Updating your Conservative stocks: Diageo, BHP Group, & Canon

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DIAGEO PLC ADRs $169 (www.diageo.com) is still a hold. The U.K.-based maker of premium alcoholic beverages reported that its sales in the fiscal year ended June 30, 2022 rose 15.4%, to 15.45 billion British pounds from 12.73 billion pounds in 2021 (1 pound = $1.48 Cdn.). That’s largely due to higher demand for premium-priced products. Earnings per ADR rose 29.3%, to 6.07 pounds from 4.70 pounds (each American Depositary Receipt represents four common shares). However, high inflation and rising interest rates could prompt consumers to trade down to cheaper brands. Diageo is a hold. BHP GROUP LTD. ADRs $50 (www.bhp.com) is a buy. The company recently offered to acquire OZ Minerals Ltd., which owns the West Musgrave copper-nickel project in Western Australia, for $5.6 billion. That’s equal to 3% of its $186.6 billion market cap. The deal would help BHP tap into the growing need for batteries to power electric cars. OZ has rejected the offer, but BHP may raise its bid. BHP Group is a buy. CANON INC…