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Steven Cohen’s SAC Capital Advisors Q3 Updates: Buys Fossil, Fastenal Company and C.R. Bard
Posted by: Dianne Tordillo (IP Logged)
Date: November 19, 2012 07:59PM
Among the almost 2,000 transactions that SAC Capital Advisors reported in the 13F holdings report to the SEC for the period ending Sept. 30, Fossil Inc. (FOSL), Fastenal Company (FAST) and C.R. Bard (BCR) were the company’s top three new buys.
The transactions consisted of:
Currently, Guru Steven Cohen has 1,486 stocks in his expansive portfolio, valued about $15.9 billion, with a quarter-over-quarter turnover rate of 49 percent.
Cohen’s portfolio sector weighting is as follows:
His top holdings are:
1. Sirius XM Radio Inc. (SIRI) representing 2.2% of his portfolio, which is 3.43% of shares outstanding.
2. American International Group Inc. (AIG) representing 1.8% of his portfolio, which is 0.54% of shares outstanding.
3. Tiffany & Co. (TIF) representing 1.3% of his portfolio, which is 2.56% of shares outstanding.
4. Gilead Sciences Inc. (GILD) representing 1.3% of his portfolio, which is 0.41% of shares outstanding.
5. Andarko Petroleum Corp. representing 1.3% of his portfolio, which is 0.61% of shares outstanding.
Below are Cohen’s top three buys out of his third quarter updates, based on impact to his portfolio.
Fossil Inc. (FOSL)
Texas-based fashion retailer Fossil Inc. (FOSL) is back on Cohen’s portfolio for the fifth time in five years, as he reported consistently buying and selling Fossil shares over previous quarters.
Cohen sold all of his shares of Fossil in the first quarter of this year before buying them back, plus a little bit more in the third quarter. While he reported to owning 63,271 Fossil shares in the fourth quarter of 2011, he now has almost 1.4 million shares of the stock.
Cohen is 2.29% owner of Fossil.
With a market cap of almost $5 billion, Fossil produces vintage-inspired watches, handbags and clothing, as well as creates fashion accessories for a number of owned and licensed brands such as Relic, Emporio Armani and DKNY, to name a few.
Before acquiring Skagen Designs Ltd. in April, Fossil stock was selling as high as $136 per share. Currently, its market price is $83.46.
Fossil has a Business Predictability rank of 4.5 stars, as well as a Financial Strength and Profitability and Growth rank of 9 out of 10. Fossil’s revenue growth has been consistently increasing for the past 10 years, at a rate of about 16 percent, and 21 percent growth in the last 12 months. Its EBITDA growth has also been growing in the course of a decade, at 18 percent and 11.6 percent in the past 12 months. Free cash flow, book value growth and earnings per share are all experiencing a positive trend line.
View more of Fossil’s data on 10-Year Financials.
Fastenal Company (FAST)
As with Fossil, construction supplies provider Fastenal Company (FAST) has been in Cohen’s profile in previous quarters; this recent transaction is Cohen’s sixth new purchase of the company in the last five years, his current holding totaling to a little over 1 million shares. The average price of Fastenal stock was $42.80 upon the time of the purchase.
Founded in 1967, Fastenal has almost 3,000 store locations that not only sell construction supplies, but also services such as fastener design and engineering support and material pre-cutting.
Fastenal has a trade price of $41.20 per share, trading close to its one-year low, and a market cap of $12.14 billion. Fastenal also has a Financial Strength of 10 and a Profitability and Growth of 8 on GuruFocus.
Despite one Severe Warning sign indicating cash flow divergence, Fastenal has nine Good Signs, which boasts about its strong Altman Z-Score, expanding operating margin, high dividend yield and low P/E and P/B ratios.
View the rest of Fastenal’s data on 10-Year Financials.
C.R. Bard Inc. (BCR)
As his largest holding of C.R. Bard (BCR) in five years, Cohen’s recent purchase amounted to 428,700 shares, after selling all of his previous shares of the company in the second quarter. Cohen has bought and sold out of C.R. Bard six times before.
C.R. Bard has a market cap of $8.03 billion. Its primary business involves the development and manufacturing of medical technology, aiding in the vascular, urology, oncology and surgical specialty fields. Its stock is trading at $96.55 per share.
Ranking high in Business Predictability, C.R. Bard shows consistent growth in revenue, at a positive rate of 11.4 percent in 10 years. On the other hand, its free cash flow growth has been in decline for the past 12 months.
Its two Severe Warning signs indicate a disproportionate growth in assets, compared to its revenue as well as a falling operating margin. In contrast, its three Good Signs shows growth in per share revenue and its P/E and P/S ratios experiencing 10-year and 3-year lows.
View more of its data in 10-Year Financials.
Guru Discussed: Steven Cohen: Current Portfolio, Stock Picks
Stocks Discussed: FOSL, FAST, BCR,