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Turnaround Letter
Out-of-Favor Stocks with Real Value

June 7, 2024

Earnings season is largely over, so there were no companies that reported earnings this past week. However, we do have at least one company reporting next week – Ammo, Inc. (POWW). And the next earnings season is frankly just around the corner, with Walgreens Boots Alliance (WBA) announcing they’ll release their next round of results the last week of the month.

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Earnings season is largely over, so there were no companies that reported earnings this past week. However, we do have at least one company reporting next week – Ammo, Inc. (POWW). And the next earnings season is frankly just around the corner, with Walgreens Boots Alliance (WBA) announcing they’ll release their next round of results the last week of the month.

Friday, June 7, 2024, Subscribers-Only Podcast:

Covering recent news and analysis for our portfolio companies and other topics relevant to value/contrarian investors.

Today’s podcast is about 13 minutes long and covers:

  • Initial note
    • Introduction – some thoughts on market action this week, and this month’s additions and subtractions in the Catalyst Report.
  • Comments on recommended companies
    • Mattel (MAT) recently announced a collaboration with Universal Pictures to create a live-action theatrical film of the popular toy line Monster High.
    • Viatris (VTRS) will report its second-quarter 2024 financial results on Thursday, August 8, 2024, before the open of the U.S. financial markets.
    • The Western Union Company (WU) recently announced its collaboration with Tenpay Global, the cross-border payment platform of Tencent’s renowned Weixin. The partnership is aimed at providing flexibility for WU users to transfer money to China directly through Weixin Pay wallets.
    • Advance Auto Parts, Inc. (AAP) has announced that it will pay a dividend of $0.25 per share on the 26th of July.
    • VF Corp (VFC) announced that board member and former Donna Karan International CEO Caroline Brown will step down in order to become global brand president of The North Face. Brown takes over for Nicole Otto, whose departure was described by VF as an “involuntary termination without cause,” according to a regulatory filing.
    • United States Steel Corp. (X) announced Nippon Steel’s vice chairman Takahiro Mori plans to return to the United States this week for more talks over the proposed acquisition of U.S. Steel and would study selling some assets if necessary for the deal to go through.
    • Walgreens Boots Alliance (WBA) will release its fiscal 2024 third-quarter results at 7 a.m. ET on Thursday, June 27, 2024.
    • Bayer AG (BAYRY) had the $2.2 Billion Roundup verdict against them slashed to $400M by a Pennsylvania judge on Tuesday.

Please know that while I don’t yet personally own shares of all Cabot Turnaround Letter recommended stocks – including the stocks mentioned in this note – that will materially change over time.

Please feel free to share your ideas and suggestions for the podcast and the letter with an email to either me at or to our friendly customer support team at Due to the time and space limits we may not be able to cover every topic, but we will work to cover as much as possible or respond by email.


Market CapRecommendationSymbolRec. IssuePrice at Rec.Current Price *Current YieldRating and Price Target
Small capGannett CompanyGCIAug 20179.22 $ 3.95 -Buy (9)
Small capDuluth HoldingsDLTHFeb 20208.68 $ 3.81 -Buy (20)
Small capDril-QuipDRQMay 202128.28 $ 17.43 -Buy (44)
Small capKopin CorpKOPNAug 20232.03 $ 0.78 -Buy (5)
Small capAmmo, Inc.POWWOct 20231.99 $ 2.55 -Buy (3.50)
Mid capMattelMATMay 201528.43 $ 17.66 -Buy (38)
Mid capAdient plcADNTOct 201839.77 $ 27.56 -Buy (55)
Mid capXerox HoldingsXRXDec 202021.91 $ 14.087.1%Buy (33)
Mid capViatrisVTRSFeb 202117.43 $ 10.484.6%Buy (26)
Mid capTreeHouse FoodsTHSOct 202139.43 $ 36.23 -Buy (60)
Mid capThe Western Union Co.WUDec 202116.40 $ 12.907.3%Buy (25)
Mid capBrookfield ReBNREJan 202261.32 $ 41.630.8%Buy (93)
Mid capPolarisPIIFeb 2022105.78 $ 77.803.4%Buy (160)
Mid capGoodyear Tire & RubberGTMar 202216.01 $ 12.07 -Buy (24.50)
Mid capJanus Henderson GroupJHGJun 202227.17 $ 32.464.8%Buy (67)
Mid capSix Flags EntertainmentSIXDec 202222.60 $ 25.89 -Buy (35)
Mid capKohl’s CorporationKSSMar 202332.43 $ 22.508.9%Buy (50)
Mid capFrontier Group HoldingsULCCApr 20239.49 $ 5.53 -Buy (15)
Mid capAdvance Auto PartsAAPSep 202364.08 $ 64.241.6%Buy (98)
Mid capMohawk IndustriesMHKJan 2024103.11 $ 113.95 -Buy (165)
Mid capVF CorporationVFCMar 202416.24 $ 13.472.7%Buy (25)
Mid capBarnes GroupBApr 202436.55 $ 37.821.6%Buy (55)
Mid capFirst Quantum MineralsFMApr 202415.93 $ 16.731.6%Buy (40)
Mid capUnited States SteelXJun 202437.12 $ 38.140.5%Buy (55)
Large capGeneral ElectricGEJul 2007304.96 $ 161.590.2%Buy (160)
Large capNokia CorporationNOKMar 20158.02 $ 3.913.4%Buy (12)
Large capMacy’sMJul 201633.61 $ 18.433.4%Buy (25)
Large capNewell BrandsNWLJun 201824.78 $ 7.343.4%Buy (39)
Large capVodafone Group plcVODDec 201821.24 $ 9.0611.3%Buy (32)
Large capBerkshire HathawayBRK.BApr 2020183.18 $ 414.32 -HOLD
Large capWells Fargo & CompanyWFCJun 202027.22 $ 58.272.4%Buy (64)
Large capWestern Digital CorporationWDCOct 202038.47 $ 75.10 -Buy (78)
Large capElanco Animal HealthELANApr 202127.85 $ 18.12 -Buy (44)
Large capWalgreens Boots AllianceWBAAug 202146.53 $ 15.936.3%Buy (70)
Large capVolkswagen AGVWAGYAug 202219.76 $ 13.406.9%Buy (70)
Large capWarner Bros DiscoveryWBDSep 202213.13 $ 8.30 -Buy (20)
Large capCapital One FinancialCOFNov 202296.25 $ 138.101.7%Buy (150)
Large capBayer AGBAYRYFeb 202315.41 $ 7.627.1%Buy (24)
Large capTyson FoodsTSNJun 202352.01 $ 56.413.5%Buy (78)
Large capAgnico Eagle MinesAEMNov 202349.80 $ 64.592.3%Buy (75)
Large capFidelity Natl Info ServicesFISDec 202355.50 $ 76.822.7%Buy (85)
Large capBaxter InternationalBAXFeb 202438.79 $ 33.203.3%Buy (60)

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Matthew Warder is Cabot Wealth Network’s Chief Analyst of Cabot Turnaround Letter