Sainsbury at 337p; still good value in a sea of competition
Last month, I gave my reasons why I thought Sainsbury’s equity was attractive at the then share price of 340p. I described the company as “impressive fundamental value in a sea of intense competition”. In essence, that was based on an estimated prospective dividend yield of 4.8%, backed by a strong balance sheet net asset value of an estimated 317p a share. The share price continued a slide down to about 326p before bouncing; last seen, Sainsbury shares were back up to 337p almost back to where we came in about a month ago.


