of mutual fund GAMCO Investors, awakens his stake in Caribou
Coffee Company (
), increasing it by 80.57 percent according to
GuruFocus Real Time Picks
. The purchase added 323,867 shares to Gabelli's current holding,
elevating his total share amount to 725,841.
The transaction bumps up his ownership to 3.57 percent of the
company's outstanding shares, compared to 1.98 percent just last
month, when Gabelli re-introduced Caribou Coffee back to his
Gabelli Buys Caribou on News of Company
Founded in 1992, Caribou is a coffee company with a multi-channel
approach to its customers, not only offering its signature coffee
to its 610 coffeehouses, but also selling its products in grocery
stores, mass merchandisers, club stores, office coffee,
foodservice providers, hotels, entertainment venues and
e-commerce channels, according to its website.
Caribou's latest reported quarterly earnings report was released
last November, highlighting its third quarter.
For the period, Caribou's store sales increased by 3.5 percent,
while its net sales decreased by 5.2 percent comparable to 2011
data. Caribou CEO Michael Tattersfield said in a statement:
"Our third quarter performance was in-line with our
expectations. We leveraged on-going product innovation and an
unyielding focus on customer service to grow comparable
coffeehouse sales of 3.5% in the quarter. We also opened 20 new
coffeehouses in the quarter, six of which were company owned. We
continue to focus on our multi-channel premium coffee business
model to build the Caribou brand, and are confident in our
ability to drive future growth across all of our lines of
For 2013, the company forecasts its net sales to grow 6 percent
to 8 percent. It anticipates its coffeehouse sales to grow 2
percent to 4 percent, its commercial sales to grow 10 percent,
its coffeehouse unit growth to grow by 15 to 20 units and its
diluted earnings per share from $0.52 to $0.55.
Currently, the company's EBITDA per share trendline exhibits a
five-year annual trendline of 56.13 percent. (View its
It's priced at $15.99, up 0.06 percent for this afternoon's
Besides Gabelli, the only other Guru who holds Caribou in its
portfolio is Pioneer Investments, who owns 2.17 percent of its
To view the rest of Gabelli's latest trades, go to Mario
Gabelli's Stock Picks. Also view his undervalued stocks, his high
yield companies and his top growth stocks.
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