We discussed Wesfarmers (WES) yesterday (here), concluding that we like the medium term prospects for WES, however we were more neutral in the short term after a strong run. We are taking a more aggressive stance this morning, selling WES, to use funds elsewhere.
MM are selling WES in the Active Income Portfolio, taking profit around $54.20
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We are buying packaging company Orora (ORA), a stock that was on our hitlist previously. We see compelling value in ORA at current levels, supported by an estimated yield over 5% (unfranked).
MM are buying ORA in the Active Income Portfolio, allocating 4% around $2.55
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We are using recent weakness to top up our existing holding in NHC, moving from a 4% target weighting up to 5%.
MM are adding to NHC in the Active Income Portfolio, targeting a 5% portfolio weighting around $5.24
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