On Monday, Cracker Barrel Old Country Store (NASDAQ: CBRL ) will release its latest quarterly results. But with the stock having recently hit all-time record highs, can the restaurant chain's earnings deliver enough to justify its stock's performance?
If you've ever taken a road trip, you've probably seen plenty of Cracker Barrel locations along the way, as the company has more than 600 locations across the nation. What sets Cracker Barrel apart from most chains is the fact that it has gift shops connected to its restaurants, combining a retail business with its primary food exposure. Let's take an early look at what's been happening with Cracker Barrel over the past quarter, and what we're likely to see in its quarterly report.
Stats on Cracker Barrel
Analyst EPS Estimate
$0.94
Change From Year-Ago EPS
Best Gold Stocks To Own For 2015: Raymond James Financial Inc (RJF)
Raymond James Financial, Inc. (RJF) is a financial services holding company whose subsidiaries are engaged in various financial services businesses predominantly in the United States of America and Canada. At September 30, 2011, its principal subsidiaries include Raymond James & Associates, Inc. (RJ&A), Raymond James Financial Services, Inc. (RJFS), Raymond James Financial Services Advisors, Inc. (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc. (Eagle), and Raymond James Bank, FSB (RJ Bank). All of these subsidiaries are wholly owned by RJF. In April 1, 2011, the Company acquired Howe Barnes Hoefer & Arnett (Howe Barnes). The Company operates through eight business segments: Private Client Group, Capital Markets, Asset Management, RJ Bank, Emerging Markets, Securities Lending, Proprietary Capital and various corporate activities combined in the Other segment. In April 2012, Regions Financial Corporation sold Morgan Keegan & Company, Inc. and related affiliates to RJF.
PRIVATE CLIENT GROUP
The Company provides securities transaction and financial planning services to approximately two million client accounts through the branch office systems of RJ&A, RJFS, RJFSA, RJ Ltd. and Raymond James Investment Services Limited (RJIS), a joint venture in the United Kingdom. Its financial advisors offer a range of investments and services, including both third-party and products, and a variety of financial planning services. The Company charges sales commissions or asset-based fees for investment services it provides to its Private Client Group clients based on established schedules. Varying discounts may be given, generally based upon the client's level of business, the trade size, service level provided, and other relevant factors. During the fiscal year ended September 30, 2011 (fiscal 2011), the portion of revenues from this segment that the Company considers recurring include sources, such as asset-based fees, including mutual fund and annuity trailing commissions, ! and interest income and represented approximately 61% of the Private Client Group's total revenues. Its financial advisors offer a number of professionally managed load mutual funds, as well as a selection of no-load funds. RJ&A and RJFS maintain dealer sales agreements with distributors of mutual fund shares sold through broker-dealers.
The Company�� principal subsidiary, RJ&A, is the full service brokerage and investment firm headquartered in the state of Florida and with over 220 locations throughout the United States, is a retail brokerage firms in the country. RJ&A is a self-clearing broker-dealer engaged in most aspects of securities distribution, trading, investment banking and asset management. RJ&A also offers financial planning services for individuals and provides clearing services for RJFS, RJFSA, other affiliated entities and several unaffiliated broker-dealers. RJFS is an independent contractor brokerage firms in the United States., is a member of Financial Industry Regulatory Authority (FINRA) and Securities Investors Protection Corporation (SIPC), but is not a member of any exchanges. Financial advisors affiliated with RJFS may offer their clients all products and services offered through RJ&A, including investment advisory products and services which are offered through its affiliated registered investment advisor, RJFSA. RJ Ltd. is its Canadian broker-dealer subsidiary, which is engaged in both retail and institutional distribution and investment banking. RJ Ltd. is a member of the Toronto Stock Exchange (TSX) and the Investment Industry Regulatory Organization of Canada (IIROC). Its United States broker-dealer subsidiary is a member of FINRA and SIPC.
CAPITAL MARKETS
Capital Markets activities consist primarily of equity and fixed income products and services. Its institutional clients are serviced by institutional equity departments of RJ&A and RJ Ltd.; the RJ&A fixed income department; RJ&A�� European offices; Raymond James Financial Intern! ational, ! Ltd, an institutional UK broker-dealer, and Raymond James European Securities, Inc., a joint venture, in which the Company hold a controlling interest. The Company charges commissions on equity transactions based on trade size and the amount of business conducted annually with each institution. Fixed income commissions are based on trade size and the characteristics of the specific security. Some European and United States offices also provide services to high net worth clients. RJ Ltd. has approximately 40 institutional equity sales and trading professionals servicing predominantly Canadian, United States and European institutional investors from offices in Canada and Europe.
Trading equity securities involves the purchase and sale of securities from and to its clients or other dealers. RJ&A makes markets in over 900 common stocks. The RJ Ltd. trading desks not only support client activity, but also take positions that are closely monitored within well defined limits. RJ Ltd. also provides specialist services in approximately 150 TSX listed common stocks. RJ&A trades both taxable and tax-exempt fixed income securities. The taxable and tax-exempt RJ&A fixed income traders purchase and sell corporate, municipal, government, government agency, and mortgage-backed bonds, asset-backed securities, preferred stock and certificates of deposit from and to its clients or other dealers.
Fixed income investment banking includes debt underwriting and public finance activities. The syndicate department consists of professionals who coordinate the marketing, distribution, pricing and stabilization of lead and co-managed equity underwritings. In addition to lead and co-managed offerings, this department coordinates the firm's syndicate and selling group activities in transactions managed by other investment banking firms. Raymond James Tax Credit Funds, Inc. (RJTCF) is the general partner or managing member in a number of limited partnerships and limited liability companies. These partnershi! ps and li! mited liability companies invest in real estate project entities that qualify for tax credits under Section 42 of the Internal Revenue Code.
ASSET MANAGEMENT
The Company�� Asset Management segment includes the operations of Eagle, the Eagle Family of Funds (Eagle Funds), the asset management operations of RJ&A (AMS), Raymond James Trust, and other fee-based programs. The majority of the revenue for this segment is generated by the investment advisory fees related to asset management services for individual investment portfolios and mutual funds. Investment advisory fees are also earned on assets held in managed and non-managed programs. Eagle Fund Distributors, Inc. (EFD), a wholly owned subsidiary of Eagle, is a registered broker-dealer engaged in the distribution of the Eagle Funds. The Eagle Funds utilize unaffiliated sub-advisors for the Capital Appreciation Fund and International Equity Fund. The Small Cap Growth Fund, Mid Cap Growth Fund, Growth and Income Fund, Large Cap Core Fund, Mid Cap Stock Fund, Investment Grade Bond Fund, and Small Cap Core Value Fund are managed by Eagle.
AMS
AMS manages several investment advisory programs which maintain an approved list of investment managers, provide asset allocation model portfolios, establish custodial facilities, monitor performance of client accounts, provide clients with accounting and other administrative services, and assist investment managers with certain trading management activities. In addition, AMS offers additional managed accounts managed within fee based asset allocation platforms under its Freedom accounts and other managed programs. Freedom�� investment committee manages portfolios of mutual funds, exchange traded funds and separately managed account models on a discretionary basis. AMS also provides certain services for their non-managed fee-based programs (Passport, Ambassador and other non-managed programs). They provide performance reporting, research, sales, accounting, trad! ing and o! ther administrative services. Client fees are based on the individual account or relationship size and may also be dependent on the type of securities in the accounts.
Raymond James Trust, National Association, (RJT) provides personal trust services primarily to existing clients of its broker-dealer subsidiaries. Portfolio management of trust assets can be subcontracted to its asset management operations. This subsidiary had a total of approximately $2 billion in client assets at September 30, 2011, including nearly $120 million in the donor-advised charitable foundation known as the Raymond James Charitable Endowment Fund.
RJ BANK
RJ Bank is a federally chartered savings bank, regulated by the Office of the Comptroller of the Currency (OCC), which provides corporate, residential and consumer loans, as well as Federal Deposit Insurance Corporation (FDIC) insured deposit accounts, to clients of our broker-dealer subsidiaries and to the general public. RJ Bank is active in corporate loan syndications and bank participations as well as purchases residential whole loan packages to hold for investment. RJ Bank generates revenue principally through the interest income earned on loans and investments, which is offset by the interest expense it pays on client deposits and on its borrowings.
RJ Bank�� assets include C&I loans, commercial and residential real estate loans, as well as consumer loans that were purchased or originated by RJ Bank. Corporate loans represent approximately 75% of RJ Bank�� loan portfolio of which 90% are Shared National Credits (SNC) or other large syndicated loans. RJ Bank purchases and originates corporate loans secured by corporate assets, commercial and industrial (C&I) loans, commercial and residential real estate loans, as well as consumer loans, all of which are funded primarily by cash balances swept from the investment accounts of our broker-dealer subsidiaries��clients.
EMERGING MARKETS
Raymond! James In! ternational Holdings, Inc. (RJIH), through its subsidiaries, has interests in operations in Latin American countries including Argentina, Uruguay and Brazil. Through these entities it operates securities brokerage, investment banking, asset management and equity research businesses. In fiscal 2011, approximately 75% of this segments��investment banking revenues arose from one client.
SECURITIES LENDING
This segment conducts its business through the borrowing and lending of securities from and to other broker-dealers, financial institutions and other counterparties. The Company conducts these activities as an intermediary. Securities Lending will also loan customer marginable securities held in a margin account containing a debit to counterparties. The borrower of the securities puts up a cash deposit on which interest is earned. The lender in turn receives cash and pays interest. These cash deposits are adjusted daily to reflect changes in the current market value of the underlying securities. Additionally, securities are borrowed from other broker-dealers to facilitate RJ&A�� clearance and settlement obligations. The net revenues of this securities lending business are the interest spreads generated.
PROPRIETARY CAPITAL
This segment consists of its principal capital and private equity activities, including various direct and third-party private equity and merchant banking investments; Raymond James Employee Investment Funds I and II (the EIF Funds), and a private equity fund which we sponsor-Raymond James Capital Partners, L.P. As of September 30, 2011, certain of its merchant banking investments include an investment in a manufacturer of crime investigation and forensic supplies, an event photography business, and an indirect investment in an allergy immunotherapy testing and treatment supply company.
Advisors' Opinion:- [By Omar Venerio]
The company has a current ROE of 13.13% which is higher than the one exhibited by its peers JPMorgan Chase (JPM) and Raymond James (RJF). In general, analysts consider ROE ratios in the 15-20% range as representing attractive levels for investment. It is very important to understand this metric before investing and it is important to look at the trend in ROE over time.
5 Best Healthcare Technology Stocks To Buy For 2014: Kellogg Co (K)
Kellogg Company (Kellogg), incorporated in 1922, is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods. Kellogg�� principal products are ready-to-eat cereals and convenience foods, such as cookies, crackers, toaster pastries, cereal bars, fruit-flavored snacks, frozen waffles and veggie foods. As of February 28, 2012, these products were, manufactured by the Company in 17 countries and marketed in more than 180 countries. It also markets cookies, crackers, and other convenience foods, under brands, such as Kellogg��, Keebler, Cheez-It, Murray, Austin and Famous Amos, to supermarkets in the United States. Its cereal products are generally marketed under the Kellogg�� name and are sold principally to the grocery trade through direct sales forces for resale to consumers. Effective June 1, 2012, Procter & Gamble Co announced that it has completed the sale of its Pringles business to Kellogg.
As of February 28, 2012, Kellogg operated manufacturing plants and distribution and warehousing facilities totaling more than 30 million square feet of building area in the United States and other countries. Its manufacturing facilities in the United States include four cereal plants and warehouses located in Battle Creek, Michigan; Lancaster, Pennsylvania; Memphis, Tennessee; Omaha, Nebraska and other plants or facilities in San Jose, California; Atlanta, Augusta, Columbus, and Rome, Georgia; Chicago, Illinois; Seelyville, Indiana; Kansas City, Kansas; Florence, Louisville, and Pikeville, Kentucky; Grand Rapids and Wyoming, Michigan; Blue Anchor, New Jersey; Cary and Charlotte, North Carolina; Cincinnati, West Jefferson, and Zanesville, Ohio; Muncy, Pennsylvania; Rossville, Tennessee; Clearfield, Utah; and Allyn, Washington. As of February 28, 2012, outside the United States, the Company had, additional manufacturing locations, some with warehousing facilities, in Australia, Brazil, Canada, Colombia, Ecuador, Germany, Great Britain, India, Japan, Mexico, Russia, S! outh Africa, South Korea, Spain, Thailand and Venezuela.
The Company�� trademarks include Kellogg�� for cereals, convenience foods and its other products, and the brand names of certain ready-to-eat cereals, including All-Bran, Apple Jacks, Bran Buds, Cinnamon Crunch Crispix, Choco Zucaritas, Cocoa Krispies, Complete, Kellogg�� Corn Flakes, Corn Pops, Cracklin��Oat Bran, Crispix, Cruncheroos, Crunchmania, Crunchy Nut, Eggo, Kellogg�� FiberPlus, Froot Loops, Kellogg�� Frosted Flakes, Kellogg�� Krave, Frosted Krispies, Frosted Mini-Wheats, Fruit Harvest, Just Right, Kellogg�� Low Fat Granola, Mueslix, Pops, Product 19, Kellogg�� Raisin Bran, Raisin Bran Crunch, Rice Krispies, Rice Krispies Treats, Smacks/Honey Smacks, Smart Start, Kellogg�� Smorz, Special K, Special K Red Berries and Zucaritas in the United States and elsewhere; Crusli, Sucrilhos, Vector, Musli, NutriDia, and Choco Krispis for cereals in Latin America. Vive and Vector are brands in Canada; Coco Pops, Chocos, Frosties, Fruit�� Fibre, Kellogg�� Crunchy Nut Corn Flakes, Honey Loops, Kellogg�� Extra, Sustain, Muslix, Country Store, Ricicles, Smacks, Start, Pops, Optima and Tresor for cereals in Europe; and Cerola, Sultana Bran, Chex, Frosties, Goldies, Rice Bubbles, Nutri-Grain, Kellogg�� Iron Man Food, and BeBig for cereals in Asia and Australia. In additional, the Company trademarks are the names of certain combinations of ready-to-eat Kellogg�� cereals, including Fun Pak, Jumbo, and Variety.
Other Company brand names include Kellogg�� Corn Flake Crumbs; All-Bran, Choco Krispis, Froot Loops, Special K, NutriDia, Kuadri-Krispis, Zucaritas and Crusli for cereal bars, Komplete for biscuits; and Kaos for snacks in Mexico and elsewhere in Latin America; Pop-Tarts and Pop-Tarts Ice Cream Shoppe for toaster pastries; Pop-Tarts Mini Crisps for crackers; Eggo, Eggo FiberPlus and Nutri-Grain for frozen waffles and pancakes; Rice Krispies Treats for baked snacks and convenience foods; Special K! and Spec! ial K2O for flavored protein water mixes and protein shakes, and Nutri-Grain cereal bars, Nutri-Grain yogurt bars, for convenience foods in the United States and elsewhere. Brands like K-Time, Rice Bubbles, Day Dawn, Be Natural, Sunibrite and LCMs for convenience foods in Asia and Australia; Nutri-Grain Squares, Nutri-Grain Elevenses, and Rice Krispies Squares for convenience foods in Europe; Kashi and GoLean for certain cereals, nutrition bars, and mixes; TLC for granola and cereal bars, crackers and cookies; Special K and Vector for meal replacement products; Bear Naked for granola cereal, bars and trail mix and Morningstar Farms, Loma Linda, Natural Touch, Gardenburger and Worthington for certain meat and egg alternatives. It also markets convenience foods under trademarks and trade names, which include Keebler, Austin, Keebler Baker�� Treasures, Cheez-It, Chips Deluxe, Club, E. L. Fudge, Famous Amos, Fudge Shoppe, Kellogg�� FiberPlus, Gripz, Jack��, Jackson��, Krispy, Mother��, Murray, Murray Sugar Free, Ready Crust, Right Bites, Sandies, Special K, Soft Batch, Stretch Island, Sunshine, Toasteds, Town House, Vienna Creams, Vienna Fingers, Wheatables and Zesta.
The Company�� trademarks also include logos and depictions of certain animated characters in conjunction with its products, including Snap!Crackle!Pop! for Cocoa Krispies and Rice Krispies cereals and Rice Krispies Treats convenience foods; Tony the Tiger for Kellogg�� Frosted Flakes, Zucaritas, Sucrilhos and Frosties cereals and convenience foods, and Ernie Keebler for cookies, convenience foods and other products. It also includes the Hollow Tree logo for certain convenience foods; Toucan Sam for Froot Loops cereal; Dig ��m for Smacks/Honey Smacks cereal; Sunny for Kellogg�� Raisin Bran and Raisin Bran Crunch cereals, Coco the Monkey for Coco Pops cereal; Cornelius for Kellogg�� Corn Flakes; Melvin the Elephant for certain cereal and convenience foods, and Chocos the Bear, Sammy the Seal (aka Smaxey the Seal! ) for cer! tain cereal products.
Advisors' Opinion:- [By Dan Caplinger]
Kellogg (NYSE: K ) is a favorite among breakfast-eaters everywhere, with its cereals and other food products being an essential part of the diets of people around the world. Yet, while Kellogg stock has soared in response to the recognition of the industry's importance in producing dependable and consistent earnings for investors, the extent of the stock's rise to all-time highs isn't entirely justified by Kellogg's fundamentals. Let's take a closer look at Kellogg and what's been behind its big rise lately.
5 Best Healthcare Technology Stocks To Buy For 2014: Meadowbrook Insurance Group Inc. (MIG)
Meadowbrook Insurance Group, Inc., through its subsidiaries, operates as a specialty commercial insurance underwriter and insurance administration services company in the United States. The company markets and underwrites specialty property and casualty insurance programs and products, including workers� compensation, general liability, commercial property, environmental, garage, commercial multi-peril, commercial auto, surety, and marine insurance on an admitted and non-admitted basis through a network of independent retail agents, wholesalers, program administrators, and general agents. It also offers program and product design, underwriting risk selection and policy issuance, claims administration and handling, loss prevention and control, risk-bearing entities administration, and retail property and casualty insurance agency services, as well as produces commercial, personal lines, life, and accident and health insurance with unaffiliated insurance carriers for its fe e-for-service and agency clients. The company was founded in 1955 and is headquartered in Southfield, Michigan.
Advisors' Opinion:- [By Johanna Bennett]
In corporate news, China�� Fosun International has agreed to buy Meadowbrook Insurance Group (MIG) for about $433 million, or $8.65 a share. Meadowbrook shares jumped almost 19%.
5 Best Healthcare Technology Stocks To Buy For 2014: Veolia Environnement(VE)
Veolia Environnement S.A., together with its subsidiaries, provides environmental management services to individuals, public authorities, and industrial and commercial services customers worldwide. It operates in four segments: Water, Environmental Services, Energy Services, and Transportation. The Water segment offers water and wastewater services, including the management and operation of large-scale and customized drinking water plants, wastewater decontamination and recycling plants, drinking water distribution networks, and wastewater collection networks; and provision of call centers and billing services. The Environmental Services segment provides waste management and logistical services, which include waste collection, waste processing, cleaning of public spaces, maintenance of production equipment, treatment of polluted soil, and management of waste discharge at industrial sites. The Energy Services segment offers a range of energy management services comprising o peration of heating and cooling networks, decentralized energy production, thermal and multi-technical services, industrial utilities, installation and maintenance of production equipment, integrated facilities management, and electrical services on public streets and roads; and provides heating systems maintenance services, plumbing and renewable energy services, and meter-reading services. The Transportation segment operates various bus networks, suburban trains, tramways, metros, and ferries, as well as offers customized transportation-on-demand services. This segment also provides intercity and regional passenger transportation, infrastructure management and airport services, and transportation management services. The company was formerly known as Vivendi Environnement and changed its name to Veolia Environnement S.A. in April 2003. Veolia Environnement S.A. was founded in 1853 and is headquartered in Paris, France.
Advisors' Opinion:- [By Benjamin Shepherd]
The first is to focus on infrastructure companies that lay the groundwork for easier water access, such as France-based Veolia Environment (NYSE: VE).
- [By Sean Williams]
Another factor that easily puts Waste Management on top in the waste-collection sector is its dividend yield of 3.4%. The only company with a higher yield is global waste solutions company Veolia Environnement (NYSE: VE ) , with a 6.2% yield. However, Veolia also boats a higher debt-to-equity ratio than Waste Management, has unwanted exposure to European markets, and has lower overall margins relative to Waste Management. By comparison, Republic Services, Progressive Waste, and Waste Connections pay out a yield of 2.7%, 2.4% and 1%, respectively. Even better, Waste Management's payout has grown by an average annualized rate of 7.7% since 2004.
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