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McKesson Corporation: Pharmaceutical Distribution Industry
George Athanassakos; Woojin Lee; Andy Seo; Derek Kang; Ton BuiCase IVEY-9B20N017-EFinance, StrategyOn October 27, 2017, the share price of McKesson Corporation and two other major US pharmaceutical distributors dropped by 7–12 per cent over only a few days. The stock price drop was fuelled by reports that Amazon Inc. had quietly acquired wholesales phaStarting at €8.20
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Harley-Davidson Inc.
George Athanassakos; Reyer Barel; Saj KarsanCase IVEY-9B08N021-EEntrepreneurship, FinanceThe founders of BarKar, an investment company, are considering whether to invest in Harley-Davidson Inc. BarKar is a value-oriented investment company in Vancouver, B.C., Canada that specializes in identifying and investing in companies trading at more than a one-third discount to their intrinsic value. In order to reach a decision, the founders have to look at the financials and carry out a strategic analysis to determine the intrinsic value of ...Starting at €8.20
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La-Z-Boy
George Athanassakos; Muhammad Fuad FarooqiCase IVEY-9B08N022-EFinanceIn September, 2005 an investment analyst had recommended to the investment committee of Optimal Funds (the Fund) to invest $10 million in La-Z-Boy, in addition to the $20 million that the Fund had already invested. The analyst believed La-Z-Boy represented strong value yet, having only been on the job less than one year, he knew that he needed to provide sound judgment and analysis to convince the investment committee and to maintain his credibil...Starting at €8.20
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Agnico-Eagle Mines Ltd.
George Athanassakos; Dan BufferyCase IVEY-9B07N011-EFinanceThe senior portfolio manager at National Securities Inc. (National) is concerned about the recent decline in shares of Agnico-Eagle Mines Ltd (AEM), a Canadian gold producer with several years of precious metals mining experience that was considered one of the portfolio's strongest performers. The senior portfolio manager and his team recently spent time at one of AEM's mines and believed in the operational potential of the company. National's re...Starting at €8.20
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Constellation Software Inc.
George Athanassakos; Watson Lin; Parker LiuCase IVEY-9B15N029-EFinanceAn equity analyst at a value fund considers pitching to his fund manager the Canadian software maker Constellation Software Inc. The last software company he pitched was rejected for failing to meet the value fund’s investment criteria of low analyst coverage and small market capitalization with either a strong competitive advantage or a low price-earnings ratio and a low price-to-book ratio. The analyst has heard that Constellation Software is e...Starting at €8.20
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National Presto Industries
George Athanassakos; Marlena ZabielskaCase IVEY-9B11N017-EFinanceA recent business graduate decided to contact her former classmates from her value investing course. She emailed them with a proposal to re-evaluate the company they had valued for their final project, National Presto Industries (Presto). Presto was a diversified company operating in three different industries: housewares/small appliances, absorbent products, and defense. The price had dropped about 25 per cent and perhaps it was time to take it ...Starting at €8.20
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Dun and Bradstreet Corporation
George Athanassakos; Mark HuangCase IVEY-9B11N018-EFinanceAntony Ving had secured the highly coveted analyst position for the Western Investment Club (WIC), a student-controlled organization at the Richard Ivey School of Business that managed over $100,000 according to a disciplined value investing philosophy. He was preparing a presentation on Dun & Bradstreet (DNB) for the next WIC meeting. DNB was a leading provider of information, services, and solutions; it was in the business of selling accumulate...Starting at €8.20
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Sanderson Farms
George Athanassakos; Ningyu (Michael) Geng; Yinghua (Andy) SunCase IVEY-9B07N014-EFinance, StrategyA new investment analyst with Alpha Value Fund was working on a presentation he was to make to the fund's investment committee, recommending an investment of $50 million in Sanderson Farms. Sanderson Farms was one of the leading poultry processors in the United States. Their stock had closed that day with a share price of $22.62 on the New York Stock Exchange. Eight months ago, the stock was trading at $48 per share. However, with the threat of a...Starting at €8.20