UBS Group Raises Its Stakes In ASX Listed Companies

UBS

JB Hi-Fi Limited (ASX: JBH)

JB Hi-Fi Limited traded at higher levels after the investor UBS Group AG and its related bodies went to increase their holdings in the Australia’s leading retail company.

On Friday, JB Hi-Fi Limited notified the change of interests of substantial holder of the company that came into effect on 20 November 2018. As per the company’s notification, UBS Group AG and its related bodies corporate has acquired more stakes in JB Hi-Fi Limited that has now taken their current holdings to over 9 million ordinary shares.

The change has been affected through the securities lending agreement and prime brokerage agreement and after this change UBS’ voting rights have increased to 7.96%, compared to previous 6.33% voting power.  

For the period 1 July to 30 September 2018, the company reported total sales growth of 5.3% and 4.0% in Australia and New Zealand, respectively. The growth is in comparison to previous corresponding period. Moreover, the comparable sales growth for JB HI-FI Australia was 3.4% compared to PCP 4.9% and for JB HI-FI New Zealand was 9.8%, up by PCP 6.2%. The company further provided that for The Good Guys, the total sales growth has been 2.3% and comparable sales growth was 1% in Q1 FY19.

For Full Fiscal Year 2019, the company expects to achieve total sales of approximately $ $7.1 billion, comprising $0.22 billion in JB HI-FI New Zealand, $4.75 billion in JB HI-FI Australia, and $2.15 billion in The Good Guys.

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In today’s trading session, JBH stock price edged up by 0.646% to last trade at $23.380 on 23 November 2018. Whereas, the Price to Earnings ratio was 11.440 x with market capitalization of $2.67 billion. JB Hi-Fi stock has witnessed a positive performance change of 4.12% over the past 12 months but the stock price has fallen by 10.65% over the past three months as at 23 November 2018.

BWX Limited (ASX: BWX)

Substantial Holder UBS Group AG and its related bodies corporate has also acquired more stakes in BWX Limited on 20 November 2018.

Branded product company BWX Limited today notified that UBS Group now holds 6,229,840 securities in BWX with the voting right of 5.02%.

With this update, the stock price of BWX Limited surged 5.556% to close at $3.420 on 23 November 2018. BWX last traded at a PE of 19.060 x with market capitalization of $402.41 million. Over the past one year, the stock has witnessed a negative performance change of 52.28%.


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