This week, six of the portfolio holdings ranked in the Top Ten: BDX, FMCB, GRC, PPG, SJW, and TGT.
| Ticker | Account Value |
| BDX | 1,377.24 |
| FMCB | 4,120.00 |
| GRC | 3,140.60 |
| PPG | 3,233.44 |
| SJW | 3,494.61 |
| TGT | 2,301.60 |
The lowest amount belongs to BDX which last traded at $229.54. Now, in addition to the usual $250+ of weekly investment, there is an additional $278.09 in uninvested income at my disposal. Therefore, I will acquire 3 shares (2 from the normal weekly installment and 1 extra, leaving some uninvested income on the table) of BDX on Monday. Below, is the purchase history and average cost calculation.
The good news is that BDX is up since the position was established. In fact, just prior to their last earnings announcement it had traded as high as $251.99. Let’s take a look at the recent performance in the context of the past 16 years.
Observations
- 2024Q4 EPS of $3.43 was a 28% increase over the prior year period.
- CY2024 EPS of $13.91 was a record for BDX, topping the previous record of $12.16 in CY2021.
- BDX first traded at $229.54 in mid-December 2017, a little over 7 years ago. Yet, the EPS have been undeniably trending higher.
- The quarterly dividend continues to rise and is easily supported by the EPS.
Based on historical valuations, BDX could easily trade for $250 or even higher. But that won’t happen until the broader market stabilizes and either throws off the fears of recession or comes out on the other side of a recession-to-be.
We’re happy to add to this position at this time.