Not the most exciting share, but with safeway conversion now complete (and how much better the old safeway stores are now) the shares should start to come back. Already started a nice rise from a recent low. Costs for conversions will still hold the price back but when that is out of the way, should be be nice. 190p

Not the most exciting stock, but chart approaching good support level.

Trading Statement.

Trading

In the 6 weeks to 2 January total sales* excluding fuel were up by 3.1% (4.7% including fuel). Like for like sales* grew by 1.0% (4.0% including fuel), building on the industry leading growth reported over the past four years.

Morrisons served an average of 2 million more customers each week over the Christmas period than five years ago, and in that time has grown total sales excluding fuel by 47%.

The Morrisons Christmas offer once again provided our customers with high quality food at outstanding value, supported by a strong service proposition. In store we used our own craft skills to deliver innovative fresh-made products, such as pannetone, baked fresh every day by our own bakers, turkey crowns stuffed with sage and onion by our own butchers and fresh salmon crackers with lemon, created by our own fishmongers.

The combination of high quality food at fantastic prices was seen throughout the store, with our exciting range of deals being supplemented by our Christmas collector card. This once again proved very popular with over 1m customers, who will continue to benefit from the scheme into the New Year.

Morrisons colleagues are at their best when challenged. Once again their professionalism and "can do" approach were evident during the difficult weather conditions, making sure that our stores and forecourts remained open and safe and that our customers were well served throughout the Christmas period. Availability was good right up to closing time on Christmas Eve, ensuring that we did not let our customers down.

just been flagged on the charting thread ..... well spotted .... sp just poking through 200 dma, which if held and improved will augur well ...... hadn't thought to enter this sector (dope!), but i think MRW could indeed be an inspired choice as they really do seem to be getting their act together

I believe it's May & Nov when their results are announced which coincides with the drops on the chart. Presumably the ex-divi date. Div yield is approx 3.5 - 4.0%

Current yield is 2.96%

Forthcoming events

10/03/2011 Preliminary results announcement
05/05/2011 Quarterly management statement
05/05/2011 Final dividend record date
09/06/2011 Annual General Meeting
09/06/2011 Quarterly management statement
15/06/2011 Final dividend payment date
31/07/2011 Half year end
08/09/2011 Interim results announcement
30/09/2011 Interim dividend record date
07/11/2011 Interim dividend payment date

So it is the ex-divi dates which trigger the drop each time.

huge volume today .... normally 7m and already 13m ... perhaps no more than lots of fund-switching if ex-div imminent

cynic possibly switching out of Tesco.

Usual journalist noise doing the rounds maybe:
This article originally appeared on Dow Jones Investment Bank site:
"Share buybacks and special dividends are reasonable options for strongly cash-generative Wm. Morrison Supermarkets, but only a sale of the company would truly maximize shareholder value.

Indeed, for a private equity consortium, possibly including sovereign wealth funds from the Middle East, an LBO of the U.Ks fourth-largest grocer would make an attractive play on U.K. real estate and could offer terrific returns if the cycle delivers. A sale of the business is an option for J Sainsbury, too."

cynic - where are you getting 13m volume?

L2 - IG Index - 13,211,548 .... will phone and check accuracy

===========

yes it is correct ..... it's an amalgam of all the various trading platforms and not just LSE
volume is certainly heavy, but not quite as exceptional as i thought

Broker note from Shore Capital:
"Morrison, the Bradford based supermarket group, has surprised us this morning with the announcement that it has acquired Kiddicare. The food retailing business, that has said to date that it will remain a focused grocer, indeed this perspective was highlighted as a point of difference in recent times by senior management, has decided to diversify into on-line baby products.

Indeed, Morrison bills the acquisition of Kiddicare as the first stage of its e-commerce strategy, on which on balance we take comfort as to a perhaps a rapidly evolving growth strategy for the UK food retailer most dependent upon the low growth grocery channel. As a first stage it also raises questions as to what Dalton Philip's second and third e-commerce stages are likely to be; no doubt we will find out a little more with the preliminary results on the 10th March 2011. For what it is worth we do not see merit or the likelihood of Morrison shelling out 1.4bn+ on Ocado (OCDO^, Sell at 155p) as a mechanism to enter on-line grocery; that would be a) more costly, b) materially earnings dilutive and c) debilitating to group capital returns.

So, an interesting move that sets the mind whirling as to what are Dalton Philips' plans for Morrison. One senses that it is not going to be more of the same, which may provide for some excitement. However, until we are clear as to mix of performance, direction, balance sheet and medium-term valuation, we reiterate our HOLD stance on the shares."

Wm Morrison has announced its long-awaited move into online shopping with the 70 million purchase of Kiddicare, the online retailer of baby products. The acquisition is part of an ongoing strategic review by Dalton Philips, the chief executive of Morrison who arrived in June 2010, to try and reinvigorate the supermarket chain

perhaps that's why a little fillip for the shares today

Indeed indeed.

A healthy Broker backing. Forward P/E of just over11 to 2012 rather cheap.

Morrison (Wm) Supermarkets PLC

FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

ING Financial Markets
15-02-11 BUY 22.76 9.10 25.95 10.37
Exane BNP Paribas
15-02-11 BUY 878.00 22.39 9.13 993.00 25.35 10.33
Seymour Pierce
15-02-11 HOLD 860.00 22.30 960.00 25.20
Arden Partners
14-02-11 BUY 862.51 22.40 9.38 955.06 24.40 10.35
Shore Capital
11-02-11 HOLD 859.00 22.30 9.40 943.00 24.90 10.50
Numis Securities Ltd
03-02-11 HOLD 872.20 22.70 9.40 964.10 25.10 10.40
The Royal Bank of Scotland NV
25-01-11 BUY 866.68 23.14 9.25 943.11 25.53 10.21
Charles Stanley
20-01-11 ACCU 855.00 22.60 9.04 950.00 25.00 10.00
Evolution Securities Ltd
10-01-11 ADD 868.00 22.48 9.10 955.00 25.06 10.20
Altium Securities
10-01-11 BUY 870.00 22.90 9.30 980.00 25.80 10.50
Collins Stewart
26-10-10 BUY
SG Securities
26-10-10 BUY 22.97 9.00 25.37 10.00
Execution Noble
11-03-10 BUY
Nomura Research Institute [R]
09-03-10 BUY 890.00 23.64 956.00 25.38
Fyshe Horton Finney Ltd
25-01-10 HOLD
Eden Group
02-12-09 BUY

2011 2012
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 865.34 22.59 9.24 959.78 25.23 10.33
1 Month Change -0.42 0.00 0.01 -1.87 -0.00 0.01
3 Month Change -2.43 -0.13 0.00 -4.62 -0.14 0.02


GROWTH
2010 (A) 2011 (E) 2012 (E)
Norm. EPS 9.68% 20.29% 11.70%
DPS 23.45% 52.02% 11.76%

INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)

EBITDA 1,115.00m 1,224.79m 1,342.69m
EBIT 811.00m 903.25m 1,002.65m
Dividend Yield 2.17% 3.30% 3.69%
Dividend Cover 3.09x 2.44x 2.44x
PER 14.91x 12.40x 11.10x
PEG 1.54f 0.61f 0.95f
Net Asset Value PS 183.14p 199.73p 210.32p

Wow just look at the Broker SP targets and looks like most havent upgraded for yesterdays bolt on........

Date Broker name New Price Old price target New price target Broker change

15-Feb-11 Seymour Pierce Hold 280.00p 520.00p - Reiteration
04-Feb-11 Matrix Group Buy 278.90p 325.00p - Reiteration
04-Feb-11 Sanford C. Bernstein Outperform 278.90p - - Upgrade
04-Feb-11 UBS Buy 278.90p 290.00p 315.00p Upgrade


Im fact just looks like Seymour Pierce are the ones who have upgraded as per note yesterday.

told ya my little acolyte

Not done much for the sp ..........yet, Fingers crossed.

280 is a key level from memory, and sp sitting on that now