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Hi Pokerchips, so in your opinion little to do with the bad press towards the CEO concerning his pay rises but everything to do with Blackrock ?
That would make a lot more sense TBH. His pay is not extreme for large companies as you say.
Over 4% of stock out on loan is a quite a bit.
Going to be a matter of patience then. New lows expected.
Having the right CEO is essential, even if you have to pay them well....it is worth it.....when you get the wrong one...the costs can be enormous from losing market share etc etc...they once chose Peter Davis from Prudential...a strange move that didn't go every well at all...and that was after Dino Adriano who let things slip as well...
i think sentiment isn't good given the fact that JS have said they dont see any significant margin change and see sales this year as flat to a small increase ....
shorters like Blackrock have their teeth into it too..... SP move suggests they see the share price drifting down even more than the 9.9p dividend, after the ex div day on the 9th
JS is a good business and they do an incredible job on low profit margins , but they work on getting the volumes through to keep prices tight..... there is some concern that they may struggle to keep the volumes moving through required for the lower buying prices from suppliers ...
They are also writing down higher depreciation than they are spending on Capex, so the assets have to work harder and be squeezed harder to get the profits from them ....but having said that..they are doing a good job, all the same
"at the same time not agreeing to minimum living wage pay for the shop workers. "
..... the issue is with contractors that they use...
"Britain’s second-largest supermarket pays the living wage to its 171,000 direct employees across more than 1,400 stores in the UK, but crucially, it has declined to make its contractors pay the living wage of at least £9.90 an hour outside London or £11.05 in the capital. Outsourcing companies such as Mitie provide essential services such as cleaning and security to the supermarket."
https://www.theguardian.com/business/2022/jun/06/sainsburys-boss-pay-triples-to-38m-as-firm-rejects-living-wage-calls
The CEO does manage a £29.8 BILLION revenue company, so his responsibilities are quite high and with a bottom line profit margin of just 2% they cannot afford to make any mistakes....retail like JS is a 24/7/365 business...you wont get anyone taking on that kind of responsibility without a decent pay package....they just wouldn't apply
222p Close. Is it justified or is sentiment just bad?
Yes the CEO is greedy pig with his snout firmly in the trough, self-awarding himself bonuses and pay way above inflation rises whilst at the same time not agreeing to minimum living wage pay for the shop workers.
But does that justify a rock-bottom share price two days before a 4.4% return ex-dividend ?
I personally did not anticipate such a drop, but then that's the casino nature of the market these days.
Correct I bought in at 230p and today 223p Oops
Honestly I've had no luck since 2019 buying new shares they just carried on dropping.
Sainsbury's is good company, so I see this as a investment that pays a dividend.
Happy to hold here may even top up especially Sainsbury's is my favourite food shop :-)
Yes ! who would have expected that snake bellied death spiral
Well the people who bought in the last 2 days have just see the divi go up in smoke
By my calculations there are now more shares sold than what were originally issued :-)
CEO, must have custom made wellies, 3.8m wage packet, stated today
Last 2 days to fill your Welles before ex div day...
but for NAV on going ......
" In 2022/23, Sainsbury's expects a retail underlying depreciation and amortisation charge of around £1.2 billion, including around £500 million right of use asset depreciation."
Very good presentation and informative honest answers. My takeaway is Sainsbury should be better places to weather the cost of living storm with customer base. I hope he gets over that suspicious cough…..hang onto your shares
James Collins, IR at Sainsburys presented a full overview on the company, its strategy and the outlook for the coming year at the latest Yellowstone and Sharesoc webinar. The company has come through the last couple of years strongly with significantly reduced debt and a commitment to return more cash to shareholders. Some macro headwinds around but Sainsburys well placed to deal with them
Watch a recording here: Https://youtu.be/9YjvvssLlX8
Hopefully we see this hit 240 over the next three days
Nearly 10p dividend on the table not bad at all and should never be sniffed at
Especially in today hard times , all we can do is invest and you get your dividend returns :-)
Feed the world and all that .....
For the Dividend
with ex dividend date approaching maybe I can sell in the 240s ...lol
If not happy to hold medium term here, as it's well below it's NAV value :-)
Gavster-NBC I'm referring to NAV not that Total Current Assets value is any different
at these prices I think they are extremely good value, as long
as bought before 9th June, then the price needs adjusting accordingly.
I bought yesterday and topped up this morning at 227
Yep seems good value before dividend , just paid 2.27p Gla
Typically timed that well... 2.4% drop today.
Did not expect 227 before ex-div.
I've built up quite a holding since the price hit the low 230s. Handsome dividend just 3 weeks away and the daily chart since April shows divergence, a rising RSI alongside a lowering share price. I've not traded divergence before as this is the first time I've noticed it within my watchlist.
"Book price" - Do you mean net asset value or Total Current Assets ? Listed as £7.049B equivalent to a share price of 301p.
Cheers all and GL
Mulder
Queries to know where you got that figure from
on here it's 254.4 still good though, and divi in little over two weeks
Are the short sellers aware of the book price here? 360p
Price to Book 0.6
Blatant manipulation again by short selling hedge funds and like Morrisons this will get taken over - only a matter of time - probably within the next 6-12 months
Yellowstone Investor Webinar.
James Collins, Director of Investor Relations at Sainsbury’s plc will present a full overview on the company, its strategy and the outlook for the coming year. The preliminary results were announced on the 28th April which reported volume growth of 4.2% ahead of other other Big 4 supermarkets and a 25% increase in underlying profit before tax. There will be a Q&A session at the end where you can ask questions.
Wednesday 1st June at 1pm
Register: Https://us02web.zoom.us/webinar/register/7416521901800/WN_-0OelMgHT7SBY-x5bRE0SQ
Looking tempting to trade again missed todays lows of 2.25p too much focus on the Dow which finished nearly even tonite Gla