GEORGE WESTON LTD. $63.26 - Toronto symbol WN

GEORGE WESTON LTD. $63.26 (Toronto symbol WN; Shares outstanding: 128.2 million; Market cap: $8.1 billion; TSINetwork Rating: Above Average; Dividend yield: 2.3%) makes a number of products through Weston Foods, including fresh and frozen baked goods in Canada and frozen baked goods, biscuits, cookies, cones and wafers in the U.S. The company also owns a 63% interest in Loblaw (see left).

Weston’s revenue rose 1.3% in the three months ended June 30, 2012, to $7.63 billion from $7.53 billion a year earlier. Without one-time items, earnings per share fell 20.9%, to $1.06 from $1.34, largely due to a lower contribution from Loblaw.

The company holds cash of $3.6 billion, which it could use to increase its stake in Loblaw or make other investments to add to its growth.

George Weston is a buy.

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