3 Stocks I Own and Will Buy More of if They Fall

I have owned top stocks like Toronto-Dominion Bank (TSX:TD)(NYSE:TD) for years and have sought to add more in the face of volatility.

Double exposure of a businessman and stairs - Business Success Concept

Image source: Getty Images

The S&P/TSX Composite Index soared 691 points on Tuesday, August 16. Some of the best-performing sectors included health care, information technology, and base metals. Today, I want to look at three stocks I currently own on the TSX. I will explain why I’d look to add more of these equities in the event of a price pullback. Let’s jump in.

I’m still looking to stack Kinaxis stock in this supply chain crisis

Kinaxis (TSX:KXS) is a technology stock I’ve been happy to hang onto for many years. This Ottawa-based company provides cloud-based subscription software for supply chain operations in Canada, the United States, and around the world. The stock debuted on the TSX back in June of 2014. Its shares have dropped 2.8% in 2022 as of close on August 16. Kinaxis is now down 7.2% from the prior year.

This tech stock suffered a sharp correction during the March 2020 market crash. It would go on to double its price over the next year. The company unveiled its second-quarter (Q2) fiscal 2022 earnings on August 9. Kinaxis delivered total revenue growth of 42% in constant currency to $85.2 million. EBITDA stands for interest before interest, taxes, depreciation, and amortization. This measure seeks to give a superior picture of a company’s profitability. In Q2 2022, Kinaxis achieved adjusted EBITDA growth of 45% to $10.3 million.

Shares of Kinaxis have jumped 13% month over month. However, it is not too late to jump on this promising tech stock, as the Canadian market builds momentum in the late summer.

Bank stocks are still profit machines, which means they are still great buy-low targets

TD Bank (TSX:TD)(NYSE:TD) is the second largest of the Big Six Canadian bank stocks. This has been one of my favourite stocks to hold due to its exposure to the United States retail banking sector. Shares of this bank stock have dropped 10% in 2022 as of close on August 16. The stock is still up 2.9% from the prior year.

Investors can expect to see TD Bank’s third-quarter 2022 earnings on August 25. In the second quarter, TD Bank reported a marginal decline in adjusted net income in the year-over-year period. However, I’m still looking to stack Canadian bank stocks for their consistency over the long haul.

This stock possesses an attractive price-to-earnings (P/E) ratio of 10. It offers a quarterly dividend of $0.89 per share. That represents a solid 4% yield.

One more stock I’d look to own more of in a bout of turbulence

Jamieson Wellness (TSX:JWEL) is the third stock I’d look to snatch up more of in the event of a pullback. I’ve been a big fan of Jamieson, as it offers exposure to the promising nutrition and supplements market. Its shares have declined 7.1% in the year-to-date period.

In Q2 2022, the company announced that it had completed its acquisition of Nutrawise Health and Beauty Corporation. This will greatly bolster Jamieson’s expansion into the massive U.S. supplements market. Jamieson also achieved adjusted EBITDA growth of 9.5% to $24.4 million. Moreover, this company also boasts an immaculate balance sheet.

Shares of this stock last had a solid P/E ratio of 28. It offers a quarterly dividend of $0.17 per share, representing a 1.8% yield.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Ambrose O'Callaghan has positions in JAMIESON WELLNESS INC, KINAXIS INC, and TORONTO-DOMINION BANK. The Motley Fool recommends KINAXIS INC.

More on Investing

Shopping for consumer goods

Why Shopify Stock Fell 4% in September

Shopify (TSX:SHOP)(NYSE:SHOP) stock is doing its best to keep growing amid rising macro headwinds.

Read more »

edit Business accounting concept, Business man using calculator with computer laptop, budget and loan paper in office.

3 TSX Stocks I’d Buy This Week

Are you struggling to find stocks to add to your portfolio this week? Here are my three top picks!

Read more »

Target. Stand out from the crowd
Dividend Stocks

3 Oversold Stocks to Buy for Passive Income

These three oversold stocks aren't just great right now for high passive income, but provide exposure to high-growth industries.

Read more »


3 Stocks to Hold in Your TFSA for Easy Tax-Free Income

Telco stocks like BCE Inc (TSX:BCE) offer high dividend income -- especially when held in a TFSA!

Read more »

Hand arranging wood block stacking as step stair with arrow up.

Why Shawcor (TSX:SCL) Stock Jumped 9% in September

Shawcor Ltd. (TSX:SCL) stock has rallied off big gains after announcing that big changes may be ahead over the next…

Read more »

Mature financial advisor showing report to young couple for their investment
Bank Stocks

Retire Young: How to Turn a TFSA or RRSP Into $1 Million

Here’s how you can turn your TSFA or RRSP into $1 million or more to plan your early retirement.

Read more »

A person holds a small glass jar of marijuana.
Cannabis Stocks

Cannabis Stocks Jump: What Investors Need to Know

Cannabis stocks have started to recover in recent weeks, showing there might be signs that now is the time to…

Read more »

money cash dividends
Dividend Stocks

TFSA Passive Income: Invest $30,000 to Earn $500,000 + $7,800 in Tax-Free Dividends

Make the power of compounding work for you and turn a $30,000 investment into $500,000 in the next 20 years.

Read more »