The business is growing at a slower rate than anticipated but it is still growing, and that for a company of this size is good enough for me. Growth, a 6% dividend and a PE of 12.5 in this market is fantastic value as far as i am concerned. They have both category and geographical diversification. They are vertically integrated. Management is solid and experienced. Debt levels are acceptable.
Happy to hold this as part of a well balanced portfolio.
When would i sell? If the dividend stopped growing for 2 consecutive halves and if the PE rose above 16. As long as those 2 things don't happen i can't find a good reason to exit.
The name is already at my maximum allocation in the portfolio for a single stock, so I can not buy more today. If my internal permitted it i would be buying more under $5 with great conviction.
The business is growing at a slower rate than anticipated but it...
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