FONTERRA SHAREHOLDERS FUND (FSF)
Share Price Analysis and Chart

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FSF - FONTERRA SHAREHOLDERS FUND

FNArena Sector : Dairy
Year End: July
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: N/A
Index:

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.02

23 Mar
2023

0.030

OPEN

$3.02

1.00%

HIGH

$3.03

10,561

LOW

$2.95

OTHER COMPANIES IN THE SAME SECTOR
A2M . BGA . MGC . SM1 . NUC . BUB . BFC . TFL . NUC .
FNARENA'S MARKET CONSENSUS FORECASTS
FSF: 1
Title FY23
Forecast
FY24
Forecast
EPS (cps) 59.5 xxx
DPS (cps) 27.3 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 5.1 xxx
Dividend Yield 9.0% xxx
Div Pay Ratio(%) 45.9% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 4.79%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

6.12

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 22/03 - ex-div 7.0904c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201720182019202020212022
EPS Basic xxxxxxxxxxxxxxx-
DPS All xxxxxxxxxxxxxxx18.7
Sales/Revenue xxxxxxxxxxxxxxx19.6 M
Book Value Per Share xxxxxxxxxxxxxxx271.0
Net Operating Cash Flow xxxxxxxxxxxxxxx19.6 M
Net Profit Margin xxxxxxxxxxxxxxx-

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201720182019202020212022
Return on Capital Employed xxxxxxxxxxxxxxx-
Return on Invested Capital xxxxxxxxxxxxxxx-
Return on Assets xxxxxxxxxxxxxxx-
Return on Equity xxxxxxxxxxxxxxx-
Return on Total Capital xxxxxxxxxxxxxxx-
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201720182019202020212022
Short-Term Debt xxxxxxxxxxxxxxx-
Long Term Debt xxxxxxxxxxxxxxx-
Total Debt xxxxxxxxxxxxxxx-
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx-
Price To Book Value xxxxxxxxxxxxxxx1.00

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201720182019202020212022
Capex xxxxxxxxxxxxxxx-
Capex % of Sales xxxxxxxxxxxxxxx-
Cost of Goods Sold xxxxxxxxxxxxxxx20 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx-
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx291 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

17/03/2023

3

Neutral

-

-

Fonterra Shareholders Fund reported first half profit up 50% year on year and earnings 18% ahead of Macquarie. The 10c dividend was in line. FY23 earnings guidance has been lifted to 55-75cps from 50-70cps.

Fonterra announced an intended 50c capital return in October, having previously flagged some level of capital return post asset sales.

Earnings upside is underpinned by commodity prices, Macquarie suggests, but the medium to long term growth track is largely priced in. Neutral retained, target falls to NZ$3.42 from NZ$3.52 on a higher risk free rate and cost of equity.

FORECAST
Macquarie forecasts a full year FY23 dividend of 27.33 cents and EPS of 59.49 cents.
Macquarie forecasts a full year FY24 dividend of 22.77 cents and EPS of 44.27 cents.

FSF STOCK CHART