Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

TFSA: 3 Stocking Stuffer Stocks

Stock MarketsNov 27, 2021 15:45
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
TFSA: 3 Stocking Stuffer Stocks

With the holidays only weeks away, it’s time to do some shopping. Apart from gifts, you might want to buy some stocks for your TFSA.

The best part? By holding stocks in your TFSA, you can grow these investments tax-free.

Loblaw Companies (TSX:L), High Liner Foods (TSX:HLF), and Galaxy Digital Holdings (TSX:GLXY) are three Canadian stocks that would make great buys for your TFSA. They have reported solid quarterly results.

Loblaw Companies Canada’s largest grocer beat expectations in the third quarter, supported by solid demand in its stores and online.

Revenue for the third quarter of 2021 was $16.05 billion — an increase of 2.4% from the revenue of $15.67 billion reported in the third quarter of 2020.

The food and drugstore company made profit available to common shareholders of $431 million ($1.27 per diluted share), an increase of 26% compared to the third quarter of 2020.

On an adjusted basis, Loblaw earned $1.59 per diluted share in the quarter, an increase of 24.2% from the third quarter of 2020.

Loblaw said demand for the back-to-school and Thanksgiving season was strong, signaling a return to pre-pandemic routines.

Online sales remained above pre-pandemic levels and are expected to exceed $3 billion in 2021, which would be higher than the $2.8 billion recorded a year earlier.

As a result, Loblaw now expects adjusted earnings per share to rise in the low to mid 30% range compared to an earlier forecast of low to mid-20% growth.

As Canadians buy more groceries during the holidays, Loblaw will see higher sales in December.

High Liner Foods High Liner reported higher sales, adjusted EBITDA and profit in the third quarter of 2021 than a year ago, boosted by the recovery in foodservice.

The company’s foodservice business has seen its sales volume increase due to the significantly reduced restrictions from COVID-19. However, the gains were partially offset by its retail business, where demand was weaker than a year ago due to changes in consumer behavior during the pandemic.

Sales volume increased 0.2% to 54.8 million pounds, while sales increased 10.1% to $214.3 million. Adjusted EBITDA increased 17.3% to reach $22.4 million.

Net income increased 137.2% to $8 million in the quarter ended July 3, 2021. Diluted EPS increased to $0.23 per share from $0.10 per share in the same quarter last year.

On an adjusted basis, net income increased 142.1%, from $3.8 million ($0.11 per diluted share) to $9.2 million ($0.26 per diluted share).

High Liner is on track to generate adjusted EBITDA growth this year thanks to the company’s third-quarter performance.

The frozen seafood company increased its quarterly dividend to$ 0.10 per share, which is an increase of 43% from the $0.07 dividend paid in the third quarter.

Galaxy Digital Holdings Galaxy Digital is an asset management company operating in the digital assets, cryptocurrency and blockchain technology industry. The company posted a strong profit increase in the third quarter.

Comprehensive net income reached $ 517 million in the third quarter of 2021, an increase of 1,146% from $41.5 million in the third quarter of 2020.

Galaxy Digital Asset Management reported preliminary assets under management (AUM) of $2.2 billion as of September 30, an increase of 57% from the quarter ended June 30 and an increase of 175% since September 30.

Galaxy Digital founder and CEO Michael Novogratz said, “As the cryptoeconomy continues to mature and adoption trends accelerate, driving both asset price increases and greater quantities of institutional capital into the space, I have never been more bullish about the future of our company.”

Novogratz added that he looks forward to the company listing in the United States and the closing of its BitGo acquisition, which is expected to take place in the first quarter of 2022.

Galaxy Digital stock is up more than 220% year to date. Owning this stock in your TFSA allows you to make big money without paying taxes.

The post TFSA: 3 Stocking Stuffer Stocks appeared first on The Motley Fool Canada.

Fool contributor Stephanie Bedard-Chateauneuf has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

This Article Was First Published on The Motley Fool

TFSA: 3 Stocking Stuffer Stocks
 

Related Articles

Nasdaq Moves Off Lows After Dipping Below 14,000
Nasdaq Moves Off Lows After Dipping Below 14,000 By Investing.com - Jan 21, 2022

By Yasin Ebrahim Investing.com – The Nasdaq moved off session lows Friday after falling below the key 14,000 level, as a Netflix-led rout in tech eased and dip-buying in...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email