drinks maker Diageo (LSE: DGE). Like its FTSE 100 peer, the £58bn cap boasts high operating margins, strong free cashflow and an enviable portfolio of brands (including Guinness, Captain Morgan and Baileys).

Like Reckitt, Diageo has also been on the acquisition trail of late, snapping up US super-premium tequila brand Casamigos for $1bn. With the latter delivering a compound annual growth rate of 54% over the last two years, it’s not surprising that Diageo wants a chance to introduce the multi-award winning label, part-owned by George Clooney, to an international audience. The acquisition is expected to complete in the second half of 2017 and begin contributing to profits in four years time.

Like Reckitt, Diageo’s shares will never be ‘cheap’ in the traditional sense, trading as they do at 20 times forecast earnings for 2018. Nevertheless, for such a resilient company, I still think the shares are well worth snapping up.

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Paul Summers has no position in any shares mentioned. The Motley Fool UK has recommended Diageo and Reckitt Benckiser.

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#9

Esta es la empresa de cuya existencia podemos percatarnos, como diría Peter Lynch, por observación. En casa tenemos multitud de productos que, al menos yo, llevamos usando desde hace décadas como las pastillas antimosquitos Fogo o Calgon. Es para llevarla en la cartera sí o sí para que la hereden nuestros tataranietos, pero no a los ratios que cotiza ahora. Hay que hacerle un marcaje muy de cerca.

Qué maravilla de gráfico. Esto es una empresa resistente a las crisis y lo demás son tonterías:

 

 

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#10

Estoy de acuerdo contigo Dario, a ver si tiene un pequeño desliz y podemos aprovechar para entrar

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#11

Así es, si cae un poco más la incorporo a la cartera. El dividendo algo justo pero compensa con la solidez en recesiones.

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#12

https://www.ukvalueinvestor.com/2017/11/reckitt-benckiser-expensive-defensive.html/

I would buy Reckitt Benckiser if…

  1. Debts are reduced – Those debts would have to fall below £11 billion at least, and preferably below £10 billion (and preferably much lower than that), and
  2. The price is reduced – The share price would have to fall below £55. At that point the forecast yield could be as high as 3.5% and, more importantly, the company would enter the top 50 stocks on my stock screen.

However, my guess is that the debt-reduction process will take many years, so don’t expect to see Reckitt Benckiser in my portfolio anytime soon.

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#13

He estado buscando el numero de años que lleva aumentando sin recortar el dividendo y no lo encuentro. Tampoco esta entre la lista de UK dividend Champions :S Alguien tiene esta información?

 

Gracias. saludos

 

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#14

Según mis apuntes, en 2015 congeló el dividendo de 2014

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#15

https://www.rb.com/investors/dividend-information/

Según esto, en 2015 lo mantuvo como dice nanoscotish. Vienen los de los últimos 10 años

https://www.stockopedia.com/share-prices/reckitt-benckiser-LON:RB./dividends/

Aquí los de los últimos 20 años

 

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#16

Aquí se puede ver el dividend growth rate de los últimos 5/10/15 años

https://www.dividenddata.co.uk/dividend-history.py?epic=RB.

IeD también publicó un análisis exhaustivo sobre ella en su blog ayer mismo

http://invertirendividendos.com/analisis-reckitt-benckiser-group-rb-uk-2015_03/

Veo complicado entrar mientras el yield no supere el 3% (con el dividendo actual equivaldría a una cotización de 54.00 GBP)

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#17

Es una empresa que llevo observando desde hace un año, pero me echaba para atrás su bajo yield, además poca gente habla de ella y eso tampoco me gustaba. Finalmente me he propuesto que este año 2018 tengo que añadirla a mi cartera, pues aunque su yield es bajo, éste aumenta a un buen ritmo. Es un valor seguro con marcas muy buenas y dividendos que suben rápido, así que qué leches, tiene que ser mío.

Espero que baje de precio para entrar con un buen precio y un yield de al menos el 2% sobre el precio.

 

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#18

Esa rentabilidad por el dividendo creo que te la da incluso a estos precios.

Saludos

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#19

La decisión parece haberle sentado bien a la cotización que sube hoy un 7%

https://www.reuters.com/article/us-pfizer-divestiture/reckitt-benckiser-pulls-out-of-pfizer-consumer-health-auction-idUSKBN1GX30J

British consumer goods maker Reckitt Benckiser Group said on Wednesday it had ended discussions with Pfizer Inc. over buying its consumer healthcare business, a day before the U.S. drug company was expecting binding offers for the unit.
Reckitt’s exit from the sale process strengthens the hand of British pharmaceutical company GlaxoSmithKline Plc , which sources familiar with the matter said was working on an offer for the business. It is possible that Pfizer will receive more offers by Thursday’s deadline for bids, the sources added.

“An acquisition for the whole Pfizer consumer health business did not fit our acquisition criteria and an acquisition of part of the business was not possible,” Reckitt said.
Reckitt’s priority would remain organic growth and integration of Mead Johnson Nutrition, the British company said in a statement.
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#20

Otra que he comprado estos ultimos dias!!!

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