George Weston is a buy

Article Excerpt

GEORGE WESTON LTD. $66.61 (Toronto symbol WN; Shares outstanding: 129.1 million; Market cap: $8.7 billion; TSINetwork Rating: Above Average; Dividend yield: 2.2%) operates through Weston Foods, which makes fresh and frozen baked goods in Canada and the U.S., as well as its 63% interest in Loblaw. Weston’s revenue rose 0.7% in the three months ended June 30, 2011, to $7.53 billion from $7.48 billion. Earnings per share before one-time items rose 14.5%, to $1.34 from $1.17. Weston holds cash of $3.4 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. buy…