They have only bought back $13m of shares so far and the max they have said they will buy back Is $335m so I don't see a huge problem with that. Get the mediocre news out there, bring the price down for a few months and buy back a lot more shares for the same outlay. Sounds logical and prudent to me.
Agree with you about this being just a blip. Although the soft drink market is in trouble long term but I think they know that and are fortifying other lines and hopefully continue to dominate the general beverage market with their logistical/buying and scale advantages - a bit like Brambles.
I'm a boring holder for the long term but if you can pick the highs and lows and can make it work (as well as picking up most of the dividends) all I can say is go for it!
CCL Price at posting:
$9.71 Sentiment: Hold Disclosure: Held
