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Bank of America Merrill Lynch upgrades Dr Martens to ‘buy ... ... the broker notes that shares at the current levels are “simply too cheap” on the back of four profit warnings over the last 12 months. The bank suggests expectations have been reset and Dr Martens is “reinvesting in the business, which should help limit operational surprises, while senior personnel changes are also taking place”. BoA sees “opportunity to consider the stock given its more robust earnings expectations and signs of a cleaner equity story to come”.
Management buys are always reassuring...
Https://www.ii.co.uk/analysis-commentary/insider-boss-buys-shares-are-simply-too-cheap-ii528651
My dividend had been credited to my account before the market opened....Interactive Investor account.
Anyone received the divident yet? is there typically a time of day they are usually paid? Thanks
Management buys are always reassuring :)
Dr. Marten is very well made and set up business.
All the brokers have have given great targets.This price just bargain.
Strong buy.
Yes CEOs don't invest £400,000 unless they have confidence
GLA
The Company announces that it has been notified that Kenny Wilson, Chief Executive Officer and PDMR, purchased 309,948 ordinary shares of 1 pence each in the Company ('Ordinary Shares') on 14 July 2023 at a price of £1.290535 per Ordinary Share.
Looks like things are improving.
With the current low SP, buy backs are an excellent capital allocation strategy.
As Dividend is due next week we might see a bit more of a of a lift with their reinvestment.
With 1 Billion shares outstanding £50M is 5% so should put a floor on it and hopefully a squeeze!
Interesting development. Must be some confidence returning to the boardroom
Guess we'll see if it works out.
Today, Dr. Martens plc will hold its Annual General Meeting at 0930 at the Holiday Inn London, Camden Lock, 30 Jamestown Road, London.
Trading since the start of this financial year has been in line with our expectations and the guidance given in our year end results announcement. As previously discussed, Q1 is the smallest period of our financial year, representing the end of spring/summer trading.
DTC has seen very good growth in both EMEA and APAC, with continued strength in retail as traffic recovers post covid, and good ecommerce growth. As planned, wholesale revenues were lower year-on-year, across all three regions. This includes the impact of the strategic decisions to reduce EMEA retailer supply and cease sales to the China distributor ahead of the contract end.
By region, the shape of trading to date is as expected. EMEA is delivering a very pleasing performance and APAC has seen good growth, driven by Japan. Americas revenues were lower year-on-year, driven by wholesale, in line with our expectations. Addressing our performance in this region remains our number one priority for FY24. In Americas DTC, the actions we're taking are progressing to plan, and we continue to expect that it will take until the second half to see a meaningful improvement here.
Great news indeed!
https://www.londonstockexchange.com/news-article/DOCS/holding-s-in-company/16036647
That RNS might be the answer. Artemis Investment Management LLP have just bought 5%
Absolutely flying now. Any reason? Anticipation ahead of the AGM?
- The price tracker reveals 5-8% price increases in the UK and selective price increases
in Europe. This follows US price increases in early April.
- At Amazon, the price trend for Dr Martens is also up.
- Price discipline is healthy for margins, lower sales but higher profits, and keeps the brand in demand.
- The AGM is next week; there would be enough time for a profit warning before.
- In 2013 when Permira acquired Dr Martens for £300m., annual revenues were £160.4m. with an operating profit of £22.9m.
- In 2021, at the IPO, revenues were £672m. and net profit £184m.
- In the current business year, analysts expect more than £1b. in revenues and a net profit of £105m.
Where is the issue when you compare these figures with Nike's 50x revenues, but the same ten per cent net profit margin, and valued at 3x revenues, equals £ 3 for Dr Martens stock!
Yes , best to go short on this , profit warnings only mean one thing. Don't get sucked in here
I clicked on TerryMC1 and I'm seeing bear, bear, bear....
Buy DOCs at 100p
Buy VOD at 50p etc
BUY LONG STAY HAPPY
The way things are going, anything is possible. I think it is time the SP steadily started to move north rather than south.
Where do we think the bottom may be? I am guessing the selloff today is caused by people getting the Divi and putting their money elsewhere
The gift that keeps giving.
Slow burner this one, holding at 140 ish and will pick up some more if it goes to 120