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2022-03-20

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Four Reasons To Buy JDE Peet's

Ridofranz/iStock via Getty Images Introduction JDE Peet's Full Year Results 2021 Presentation. JDE P

Four Reasons To Buy JDE Peet's

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{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":634750983,"tweetId":"634750983","gmtCreate":1647725464555,"gmtModify":1647745125819,"author":{"id":3566778399843367,"authorId":3566778399843367,"authorIdStr":"3566778399843367","name":"怂狗","avatar":"https://static.tigerbbs.com/4a052ed48c07694c7f0f093345d0787e","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>\n这篇文章不错，转发给大家看</body></html>","htmlText":"<html><head></head><body>\n这篇文章不错，转发给大家看</body></html>","text":"这篇文章不错，转发给大家看","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/634750983","repostId":2220777017,"repostType":2,"repost":{"id":"2220777017","pubTimestamp":1647627998,"share":"https://www.laohu8.com/m/news/2220777017?lang=&edition=full","pubTime":"2022-03-19 02:26","market":"us","language":"en","title":"Four Reasons To Buy JDE Peet's","url":"https://stock-news.laohu8.com/highlight/detail?id=2220777017","media":"seekingalpha","summary":"Ridofranz/iStock via Getty Images Introduction JDE Peet's Full Year Results 2021 Presentation. JDE P","content":"<html><body><p><figure><picture> <img height=\"1024px\" src=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1308841987/image_1308841987.jpg?io=getty-c-w750\" srcset=\"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1308841987/image_1308841987.jpg?io=getty-c-w1536 1536w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1308841987/image_1308841987.jpg?io=getty-c-w1280 1280w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1308841987/image_1308841987.jpg?io=getty-c-w1080 1080w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1308841987/image_1308841987.jpg?io=getty-c-w750 750w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1308841987/image_1308841987.jpg?io=getty-c-w640 640w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1308841987/image_1308841987.jpg?io=getty-c-w480 480w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1308841987/image_1308841987.jpg?io=getty-c-w320 320w, https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1308841987/image_1308841987.jpg?io=getty-c-w240 240w\" width=\"1536px\"/> </picture><figcaption> <p>Ridofranz/iStock via Getty Images</p></figcaption></figure></p> <h2>Introduction</h2> <p><figure><span><img loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2022/3/18/53003470-16476054208047974.png\"/></span><figcaption><p><span>JDE <a href=\"https://laohu8.com/S/PPC.AU\">Peet</a>'s Full Year Results 2021 Presentation.</span></p></figcaption></figure></p><div></div> <p>JDE Peet's N.V. (OTCPK:JDEPF) is known for its rich coffee brands and has a remarkably large position in this segment. Jacobs, Douwe Egberts, Peet's and Mondelez (MDLZ) coffee assets were formed into JDE Peet's. Major competitors are Nestlé's (NSGRY) Nespresso and Starbucks (SBUX) and Dunkin' ready-to-drink coffee. And because Starbucks and Dunkin' mainly focus on selling ready-to-drink beverages, they cannot be seen as direct competitors.</p> <p>JDE Peet's duopoly makes it a strong company. And because caffeine is seen as an addictive substance, coffee stocks could do quite well in times of economic recession. Due to the work-from-home regulations in 2020 during Covid, away-from-home coffee sales fell by 30% in H2 2020 YoY. However, sales from in-home coffee rose by 10%. In total, organic sales grew by 1% in that period. Indeed, coffee stocks can be recession-proof.</p> <p>Shares of JDE Peet's fell in 2021. Sales and EPS growth is mid-single digit growth and the high PE ratio could not be justified at these growth levels. In addition to a rich valuation, there were concerns about the debt maturities of JDE Peet's. The leverage was also high, and a share buyback program will be initiated if the leverage is below 2.5.</p> <p>The 2021 full-year results showed a positive picture with 4 reasons to buy JDE Peet's:</p> <ol> <li>High single-digit organic sales growth and double-digit EPS growth over 2021.</li> <li>Favorable short and long term outlook.</li> <li>Favorable new debt maturities and net leverage.</li> <li>A share repurchase program is expected in the second half of 2022.</li> </ol> <p>These positive points make the stock worth buying.</p> <h2>High Single-Digit Organic Sales Growth And A Favorable Short And Long Term Outlook</h2> <p><figure><span><img loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2022/3/18/53003470-16476054202318769.png\"/></span><figcaption><p>JDE Peet's Full-Year 2021 Results <span>(JDE Peet's Full Year Results 2021 Presentation.)</span></p></figcaption></figure></p> <p>JDE Peet's delivered strong results for the full year 2021; organic sales grew 6.1% YoY and earnings per share grew 13.7% YoY. Sales grew strongly in the second quarter of 2021 (+7.9%) and double-digit organic sales growth is expected for 2022. The company expects long-term organic sales growth of 3-5% YoY and adjusted growth in EBIT is expected to be in mid-single digits.</p><div></div> <p><figure><span><img loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2022/3/18/53003470-16476054205356455.png\"/></span><figcaption><p>2022 Outlook and long-term organic growth targets. <span>(JDE Peet's Full Year Results 2021 Presentation.)</span></p></figcaption></figure></p> <h2>Favorable New Debt Structure</h2> <p><figure><span><img loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2022/3/18/53003470-16476054204633498.png\"/></span><figcaption><p>JDE Peet's Debt Maturity Profile. <span>(JDE Peet's Full Year Results 2021 Presentation.)</span></p></figcaption></figure></p> <p>The maturity of their debt of EUR 4b is in 2023. However, the free cash flows plus the cash position are not sufficient to meet the repayment. The new debt maturities at year-end 2021 look much more favorable. The large debt of EUR 4b now is spread over the coming years, enabling them to meet their obligations. The average maturity has been increased from 2.2 years to 6 years, and the average cost of debt has improved from 2.4% to 1.2%. The new situation looks favorable and worries about paying off their debts have disappeared.</p> <h2>A Share Repurchase Program Is Expected In The Second Half Of 2022</h2> <p><figure><span><img loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2022/3/18/53003470-16476054205052457.png\"/></span><figcaption><p>JDE Peet's Capital Allocation Priorities. <span>(JDE Peet's Full Year Results 2021 Presentation.)</span></p></figcaption></figure></p><div></div> <p>Over the years, JDE Peet's has focused on deleveraging while remaining shareholder-friendly by paying dividends to its shareholders. JDE Peet's leverage steadily declined from 4.2x on December 31, 2019 to 2.67x on December 31, 2021. A share repurchase program will be initiated when the leverage is below 2.5x. Because adjusted EBIT in 2022 is expected to grow by single digits over 2022, a share repurchase program is expected in the second half of 2022.</p> <p><figure><span><img loading=\"lazy\" src=\"https://static.seekingalpha.com/uploads/2022/3/18/53003470-16476054204768946.png\"/></span><figcaption><p>Leverage and net debt development. <span>(JDE Peet's Full Year Results 2021 Presentation.)</span></p></figcaption></figure></p> <p>If the leverage is kept at the optimal leverage of 2.5 and the full free cash flow is returned to shareholders, the dividend + buyback yield will be ~10% (free cash flow of EUR ~1.4 billion at market capitalization of EUR ~14 billion). Dividend payments for 2022 is expected to be EUR 702 million, so there is approximately EUR 700 million left for annual share buybacks. The buyback yield is then 5%. JDE Peet's is in a strong financial position and will generously reward its shareholders in the second half of 2022.</p> <h2>Conclusion</h2> <p>JDE Peet's portfolio consists of the world's largest coffee brands and it has a remarkably large market share in this segment. A direct major competitor is Nestlé's Nespresso, but JDE Peet's duopoly position makes it a strong company that weathers recessions well. Organic sales and EPS increased by 6.1% and 13.7% respectively in 2021. The short-term outlook is favorable, with double-digit revenue growth expected for 2022 and long-term revenue growth of 3-5% YoY.</p> <p>The share price of JDE Peet's fell due to its rich valuation and concerns about a large debt maturity in 2023. Now, the debt maturities are spread favorably over the coming years with lower debt costs. JDE Peet's focuses on deleveraging until optimal leverage of 2.5x is reached before initiating a shareholder repurchase program. Current leverage is 2.67x and a shareholder repurchase program is expected in the second half of 2022.</p> <p>If the company returns its full free cash flows to shareholders, the buyback + dividend yield is 10%. The strong growth outlook, favorable debt maturities and net leverage, and the expected share repurchase program make the stock attractive to buy.</p>\n</body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Four Reasons To Buy JDE Peet's</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFour Reasons To Buy JDE Peet's\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-19 02:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4496487-four-reasons-to-buy-jde-peets><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ridofranz/iStock via Getty Images Introduction JDE Peet's Full Year Results 2021 Presentation. JDE Peet's N.V. (OTCPK:JDEPF) is known for its rich coffee brands and has a remarkably large position in ...</p>\n\n<a href=\"https://seekingalpha.com/article/4496487-four-reasons-to-buy-jde-peets\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4535":"淡马锡持仓","BK4559":"巴菲特持仓","MDLZ":"亿滋","SBUX":"星巴克","BK4209":"餐馆","BK4505":"高瓴资本持仓","JDEPF":"JDE Peet's NV","BK4504":"桥水持仓","BK4212":"包装食品与肉类"},"source_url":"https://seekingalpha.com/article/4496487-four-reasons-to-buy-jde-peets","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2220777017","content_text":"Ridofranz/iStock via Getty Images Introduction JDE Peet's Full Year Results 2021 Presentation. JDE Peet's N.V. (OTCPK:JDEPF) is known for its rich coffee brands and has a remarkably large position in this segment. Jacobs, Douwe Egberts, Peet's and Mondelez (MDLZ) coffee assets were formed into JDE Peet's. Major competitors are Nestlé's (NSGRY) Nespresso and Starbucks (SBUX) and Dunkin' ready-to-drink coffee. And because Starbucks and Dunkin' mainly focus on selling ready-to-drink beverages, they cannot be seen as direct competitors. JDE Peet's duopoly makes it a strong company. And because caffeine is seen as an addictive substance, coffee stocks could do quite well in times of economic recession. Due to the work-from-home regulations in 2020 during Covid, away-from-home coffee sales fell by 30% in H2 2020 YoY. However, sales from in-home coffee rose by 10%. In total, organic sales grew by 1% in that period. Indeed, coffee stocks can be recession-proof. Shares of JDE Peet's fell in 2021. Sales and EPS growth is mid-single digit growth and the high PE ratio could not be justified at these growth levels. In addition to a rich valuation, there were concerns about the debt maturities of JDE Peet's. The leverage was also high, and a share buyback program will be initiated if the leverage is below 2.5. The 2021 full-year results showed a positive picture with 4 reasons to buy JDE Peet's:  High single-digit organic sales growth and double-digit EPS growth over 2021. Favorable short and long term outlook. Favorable new debt maturities and net leverage. A share repurchase program is expected in the second half of 2022.  These positive points make the stock worth buying. High Single-Digit Organic Sales Growth And A Favorable Short And Long Term Outlook JDE Peet's Full-Year 2021 Results (JDE Peet's Full Year Results 2021 Presentation.) JDE Peet's delivered strong results for the full year 2021; organic sales grew 6.1% YoY and earnings per share grew 13.7% YoY. Sales grew strongly in the second quarter of 2021 (+7.9%) and double-digit organic sales growth is expected for 2022. The company expects long-term organic sales growth of 3-5% YoY and adjusted growth in EBIT is expected to be in mid-single digits. 2022 Outlook and long-term organic growth targets. (JDE Peet's Full Year Results 2021 Presentation.) Favorable New Debt Structure JDE Peet's Debt Maturity Profile. (JDE Peet's Full Year Results 2021 Presentation.) The maturity of their debt of EUR 4b is in 2023. However, the free cash flows plus the cash position are not sufficient to meet the repayment. The new debt maturities at year-end 2021 look much more favorable. The large debt of EUR 4b now is spread over the coming years, enabling them to meet their obligations. The average maturity has been increased from 2.2 years to 6 years, and the average cost of debt has improved from 2.4% to 1.2%. The new situation looks favorable and worries about paying off their debts have disappeared. A Share Repurchase Program Is Expected In The Second Half Of 2022 JDE Peet's Capital Allocation Priorities. (JDE Peet's Full Year Results 2021 Presentation.) Over the years, JDE Peet's has focused on deleveraging while remaining shareholder-friendly by paying dividends to its shareholders. JDE Peet's leverage steadily declined from 4.2x on December 31, 2019 to 2.67x on December 31, 2021. A share repurchase program will be initiated when the leverage is below 2.5x. Because adjusted EBIT in 2022 is expected to grow by single digits over 2022, a share repurchase program is expected in the second half of 2022. Leverage and net debt development. (JDE Peet's Full Year Results 2021 Presentation.) If the leverage is kept at the optimal leverage of 2.5 and the full free cash flow is returned to shareholders, the dividend + buyback yield will be ~10% (free cash flow of EUR ~1.4 billion at market capitalization of EUR ~14 billion). Dividend payments for 2022 is expected to be EUR 702 million, so there is approximately EUR 700 million left for annual share buybacks. The buyback yield is then 5%. JDE Peet's is in a strong financial position and will generously reward its shareholders in the second half of 2022. Conclusion JDE Peet's portfolio consists of the world's largest coffee brands and it has a remarkably large market share in this segment. A direct major competitor is Nestlé's Nespresso, but JDE Peet's duopoly position makes it a strong company that weathers recessions well. Organic sales and EPS increased by 6.1% and 13.7% respectively in 2021. The short-term outlook is favorable, with double-digit revenue growth expected for 2022 and long-term revenue growth of 3-5% YoY. The share price of JDE Peet's fell due to its rich valuation and concerns about a large debt maturity in 2023. Now, the debt maturities are spread favorably over the coming years with lower debt costs. JDE Peet's focuses on deleveraging until optimal leverage of 2.5x is reached before initiating a shareholder repurchase program. Current leverage is 2.67x and a shareholder repurchase program is expected in the second half of 2022. If the company returns its full free cash flows to shareholders, the buyback + dividend yield is 10%. The strong growth outlook, favorable debt maturities and net leverage, and the expected share repurchase program make the stock attractive to buy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":620,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":25,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}