Key Drivers In Stock Growth Of "Big Tobacco"
| dc.contributor.advisor | Van Walbeek, Cornelis | |
| dc.contributor.author | Fitchet, Max | |
| dc.date.accessioned | 2019-02-14T13:55:47Z | |
| dc.date.available | 2019-02-14T13:55:47Z | |
| dc.date.issued | 2018 | |
| dc.date.updated | 2019-02-14T07:44:42Z | |
| dc.description.abstract | This study attempts to determine some of the key drivers in stock growth of BAT, IMB, JTI and PMI (“Big Tobacco”) which have seen strong growth in stock pricing from 2000 to 2016. The study uses a combination of financial statements and market related metrics to determine key trends. The results show that “Big Tobacco” has increased its share in the global market through acquisitions and diversification into the vaping and logistics markets. Share buy backs and increased margins have helped offset the decrease in cigarette consumption and have encouraged a bullish view of the industry. However, increasing dividend pay-out ratios, a falling cash conversion cycle and an increased tax burden suggest future difficulties. The market continues to price growth into “Big Tobacco” stocks, and while risk is low in the industry the same level of growth cannot be expected in the future without some changes in the sector. Further consolidation of the industry could provide more opportunity for investors. | |
| dc.identifier.apacitation | Fitchet, M. (2018). <i>Key Drivers In Stock Growth Of "Big Tobacco"</i>. (). University of Cape Town ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/29538 | en_ZA |
| dc.identifier.chicagocitation | Fitchet, Max. <i>"Key Drivers In Stock Growth Of "Big Tobacco"."</i> ., University of Cape Town ,Faculty of Commerce ,School of Economics, 2018. http://hdl.handle.net/11427/29538 | en_ZA |
| dc.identifier.citation | Fitchet, M. 2018. Key Drivers In Stock Growth Of "Big Tobacco". University of Cape Town. | en_ZA |
| dc.identifier.ris | TY - Thesis / Dissertation AU - Fitchet, Max AB - This study attempts to determine some of the key drivers in stock growth of BAT, IMB, JTI and PMI (“Big Tobacco”) which have seen strong growth in stock pricing from 2000 to 2016. The study uses a combination of financial statements and market related metrics to determine key trends. The results show that “Big Tobacco” has increased its share in the global market through acquisitions and diversification into the vaping and logistics markets. Share buy backs and increased margins have helped offset the decrease in cigarette consumption and have encouraged a bullish view of the industry. However, increasing dividend pay-out ratios, a falling cash conversion cycle and an increased tax burden suggest future difficulties. The market continues to price growth into “Big Tobacco” stocks, and while risk is low in the industry the same level of growth cannot be expected in the future without some changes in the sector. Further consolidation of the industry could provide more opportunity for investors. DA - 2018 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2018 T1 - Key Drivers In Stock Growth Of "Big Tobacco" TI - Key Drivers In Stock Growth Of "Big Tobacco" UR - http://hdl.handle.net/11427/29538 ER - | en_ZA |
| dc.identifier.uri | http://hdl.handle.net/11427/29538 | |
| dc.identifier.vancouvercitation | Fitchet M. Key Drivers In Stock Growth Of "Big Tobacco". []. University of Cape Town ,Faculty of Commerce ,School of Economics, 2018 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/29538 | en_ZA |
| dc.language.iso | eng | |
| dc.publisher.department | School of Economics | |
| dc.publisher.faculty | Faculty of Commerce | |
| dc.publisher.institution | University of Cape Town | |
| dc.subject.other | Economics | |
| dc.title | Key Drivers In Stock Growth Of "Big Tobacco" | |
| dc.type | Master Thesis | |
| dc.type.qualificationlevel | Masters | |
| dc.type.qualificationname | MCom |