TopPicks from Robert Gill, senior vice president and portfolio manager, Goodreid Investment Counsel
Robert Gill, senior vice president and portfolio manager at Goodreid Investment Counsel, discusses his top picks: North West Company, TC Energy, and Saputo.NWC is a retailer of food, clothing, and small appliances. Many of its stores are located in remote communities and in Canada’s Arctic and Alaska. As a result, there is limited competition, which leads to higher margins and better profitability relative to many retailers. Shares have sold off temporarily and now is a good time to add.
Shares have sold off on account of recent assets that were sold at a multiple slightly below what the market was looking for. Also, the company has announced a spin-off that will change the corporate structure of the company. Investors are concerned that management has been focused on the new corporate structure and debt reduction rather than growth. Shares trade at an attractive multiple of 11 times and have an impressive 8.2 per cent dividend yield.
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