Do you own any growth stocks in your portfolio? The market is full of brilliant growth stocks for investors to consider right now. Many of those growth picks can provide years, if not decades, of solid growth for investors.
Here’s a look at some of those brilliant growth stocks to consider adding to your portfolio today.
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This is a stellar growth pick for every portfolio
It would be hard to mention a list of brilliant growth stocks and not mention Alimentation Couche-Tard (TSX: ATD). For those unfamiliar with the stock, Couche-Tard is one of the largest convenience store and gas station operators on the planet.
Couche-Tard has a presence in over a dozen countries, with over 9,000 locations in North America alone. One of the reasons for Couche-Tard’s impressive size can be traced back to the company’s aggressive stance on expansion.
Couche-Tard has completed increasingly larger acquisitions over the years, and it’s that feat which has made the retailer the giant it is today. The latest company to move into the crosshairs of Couche-Tard is the largest convenience store operator on the planet, 7-Eleven.
Couche-Tard has approached the Japanese-based owner of 7-Eleven over the past year, with discussions still ongoing. For investors contemplating brilliant growth stocks to buy, this puts Couche-Tard right off the scale and into orbit.
7-Eleven has an extensive network of stores in Asia, boasting unique and popular menu items. In fact, that menu is a compelling, if not distinguishing, feature over the competition.
An acquisition of 7-Eleven by Couche-Tard would provide near-instant access to that market. It would also allow Couche-Tard to take those unique menu items and apply them to North American markets.
Cultivating the best parts from one part of an acquisition and passing it on to others is a skill Couche-Tard is well-known for.
As of the time of writing, Couche-Tard trades down 12% year-to-date, pushing it into discount territory. This furthers the appeal of buying Couche-Tard now as one of the brilliant growth stocks for any portfolio.
Here’s another stellar growth stock to consider
Another one of the brilliant growth stocks for investors to buy right now is Dollarama (TSX: DOL). Dollarama is the largest dollar-store operator in Canada, with approximately 1,500 stores across every province. The company plans to grow that network further to 2,200 within a decade.
Dollar stores are defensive retailers that benefit during market slowdowns thanks to consumers who opt to “trade down” from other retailers.
That’s where Dollarama’s unique pricing tier takes over. Dollarama prices goods across several tiers of fixed prices, up to $5. The retailer is also known to bundle several lower-priced items into a single price point, offering an increased sense of value.
Dollarama’s approach to fixed prices and bundling has worked well. In the most recent quarter, the retailer posted diluted net earnings of $0.98 per share, reflecting a 6.5% increase over the prior period. The company also saw sales increase 5.7% to $1,952.6 million during the quarter.
Prospective investors should take note of one other key advantage that Dollarama has. The company also operates a growing international presence under the Dollar City name.
Dollarama’s international network comprises 588 stores across four Latin American countries, reflecting an increase of 56 net new stores in the past year. The company plans to continue that stellar growth over the longer term in those high-growth markets.
In short, Dollarama is one of the brilliant growth stocks every investor needs for long-term growth.
These brilliant growth stocks can be part of your portfolio
No stock, even the most defensive, is not without some risk. Fortunately, both Dollarama and Couche-Tard offer some defensive appeal to counter the superb growth they boast.
In my opinion, one or both of these brilliant growth stocks should be core holdings as part of a larger, well-diversified portfolio.
Buy them, hold them, and watch them grow.
