CBY Investment Analysis Report & Stock Research, Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs

Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs (CBY)

CBY Stock Report

2-Year Price History

View Larger CBY Chart
NYSE:CBY
$52.53
(9/15 4:00PM)
+0.7%
Open$52 Mkt Cap$17.7 Billion
High$52.65 52Wk High$53.05
Low$51.85 52Wk Low$27.58
Volume1.3 Million Avg Vol 10D2.4 Million

Ockham's Rating/Recommendation Summary

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CBY Revenue

As a value investing shop, we are interested in seeing how CBY's revenues measure up against past performances. One easily understandable way of doing that is to compare Price to Sales per share levels over a given time frame. Assuming it is available, Ockham prefers to look at ten years of history (for this stock there are 10 years of history available) and we weigh recent years more heavily. This allows us to find weighted average historical high and low Price to Sales ratios, which give us a better idea of the stock's current underlying value. Using this method, we have established a high range for Price to Sales of 2.21x and the low end of the range at 1.55x.

With respect to these historically rational metrics, notice that the current Price to Sales per share ratio for CBY of 1.87x is slightly under its historical average. This level of Price to Sales gives us a fairly neutral position on the CBY shares. We would like to see a drop in the Price to Sales ratio just a little bit more (given current sales figures) before we would become more positive on a Price to Sales basis. Such a drop would increase the attractiveness of the stock but, as always, would need to be considered in the context of all other valuation factors.

CBY Cash Earnings

Cash Earnings is always one of the most important factors to review for a company and, more importantly, an investment in a stock. CBY is significantly above their historical average multiples of Cash Earnings, as calculated by our proprietary analysis. It is incredibly important to understand that for CBY, the current level of Cash Earnings compared to its historical levels helps identify where CBY is in relation to what the investing community was willing to pay for this level of Cash Earnings in the past. With a historical high Cash Earnings per share ratio of 20.46 and a historical low Cash Earnings per share ratio of 14.05, an investor can relate where value becomes optimal.

So what does this tell us about CBY in particular? Basically, we would value the current level of Cash Earnings per share (which is at 19.96) as significantly overvalued. Just by looking at the last closing price of CBY, which was $51.90, we can see that compared to the historical high Price to Cash Earnings levels we calculated, the market has already rewarded CBY with a higher stock price. So basically, we don't view this level of Cash Earnings or stock price as compatible with a long term value at this point. Just remember, that does not mean that CBY may not have other merits with which to find a good investment opportunity, it just means that we would prefer to see either an increase in Cash Earnings or a decrease in stock price before we would become bullish on this metric.

CBY Dividends

A positive Ockham rating does not require a company to pay out an inviting dividend or a dividend at all. However, we believe dividends provide a useful measure of a company's inherent expectations.

Comparable to our analysis of Sales and Cash Earnings per share, we examine dividend yields from CBY against the historic high and low levels over an available data range. Because CBY has an established history of paying a dividend to shareholders, there is value in comparing recent dividends to historical dividends. In CBY’s case, the estimated annual dividend is $1.02 producing a current dividend yield of 1.97%. The highest dividend yield from CBY in recent history was 4.23% while the lowest dividend yield was 0.75%. It is never a good sign for a company to pay significantly lower dividends, in this case 20.88% below the median yield. Although, dividends are a relatively small portion of our analysis framework, we still see this as a negative factor.

Peer Comparison

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Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs Industry Grouping

(9/14/2009)
Company Ticker Market Cap (Ml) Latest
Price
Price/Cash Earnings Price/Sales 5-Yr. Rev.
Growth Rate
5-Yr.
Avg. ROE.
Current 10-Yr. Range* Current 10-Yr. Range*
Peer Company Averages (not incuding CBY) 11.02 7.12 » 21.89 1.57 0.92 » 2.80 11.11% 29.08%
*10 year range does not include current year values
Companhia de das Bebidas Americas ADS AmBev PF ABV $20.8 Billion $77.19 13.83 5.91 » 25.30 3.70 1.36 » 6.15 24.26% 14.08%
General Mills, Inc. GIS $19.7 Billion $60.58 11.28 8.59 » 34.91 1.37 1.03 » 3.34 5.82% 21.64%
Kellogg Company K $18.6 Billion $48.52 11.72 9.56 » 15.04 1.41 1.12 » 1.95 7.79% 50.78%
Archer Daniels Midland Company ADM $18.4 Billion $28.65 7.63 3.56 » 15.60 0.28 0.13 » 0.84 13.87% 14.20%
Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs CBY $17.7 Billion $52.16 19.96 4.33 » 38.00 1.87 0.85 » 2.45 -7.36% 20.04%
H.J. Heinz Company HNZ $12.6 Billion $39.90 10.62 7.97 » 18.59 1.09 0.95 » 1.74 3.82% 44.72%

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The Latest Financial News
3:42:21 PM CBY $52.60 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
5 hours ago (09/15)
Premium Content - please sign up for Ockham PREMIUM to gain full access and to see what Countdown to the Closing Bell said about CADBURY PLC - SHS AMERICAN DEPOSIT RECEIPT REPR 4 SHS - CBY on Countdown to the Closing Bell Learn About RazorWire?
8:38:39 AM CBY $51.91 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
12 hours ago (09/15)
“…5,500 employees, to save $1B by 2011.Intuit Inc. agreed to buy personal-finance site Mint.com for $170M.Kraft Foods is considering formal offer for CADBURY, Chief Rosenfeld says.Lubrizol raises 2009 EPS view to $6.10-6.40 on better volumes, lower costs.Munich Re CEO: Company will resume buying back its own shares in 2009.Pall Corp.'s Q4 net falls 0.6% to $69.5M; revs down 9.9% to $652M.Sasol's full year net fell 39% to $1.81B on lower crude, …” - CBY on Zero Hedge
5:37:05 PM CBY $52.16 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
1 days ago (09/14)
Premium Content - please sign up for Ockham PREMIUM to gain full access and to see what Fast Money said about CADBURY PLC - SHS AMERICAN DEPOSIT RECEIPT REPR 4 SHS - CBY on Fast Money Learn About RazorWire?
9:55:00 AM CBY $51.72 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
1 days ago (09/14)
Premium Content - please sign up for Ockham PREMIUM to gain full access and to see what The Opening Bell on Fox Business said about CADBURY PLC - SHS AMERICAN DEPOSIT RECEIPT REPR 4 SHS - CBY on The Opening Bell on Fox Business Learn About RazorWire?
8:37:28 AM CBY $51.82 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
1 days ago (09/14)
“…AG for $150M cash plus as much as $439M in milestones.Appeals court affirmed verdict that Microsoft products infringed an Alcatel-Lucent patent.CADBURY Chairman says 'low-growth' Kraft's $16B offer 'unappealing'.Campbell Soup's Q4 net down 22% on write-downs. Revs slip 11% to $1.53B.Deutsche Telekom hire Deutsche Bank as adviser to assess possible takeover bid for Sprint Nextel.EnCana Corp. to get $3.5B from splitting off its oil sands …” - CBY on Zero Hedge
8:02:30 AM CBY $51.82 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
1 days ago (09/14)
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7:02:29 AM CBY $51.82 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
1 days ago (09/14)
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6:16:53 AM CBY $51.82 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
1 days ago (09/14)
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1:28:54 PM CBY $51.78 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
4 days ago (09/11)
“…There's somewhere between $1 trillion and $2 trillion worth of debt that has to be there will be tremendous capital market activity. The banks aren't going to there's some big m & a. We have seen this situation with CADBURY, but it's kind of few and far between, and that will pick up as the economy picks up. Right now most of the m & a that we see are difficult problem deals. So we're in a period that's still recovering from all the chaos that occurred. >> how many bankruptcies are we going to see in the next year? Are we past the worst or when you talk about all that debt that needs to be restructured, opportunity, but are the credit markets going to be loose is the economy going to improve enough so their revenues start to rise? >> I think so. But there still will be many more bankruptcies, but -- and a …” - CBY on Power Lunch
1:03:03 PM CBY $51.82 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
4 days ago (09/11)
“…Morgan stanley, particularly a year ago right now when things were in trouble. Reflection. I think it's short term. >> mr. Mack will be with us next segment. Of mergers these days. We were commenting the other day when there was talk about CADBURY, maybe a sale there we stepped back and said, you know, look at us, we're talking about deals again. Deals are happening again on wall street, aren't they? >> enjoy it because it may be pretty short-lived. >> why? >> because there's been a real structural change in the m & a business that's occurred in the last year. First of all, private equity has ground to a halt because the credit is not available, and the private equity segment of the m & a market two years ago, let's say, was somewhere between 35% and 45%. That's gone down to 0%. Secondly, credit is still very, …” - CBY on Power Lunch
5:30:13 PM CBY $51.90 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
5 days ago (09/10)
“…I like imbev. And they want to add to their portfolio because becoming fewer and fewer players. >> lastly in your space, how about japan sant ori today. We're starting to see calendar nation that space. Kraft going arch CADBURY. The space everywhere and the >> and like ahead of the summer driving season, gasoline prices go up, guess when beer prices go up ahead of the football season? >> we should note that this actually comes from the arthritis research campaign. Headquartered out of london. This is probably one reason why you cannot believe everything that you read on the inter web. So children out there -- >> this is not a fair fight. >> I don't know if this -- >> I do not think that soft drinks and interfere is a fair >> I agree. >> beer will always win. >> do you want a coke or a beer? >> a much bigger market in soft drink, I tell you that. …” - CBY on Fast Money
9:17:21 AM CBY $52.29 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
5 days ago (09/10)
“…Privately held japanese beverage group are in talks of buying orangina from blackstone and lion capital. They bought this property for $2.6 billion, strangely enough, from, I believe it was CADBURY, not that long back. A lot of the are reknew from orangina comes from western europe. It was bought from CADBURY for $2.2 billion, maybe a bit more, only three years ago. Interesting to note, of course, another potentially large deal, suntory only saying at this point they are negotiating. And again, we're relying here on the "journal"'s reporting, not my own on where things stand on that potential deal which could exceed $2.6 billion. Of course, privately equity, very interesting. You know, m and a is starting to no doubt about that. But it is wholly strategic in the likes of a craft for CADBURY …” - CBY on Squawk On The Street
5:15:24 PM CBY $51.80 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…Sector today moving the market higher. Morgan stanley certainly leading the group higher on an upgrade from jpmorgan, eyer up by element 3%. Also there's a lot of chatter about all the fees these guys will earn on the back of all that m&a action that we've seen for kraft-CADBURY-f that in fact goes through. Goldman sachs as well as others could share about $91 million. >> morgan stanley has struggled to get above 30 bucks so far this year, but it is up 72% on the year, and if you look at what morgan stanley is doing right now in the business model they are focusing a lot on m&a activity. Leaders there. Going to show up as well as the revenue they get from smith and let's also not forget, they are ramping up their trade operation, which means they're taking more risk. >> asset management still the place to be in my opinion. Raymond james up 4% today. Take a look at rjf. >> and the canary still goldman …” - CBY on Fast Money
3:56:56 PM CBY $51.82 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…Saying the do it yourself management is missing. >> stocks down 4.8%. >> sandra mentioned hershey. Keep an eye on them. They may make a bid for CADBURY after CADBURY saying no to craft's offer yesterday. >> s&p 500 leader today is jen worth financial. The mortgage insurer expects the demand to increase. The stock up over 9%. Number four is corn bury international. This is a recruiting firm. >> stock up 7%. …” - CBY on Countdown to the Closing Bell
10:18:26 AM CBY $52.01 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…In cac quarante and up more than the gains as we wait for the >> 165.50 against the british now, some major investors say they support the idea of a deal with kraft. They say that kraft and CADBURY are a good fit and you know, as we improve on that offer that was rejected, the CADBURY shears after surging on the news of this initially, down initially in trading in london. 72 london bankers suing a unit of commerce bank for 49 million bucks in unpaid bonuses. The current and former employees filed their claim in the u.K. Court, asserting that guess what, they paid just 1/10 of a money they say they are entitled to receive and consumer confidence in the u.K. Rising to its highest level in more than a year in august. Signs that perhaps the economy in the british isles is emerging from recession. Rising to 63 the highest level …” - CBY on Fox Business
10:03:46 AM CBY $51.97 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…be very cheap because of worries about Obama’s health care plan. And biggest of all, mac and cheese buying chocolate. Kraft’s $16 billion run at CADBURY yesterday to give the whole food industry a jolt. You wouldn’t get these kinds of deals unless stocks are cheaper, not more expensive than we think. I always say nothing like real companies buying other real companies to demonstrate the worth of stock.” — CNBC’s Mad Money 9/8/2009 He makes …” - CBY on The Razor's Edge
10:03:46 AM CBY $51.97 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…company unless they believe they are getting a compelling value. Some of the underlying value in these deals, like in the case of Kraft (KFT) and CADBURY (CBY) may be in the form of synergies and the ability to cut costs and redundancies, but it is a somewhat bullish trend nonetheless. The chart to the right shows each stock that was mentioned on Tuesday’s Mad Money. To see a full recap, please visit our Mad Money recap page. Cramer: M&A …” - CBY on The Razor's Edge
9:27:26 AM CBY $51.97 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…Let's open it up to round three and see what else they're looking for, ashley. Ashley: a quiet day, we have the beige book out at 2 p.M. Eastern and could perhaps have some impact, but I don't think that commodities are driving the market as much today. Keep an eye on CADBURY and kraft, kraft talking about cost saving to generate more money for an offer of CADBURY. Alexis: connell. Connell: watching the big conglomerates like ge up in the pre-market and they call it the ism manufacturing rises above 50 sustainbly, a 52.9 in august, the companies tend to outperform. Alexis: and goldman is very bullish right now. Probably the most bullish out on connell: and j.P. Morgan yesterday seemed to have a pretty bullish look and ge as I was looking at the chart of if it breaks 15 that will be the first time since january. Alexis: breaks up through it. >> yes, breaks up through it. You know, i, like everybody …” - CBY on The Opening Bell on Fox Business
9:02:13 AM CBY $51.80 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…Cac 40 also up 22, 23 points, that's up about1/2 a percent and here in london on the ftse up 37, 38 points on the up seed by3/4 of a percent. Some support the idea of a deal with kraft. They say that kraft and CADBURY are a good fit, but it will take more than 16.7 billion dollars currently being offered. The shares down slightly in london right now, 72 london bankers are selling dresner clieps kleins worth, for unpaid they assert they've been paid 1/10 of the money they're entitled to receive ap consumer confidence in the u.K. Rising to its highest level in more than a year in august and signs are emerging from the recession and as robert just mentioned the dollar weaker, definitely …” - CBY on The Opening Bell on Fox Business
8:47:22 AM CBY $51.92 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…In certain regions of the country and that is key to finding some direction did today's trading session but meanwhile some stocks focus once again CADBURY they received a 16.7 billion dollar takeover from kraft food yesterday with a 30% gain the stock is trading slightly higher in the pre-market session after kraft announced it plans to boost productivity and cost savings plan to shake up the balance sheet in order to prepare for a takeover. Both kraft and CADBURY had been climbing in the pre-market session also another dow component is mcdonald's reporting same-store sales for the month of august. U.S. Sales were up 1.7% almost a full percentage point below expectations so the stock is trading below the closing value. Those are the stocks that traders will be watching but also some groups to watch it will be those commodities we have crude-oil prices, gold …” - CBY on Money For Breakfast
8:37:51 AM CBY $52.00 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…as expenses rose lower than revs.Geely Holding makes $2B offer for Ford Motor Co.’s Volvo Cars unit.Kraft said to seek $8B in financing for possible CADBURY takeover.Lenovo's shares fall 5.5% on stake sale by TPG, General Atlantic & Newbridge Capital.Neiman Marcus's Q4 loss widens to $168.5M on charges, sharp discounts.NYSE Euronext plans to sell stakes in American stock exchange options unit.PetroChina's parent CNPC receives $30B loan for …” - CBY on Zero Hedge
8:04:15 AM CBY $51.90 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…Numbers for you. The ftse here in london up 1/2% or 28 points or thereabouts. The cac-40 in paris also up and guess what? The dax 30 index in frankfurt germany also up by about 1/2%. We have been in the same tight trading range for many hours some CADBURY investors say they support the idea of a deal with kraft especially of course if kraft sweetens its offer. The investors say kraft and CADBURY are a good fit, they say, but they also say that kraft's near 17 billion dollars offer way too low. CADBURY shares though up again today 1/2% in london. Meantime, consumer confidence in the u.K. Rose to the highest level in more than a year in signs are mounting that the economy may just be emerging from recession and index sentiments rose to 63. That by the way the highest level since may of last year. So finally some optimism in the british isles. That's the latest from europe. Let's go back to alexis in new alexis: ashley thank you very well, president obama lays down the line on healthcare in a prime-time address this evening. It is to a joint session of congress and the american people. …” - CBY on Money For Breakfast
7:55:23 AM CBY $51.88 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
6 days ago (09/09)
“…Sold, greater than 4% by 2011. All this, I guess, in some ways in response to -- I looked that guy up, that wrote the heard on the street column yesterday basically saying CADBURY was right to say this was nothing of an offer and snubbed their nose at t he's from wall street europe or dow jones europe, based in paris. On holidays, they're always looking for a heard on the street. So, throw in something else. It seemed like it was a little different tone. >> saying that rosenfeld from kraft, a woman who has had a string of successes. Don't underestimate. >> the heard on the street column said kraft is less than where it was when it was spun out had and her management is obviously in question. …” - CBY on Squawk Box
6:21:14 PM CBY $51.80 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…The great education they can get at firms like options express, the tools that professional hz ten years ago that they have right at their fingertips today. >> david, are people using them wisely or are we seeing this weekend we get kraft buying CADBURY, are we seeing a massive number of out of the money call buying in food stocks just hoping that that will be the next one? That's part of it, right? >> well, let me tell you, I have people using it exactly the way they're supposed to. I'll give a couple stats that will hone in on that. Our assets are at $6 billion. Customer assets at $6 billion. All-time high. As customers were using these products inappropriately after what the market's been through last year, do you any we'd have a high -- >> that's a great empirical >> our average age of our quuft is 50 years of age. These are people, not young people gam wblg their money. These are people investing wisely using these products to …” - CBY on Mad Money
6:06:43 PM CBY $51.81 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…Who the heck are they? They're acquiring sepracorp. An american drug company that may be very cheap because of worries about obama's health care plan. And biggest of all, mac and cheese buying chocolate. Kraft's $16 billion run at CADBURY yesterday to give the whole food industry a jolt. You dent get these kinds of deals unless stocks are cheaper, not more expensive than we think. I always say nothing like real companies buying other real companies to demonstrate the worth of stock. How about reason number two? We have been deluged with money flooding into this market from the sidelines. As people are beginning to put the lehman brothers-led depression from one year ago behind us. That means earnings should look far better year over year. And everyone on wall street likes these easy comparisons. It will energize the public to put even more in. …” - CBY on Mad Money
5:37:43 PM CBY $51.81 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…One or the other, guys. Got to be true to your principles don't vote for hypocrites. Republicans and democrats you're done. Fight them. Rebecca: on that note, the kraft, CADBURY, a really all the chocolate and food going to be made in china, india, brazil. Cody: worst part in two years when the company bought back all the stock and levered up you will have to bail them out to keep them solvent of the got to save the jobs. Rebecca: gee. Time for "the diamond district", folks. On back to school tuesday, president obama recalling a restless youth on his path to the presidency and in his speech today. Mr. Obama challenging american kids to excel just like he did, despite many challenges in that back to school speech that sparked …” - CBY on Happy Hour
5:36:37 PM CBY $51.81 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…He was a bankrupt idiot. Don't listen to keynes! Think for yourself. >>> number two, department of justice, we have these laws in this country. They are anti-trust laws. They were put in place for a either you enforce them and don't let kraft and CADBURY roll up every confessioner in maker on planet and cut all thousands of jobs keeping those companies or you don't bail them out at the end, guys. You bail people out. Therefore I want you to no more consolidation of the big giants. Costing poor rebecca all of these jobs in america. >>> finally, number three, guys, the gang of six, this bipartisan committee supposedly getting figuring out your health care reform, it ain't health care reform. It is more of the same. …” - CBY on Happy Hour
4:00:37 PM CBY $51.89 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…Tuesday after a long holiday weekend. We have a deal to talk about. Craft with a bid on the table for chocolate maker cad bury, CADBURY saying, no. Shares rallying 38% in today's healthcare stocks not hanging in there. Lots of anticipation and concern for the president's speech tomorrow night. Finishing up 54% higher on the >> imagine the turn around for we expected at the beginning of the day gold would go up to 1,010. In fact it's negative from where it last ended on the nymex. >> meanwhile, the dow is up. …” - CBY on Bulls & Bears
3:57:33 PM CBY $51.94 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…Chp. Fiscal second quarter revenue beat earnings and estimates. Electrical power storage company said the growth margin improved as well. Stock is up 16%. Nice day for the finally number one, talking all day about CADBURY. [brief pause in captioning] …” - CBY on Countdown to the Closing Bell
3:36:31 PM CBY $51.88 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…“$16.7 billion, hard to believe that’s hostile but the CADBURY’s board saying it’s more like an offer of chocolate-covered liver which is not very palatable. Sweeten the deal and we mean more cash. What Kraft has offered CADBURY is a deal that would be roughly financed through cash and 60% in stock and CADBURY wants a little better on that. So here we spoke with Irene Rosenfeld, the CEO of Kraft. She had a telephone conference this morning to discuss why Kraft foods, one of the giants in the food industry, wants to take on CADBURY and grow in markets like Mexico and India. And she said during this it was about growth and that she doesn’t think CADBURY can go it alone… Kraft very strong right now. They’re on a trajectory for growth and everyone expecting they will have to up this deal. As far as mergers and acquisition, they’re happy in that world. I spoke to Harrison Williams and Kraft is confident in the valuation of their stock and able to get the cash financing they need to go forward and everybody seems to think this is a good deal except for CADBURY…” Fox Business Network 9/8/2009 On Monday, Kraft Foods (KFT) went public with its offer to acquire CADBURY Plc (CBY), the British confectioner, for about $16.7 a premium of 31% based on Friday’s closing price. The board of CADBURY almost immediately rejected the proposal, which has been hashed out in private talks prior to the announcement. CADBURY believes that the offer “fundamentally undervalues” the company, and are anticipating a better offer. That being said, CADBURY feels confident in their company’s ability to go it alone if that better offer does not materialize. The market has rallied around CADBURY’s shares and the confidence of management as the stock is up 38% Tuesday. CADBURY is the second largest candy maker in the world, and hopes that perhaps this could lead to a bidding war between rivals. Hershey’s (HSY) would be a possible suitor, as they already have deals to distribute some of CADBURY’s products in the US. However, Hershey’s is smaller than CADBURY and the price is likely prohibitive as they only had $28 million in cash on the balance sheet as of their last reporting. We thought the offer from Kraft was actually a pretty good deal for CADBURY. The fact that so much of the proposed buy-out comes in the form of Kraft stock is a stumbling block because it is variable. Some analysts speculate that if Kraft were to offer more cash instead of stock, it would be more acceptable. According to our methodology, Kraft stock appears Undervalued at present and could have substantial price appreciation potential going forward. We had a neutral Fairly Valued rating on CADBURY at its previous price of about $37, so with the price now in the low $50’s it is far less attractive. There is no doubt that CADBURY has grow potential and would make a strong addition to Kraft Foods products, but Kraft may not be inclined to raise the purchase price much. CADBURY management has taken a gamble in hopes of getting a better deal, but it could be the shareholders left with a bitter taste in their mouth if a better offer doesn’t materialize. At the very least, we would expect that further talks could drag on for some time. CADBURY Tells Kraft to Sweeten …” - CBY on The Razor's Edge
3:17:57 PM CBY $51.66 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…>> liz: stock of the day, shares of the candy maker soaring after kraft made an unsolicited takeover offer for the company. News broke today. CADBURY rejected the cash and stock deal valued it at close to $17 billion. Kraft says it's intent on pursuing the deal. Many expect the maker of oreo cookies to raise the bid. Right now, kraft is down 5%. What is interesting is if you were looking at the department of justice talking about what are fair merger and acquisitions they probably would mind less if kraft took over catbury than if hershey or nestle. They are chocolate company and they "america's most wanted" look on the industry. CADBURY, fruit and nut. Have you had it? We need to fix that. The best chocolate. Time for the floor show, traders a in the new york stock exchange, cme and john at the ice, first. Oil, skyrocketing today on what is that about? >> well, you know what? Long weekend, came back in this morning. Got the dollar down and gold is rallying like crazy. And a lot of the traders came in with the buy shoes on. They started to pursue the we got sort of bullish news out of china they'd ramp up the refinery runs. …” - CBY on Countdown to the Closing Bell
3:12:38 PM CBY $51.61 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…>> technology. Infrastructure plays, industrial plays. All of these areas is where I think the money should be going. The more defensive areas don't offer values. There are exceptions like CADBURY. The positive economic growth is going to drive the cyclical side with health care you have a big question mark about reform. '92, '93, all the health care stocks went down. I would be cautious there. >> clark, real quick as far as international investing. Do I want to be exposed all around the world or is there is a vulnerability that the economic recovery doesn't have traction? >> I think it has to be around the miracle in the u.S. Was the other great landmasses were …” - CBY on Closing Bell
3:07:31 PM CBY $51.63 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…Tobias letfivich, citigroup, equity strategist and managing director will spend the last hurt of trading with great to see you. Welcome to fox business. >> we were just talking about the sugar tax. On a day where craft caft makes a $70 billion play for CADBURY, of course, there is the sugar involved. It gets the market juiced up. What is your outlook? You have new forecast. >> for year end 2010. Where we say we think the market will close at 1100. We may trade above it earlier in the year and we think around mid-year you will see the challenges. It could be the fed raising rates or learnings growth won't be as favorable going forward as looking back the last couple of quarters. Things like that. For this year, we see 1,000 …” - CBY on Countdown to the Closing Bell
3:03:12 PM CBY $51.62 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…We've been trading in a tight trading range for most of the trading session today. But it has been all about some of the individual movers in the market. We will look at how the gold and oil will be effecting some of the stock. Take a look at the hour. CADBURY, of course, this is a big story where kraft put out the $16.7 billion offer for CADBURY. They turned it down. Of course, CADBURY still opening to listening to further negotiation and possibly could see nestle and hershey come in the picture. Stock is up 30%. General electric up 5%, higher on upgrade from jpmorgan saying this is one of the last stocks with the little bit of good news can go a long way. That stock is up 5%. Harley davidson, hog. Citigroup analyst looking at the stock upgrading the shares to a hold rating saying it is saving itself from wiping out. They look at the numbers and say hey, we are actually seeing the sales going higher there. …” - CBY on Countdown to the Closing Bell
2:45:47 PM CBY $51.64 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…Growth around the world. >> last question. A company which, jim, by many measures has not been a top >> true. >> ceo incredibly highly just laying the facts outs. Are they doing this deal buying CADBURY for $17 billion, is this a sign of strength as the market would like to think or a sign of weakness as in they can't get their own growth? >> I have seen all my life food companies not getting growth. I would buy kraft. I think it's a good decision by irene -- jo are you confident in the management? >> no, not at all. I have not felt good things if I were CADBURY, I would turn around and see if the new management at hershey wouldn't be willing to do a deal to sell hershey and let the trust say >> there is that key trust issue, hershey -- CADBURY should buy hershey. Kraft you by on the short term but not confident in management. >> I don't think rosenfeld -- she obviously haenlsn't done a good job. There's a pulse at kraft beyond mac and sleaze. >> good to be back. >> talk to you tomorrow. Much more of jim tonight at 6:00 and 11:00 eastern right here on >>> now, let's talk about america's newest addiction. If we can get rid of the oil one, we've got another one. It's in a lot of minerals we don't know how to pronounce. …” - CBY on Street Signs
2:35:01 PM CBY $51.65 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…>> I have david henderson from drew stock here, liz and one big question that we have right now is, you know, you look at the big board, we're up 40 points. Everybody is coming back from the long labor day weekend. Deal on the table. Kraft offering to buy CADBURY. Commodities prices soaring. We have don't have much of a gain on the big board. A lot of optimism coming in the day based on the deal and the commodities rallies. Why not a bigger gain? >> i'm not sure why. Great question to be asking. I think what happened is, you know, everyone said hey, everyone will be back at work all of a sudden, sort of the proverbial do-do will hit the fan and all over the place and market will head south. That's not happening at all. The merger mania thing going on, we had a little over the past few months. Some of the sharp corporate management officials run well …” - CBY on Fox Business
2:03:16 PM CBY $51.60 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…The trading session. It boosting the exxon, vefron and conoco-phillips up 2%. All about the commodities, including the chocolate. The big deal is CADBURY in a deal for CADBURY, $16.7 billion deal offered in cash and stock by kraft foods. Kraft, the acquirer, is trading down but CADBURY up 38%. CADBURY turned down the offer but kraft said on a conference call today they'll remain open and keep negotiations friendly. The traders love to talk about deals. Toss it to phil flynn at the cme group more more on commodities. >> thank you, sandra. They are talking about chocolate is getting me hungry. The bulls are hungry in the commodity complex. Crude oil is back up $3.23. Really this started with the g-20 over the weekend. The g-20 says we'll keep pumping the stimulus in the system and it sent the dollar …” - CBY on Fox Business
2:02:38 PM CBY $51.61 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…Right now up about 31 points for the dow jones industrial obviously, the deal story related to food. Kraft with his hostile bid for CADBURY says go take a hike. But nonetheless people are encouraged there could be active activity in the food sector for deals. We have two key speeches from president obama in just two days now that everyone is back to today is education. Tomorrow a joint address to congress on health care. Now, in health care obviously a lot of talk is going to be on the public option. We have the ceo of fred, I want to bring you in here just to give your throw, your take on a public option. As someone who has run several big pharmaceutical companies, is …” - CBY on Street Signs
1:41:05 PM CBY $51.73 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…This is a trend all around the remember, please, california's laid off 20,000 teachers. We've got some bitter feelings in the candy business. CADBURY rejecting kraft but there may still be a takeover in the future. Sandra smith if he new york what's this all about, sandra? >> craft, stuart, has made a $16 billion unsolicited deal at about a 31% premium to where they closed last friday, about $48.79 a share. The stock is way up on this. However, CADBURY said this fundamentally undervalued company, they turned down the deal for krouft and the conference call saying that CADBURY windchill is -- has limited opportunities as a stand-alone company. So they said they're gonna keep negotiations friendly and they're going to be continuing to open the door to further negotiations. Chocolate maker CADBURY saying no to the offer on the table. >> $16 billion bid is a big deal anyway you slice it. A lot of you e-mailed us about our friday's segment with environmentalist tyson slocum. Did jones say he was a great green jobs czar? Mike in mississippi didn't like he wrote: that's a good question. …” - CBY on Fox Business
1:14:15 PM CBY $51.62 Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs
7 days ago (09/08)
“…P gap, symbol gps got upgraded to outperform by credit suisse today and dr. Pepper at a two-week high. When you look at this CADBURY deal do you look for consolidation within the entire >> that's a 352-week -- let's get to our market rop reporters. The dow up by 20 points. We'll start out with matt nesto. I can say 50 cent. I can't say el nesto. >> whatever works, right? If I look at this marketplace, we're not getting anything going got plenty of fire, but can't the dow is up 20 points right it's the same three leadership …” - CBY on Power Lunch
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Key Fundamentals

CBY - Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs Fundamentals
Price (9/15 4:00PM) $52.53
Volume (9/15 4:00PM) 1.3 Million
Last Close Price $52.16
10 Day Average Volume 2.4 Million
13 Week Price Range $33.74 - $53.05
52 Week Price Range $27.58 - $53.05
LTM Revenue $7.8 Billion
 
Shares Outstanding (12/2008) 340.2 Million
Market Capitalization $17.7 Billion
Shares Held By Institutions 60.0 Million
Institutional Holders 194
% Shares Held By Institutions 17.60%
Earnings Per Share (EPS) $1.32
P/E Ratio 39.50
Book Value Per Share $14.91
 
Gross Margin 51.10%
Annual Dividend 1.02
Dividend Yield 1.90%
Beta 0.84
Fiscal Year Ends December

About Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs

Cadbury PLC - Shs American Deposit Receipt Repr 4 Shs is considered to operate in the Consumer Goods sector. They specifically operate in the Confectioners business segment contained within the Food & Beverage industry.

The Company, together with its subsidiaries, is engaged in the confectionery business worldwide.