Dodge & Cox

Dodge & Cox

Last Update: 11-12-2015

Number of Stocks: 186
Number of New Stocks: 7

Total Value: $99,410 Mil
Q/Q Turnover: 6%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Dodge & Cox Watch

  • Highlights From HP's Final Combined Earnings Call

    Hewlett-Packard (NYSE:HPQ) reported its last earnings announcement as a combined company on Nov. 24. Results for the business continued to reflect weak personal computer sales and challenging industry competition in enterprise technology. Revenue for the full year was down 7% at $103.4 billion. EPS for the year was also lower, down 4% at $3.59.

    HP Inc.


  • John Burbank Jumps in Alphabet, Dollar Tree and Sells Rite Aid, NRG

    John Burbank is the chief investment officer of Passport Capital LLC, the global investment firm he founded in 2000. He manages a portfolio composed of 119 stocks with a total value of $5.55 billion. The following are his largest trades during the third quarter.

    The investor reduced his stake in Liberty Global PLC (LBTYK) by 62.48% with an impact of -3.09% on the portfolio.


  • Stocks With the Highest Dividend Yield in Berkowitz’s Portfolio

    Bruce Berkowitz (Trades, Portfolio) is the founder and the managing member of Fairholme Capital Management. He focuses investments on companies that have exceptional management, generate free cash and are cheaply priced.

    Berkowitz will also invest in mediocre companies trading at a significant discount to intrinsic value where there exists a catalyst. I've selected the stocks with highest dividend yields in Berkowitz’s portfolio.


  • Dodge & Cox Comments on Express Scripts

    Over the past decade, Express Scripts (NASDAQ:ESRX) has been a significant beneficiary of three industry trends: increased generic penetration, mail order pharmacy growth, and industry consolidation. The past round of mergers—CVS/Caremark, Express Scripts/Medco Health Solutions (Medco), and SXC Health Solutions/Catalyst Health—has created an oligopolistic market structure where the top three players now control over 65% of industry volumes.

    Following its merger with Medco in 2012, Express Scripts became the largest PBM in the United States. The company now generates over $100 billion in annual revenue and manages 1.3 billion claims, or 30 percent of all U.S. prescription claims. Today, the company operates three vertically integrated businesses: a basic pharmacy benefit manager, a mail order pharmacy, and a specialty pharmacy. Express Scripts has achieved measurable growth by providing patients with generic drugs. With multiple equivalent treatments available, the company has used its buying power to save money for customers and generate profits; its mission is well aligned with customers looking to reduce health care and pharmacy cost trends. This strategy has boosted generic drug penetration to high levels.


  • Dodge & Cox Global Stock Fund 3rd Quarter Commentary

    The Dodge & Cox Global Stock Fund had a total return of –13.1% for the third quarter of 2015, compared to –8.4% for the MSCI World Index. For the nine months ended September 30, 2015, the Fund had a total return of –11.2%, compared to –6.0% for the MSCI World.

    Market Commentary


  • Dodge & Cox Sells Most of Stakes in Chevron, GlaxoSmithKline

    A team research approach guides Dodge & Cox’s investment decisions. The strategy works pretty well. Dodge & Cox enjoyed returns of more than 10% in 2014, which was good compared to many investors but modes compared to the returns from 2012 (22.01%) and 2013 (40.55%).

    Dodge & Cox’s most noteworthy third-quarter transaction was its sale of nearly 95% of its stake in Chevron Corp. (NYSE:CVX), a San Ramon, Calif.-based oil and gas company. Dodge & Cox sold 10,738,382 shares for an average price of $84.18 per share. The deal had a -0.93% impact on Dodge & Cox’s portfolio.


  • Undervalued Stocks With Growing Earnings Among Dodge & Cox's Holdings

    Dodge & Cox was founded in 1930 by Van Duyn Dodge and E. Morris Cox and employs a team research approach in making investment decisions.

    The following are the most undervalued stocks on the hedge fund’s portfolio that during the last five years have shown a strong growth rate on earnings per share ratio (EPS).


  • EMC Corp's Value Makes It a Worthy Target for Dell

    Recently, the PC-maker Dell Inc. (DELL) announced its purchasing offer to acquire the data-storage company EMC Corp. (EMC) in a $67 billion agreement.

    EMC, together with its subsidiaries, supports the businesses and service providers to transform information technology operations to an as-a-service model (ITaaS). The company operates in three segments: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure.


  • Dodge and Cox Q3 2015 Commentary

  • Insiders Are Buying WidePoint and Selling Paycom

    The All-In-One Guru Screener can be used to find insider buys over the last week by clicking on the Insiders tab and changing the settings for All Insider Buying to “$1,000,000+” and duration to "September 2015."

    According to the above filters, the following are the recent buys from company insiders during the third week of September.


  • Procter and Gamble’s CFO on the Company’s Transformation

    In 2015 Procter & Gamble (NYSE:PG) reported total sales revenue of $76.3 billion. In recent quarters the company’s topline sales have been consistently struggling. In 2015 sales revenue grew at a rate of -5% following 1% revenue growth in 2014. In a discussion at the Barclays Global Consumer Staples Conference, Jon Moeller, Procter & Gamble’s chief financial officer, provided his insight on the firm’s transformation and direction.

    Current market environment


  • Xerox Expands Health Care Technology and Launches New Brand Strategy

    Xerox (NYSE:XRX) is a well-known brand in the technology industry. Its business focuses on two main aspects which include document technology and business process services. In recent quarters it has continued to struggle to gain market share versus its dominant peers IBM (NYSE:IBM) and Hewlett-Packard (NYSE:HPQ). On Aug. 24 Xerox announced the acquisition of health care analytics company RSA Medical and on Aug, 28 also announced the launch of a new brand strategy around the theme “Work Can Work Better.” Despite Xerox’s efforts to expand in health care technology and improve its brand positioning, industry analysts are skeptical of its growth prospects.

    Xerox has been lagging its industry peers in market share and revenue growth over the past few quarters. In its most recent earnings report it posted revenue of $4.6 billion with earnings of $246 million and earnings per share of $0.22. Total revenue missed analysts’ revenue consensus for the second quarter by $50 million and fell 7% from the comparable quarter. Earnings were in line with analysts’ average estimate; however, both earnings and earnings per share fell from the comparable quarter. Earnings were down 19%, and earnings per share were down 12%.


  • Dodge & Cox Funds 2015 Fixed Income Mid-Year Review

    See the video here.

    Read the transcript below.


  • Dodge & Cox Acquires Stake in Priceline

    Founded 85 years ago, San Francisco-based mutual fund company Dodge & Cox examines investment opportunities with a team research approach, then an investment policy committee makes the decision whether to invest. Recent returns have been impressive – 10.43% last year, 40.55% in 2013 and 22.01% in 2012.

    Dodge & Cox made only one new buy in the second quarter, but it was the firm’s most noteworthy transaction. Dodge & Cox invested in a 680,765-share stake in Priceline Group Inc. (NASDAQ:PCLN), a Connecticut-based provider of travel and related services, for an average price of $1,192.39 per share. The deal had a 0.71% impact on Dodge & Cox’s portfolio.


  • Dodge & Cox Funds' 2015 Equity Mid-Year Review

  • Ariel Capital Advisors bought Sanofi and Priceline in Q2 2015

    At the end of the second quarter of 2015, the hedge fund Ariel Capital Advisors reported a total value of its portfolio of $174,199,000 with an increase of 3.44% since the previous quarter.

    During the Q2 2015, the hedge fund bought 282 new stocks and increased 51 stakes. The following are the most heavily weighted buys of U.S. companies the hedge fund has done during that quarter.


  • Dodge & Cox International Stock Fund Q2 Commentary 2015

    The Dodge & Cox International Stock Fund had a total return of –0.3% for the second quarter of 2015, compared to 0.6% for the MSCI EAFE (Europe, Australasia, Far East) Index. For the six months ended June 30, 2015, the Fund had a total return of 3.9%, compared to 5.5% for the MSCI EAFE. At quarter end, the Fund had net assets of $69.7 billion with net cash of 1.7%.

    Market Commentary


  • Dodge & Cox Global Stock Fund Second-Quarter Commentary 2015

    The Dodge & Cox Global Stock Fund had a total return of 0.8% for the second quarter of 2015, compared to 0.3% for the MSCI World Index. For the six months ended June 30, 2015, the Fund had a total return of 2.2%, compared to 2.6% for the MSCI World. At quarter end, the Fund had net assets of $6.5 billion with net cash of 1.7%.

    Market Commentary


  • Dodge & Cox Fund Second Quarter Commentary 2015

    The Dodge & Cox Stock Fund had a total return of 2.6% for the second quarter of 2015, compared to 0.3% for the S&P 500 Index. For the six months ended June 30, 2015, the Fund had a total return of 1.4%, compared to 1.2% for the S&P 500. At quarter end, the Fund had net assets of $59.9 billion with net cash of 0.7%.

    Market commentary


  • Bill Frels' Stocks With Growing Yields

    Bill Frels (Trades, Portfolio) is the portfolio manager at Mairs & Power, which is an SEC-registered investment advisory firm and is Minnesota's oldest investment firm under private ownership and management.

    His portfolio is composed of 187 stocks and it has a total value of $7,270 million.


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User Comments

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