03:19:34 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Metro Inc
Symbol MRU
Shares Issued 227,719,094
Close 2017-11-20 C$ 41.32
Market Cap C$ 9,409,352,964
Recent Sedar Documents

Successful Inv says buy Metro

2017-11-20 20:52 ET - In the News

The Successful Investor, in the November, 2017, issue, says buy Metro Inc., recently $42. The Investor said buy 16 times from December, 2007, to March, 2017, at prices ranging from $25 to $92 (the stock split 3 for 1 in February, 2015). Sister publication Stock Pickers Digest said buy 16 times from September, 1998, to April, 2007, at prices ranging from $18 to $37.17 (the stock split 2 for 1 in February, 2002). Assuming a $1,000 investment for each of the 32 buys, the $32,000 position is now worth a pleasing $158,382. Metro runs 600 grocery stores and 250 drugstores in Quebec and Ontario. It recently made a $4.5-billion takeover offer for Jean Coutu Group, which owns 419 franchised drugstores in Quebec, Ontario and New Brunswick. One-quarter of the consideration is to be paid in the form of shares of Metro, with the remainder to be paid in cash. The family who owns 93 per cent of Jean Coutu's shares has already agreed to accept the offer. The Investor approves of the takeover, although it acknowledges that big deals always add risk. Notably, Metro will have borrow some of the cash it needs to close the deal, which will push its long-term debt up to around $4.4-billion (a high 45 per cent of market cap). The stock is still a buy.

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