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Irving Kahn’s High-Impact Sells in Third Quarter

November 07, 2013 | About:
Sally Jones

Sally Jones

49 followers
The third quarter portfolio of Irving Kahn of Kahn Brothers Group lists 43 stocks, two of them new, with a total value of $687 million and a 4% quarter over quarter turnover. As of Sept. 30, 2013, centenarian Irving Kahn made these four high-impact reductions. Here are Guru Kahn’s trade details and the latest company financials.

Sallie Mae (SLM): Reduced

Impacts Portfolio: 1.58%

Kahn’s Current Shares: 1,065,802

As of Sept. 30, 2013, Kahn Brothers reduced its position by 29.8%, selling 452,499 shares at an average price of $24.42, for a 2.6% gain.

Kahn has averaged a 105% gain on the 2,084,719 shares bought at an average price of $12.23 per share. On 1,032,717 shares sold at an average price of $21.46, he has averaged a gain of 17%.

Check out this remarkable history of pure gains:

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Up 49% over 12 months, Sallie Mae has a market cap of $10.93 billion, and trades with a P/E of 7.70 and a P/B of 2.20. The dividend yield is 2.30%.

The current SLM share price is $25.06, compared to historical pricing.

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Originally created in 1972 as a government-sponsored enterprise, Sallie Mae’s government charter dissolved in 2004, and today the company is a publicly traded, private-sector financial services company specializing in education.

The company reported financial results for the third quarter of 2013, with a net income of $260 million up from $188 million in the same quarter of 2012. Earnings per diluted common share were $0.57 for the reporting quarter, compared to $0.39 in the third quarter a year ago.

Seaboard Corporation (SEB): Reduced

Impacts Portfolio: 0.27%

Kahn’s Current Shares: 13,386

As of Sept. 30, 2013, Kahn Brothers reduced its position by 4.41%, selling 618 shares at an average price of $2,800.81, for a loss of 2.5%.

Over another remarkable five-year history of gains, Kahn has averaged a 57% gain on 822 shares bought at an average price of $1,740.48 per share. Selling 5,914 shares at an average price of $1,779.96 he averaged a gain of 53%.

Up 22% over 12 months, Seaboard Corporation has a market cap of $3.25 billion, and trades with a P/E of 13.30 and a P/B of 1.40. The company does not pay a dividend.

The current SEB share price is $2,730.00, compared to historical pricing.

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Seaboard Corporation is a diverse agribusiness and transportation company. In the United States, the company is primarily engaged in pork production, processing and ocean transportation. Overseas, the company is engaged in commodity merchandising, grain processing, sugar production and electric power generation.

The company reported financial results for the third quarter of 2013, with a net earnings of $30.9 million up from $74.4 million in the same quarter of 2012. Net sales for the third quarter of 2013 were $1.64 billion up from $1.47 billion in the same quarter a year ago. Net earnings per common share were $25.99 for the reporting quarter, compared to $61.92 in the third quarter a year ago.

Pfizer Inc. (PFE): Reduced

Impacts Portfolio: 0.15%

Kahn’s Current Shares: 2,508,002

As of Sept. 30, 2013, Kahn Brothers reduced its position by 1.32%, unloading 33,620 shares at an average price of $28.68, for a gain of 8.9%.

Kahn has averaged a 74% gain on the 1,266,951 shares bought at an average price of $17.94. Selling 412,794 shares at an average price of $20.63 per share, he averaged a gain of 51%.

Up 29% over 12 months, Pfizer Inc. has a market cap of $206.69 billion, and trades with a P/E of 8.80. The dividend yield is 3.10%.

The current PFE share price is $31.22, compared to historical pricing.

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Founded in 1849, Pfizer Inc. is a global pharmaceutical firm that develops and produces medicines and vaccines for a range of conditions in the areas of immunology, inflammation, oncology, cardiovascular and metabolic diseases, neuroscience and pain.

The company reported financial results for the third quarter of 2013, with revenue of $12.6 billion, down 2% from the same quarter a year ago at $12.9 billion. The company’s adjusted income was up 3% at $3.85 billion in the third quarter of 2013. Pfizer’s net income was down 19% at $2.59 billion, compared to $3.20 billion in the same quarter of 2012. Down 9%, earnings per diluted share were $0.39 for the reporting quarter, compared to $0.43 in the third quarter a year ago.



Bristol-Myers Squibb Company (BMY): Reduced

Impacts Portfolio: 0.19%

Kahn’s Current Shares: 28,300

As of Sept. 30, 2013, Kahn Brothers reduced its position by 48.95%, selling 27,133 shares at an average price of $43.90, for a 17.9% gain.

In another trading history of high gains, Kahn has averaged a gain of 141% on 704,060 shares bought at an average price of $21.45. Selling 1,788,609 shares at an average price of $35.01, he averaged a gain of 48%.

Up 61% over 12 months, Bristol-Myers Squibb Company has a market cap of $85.06 billion, and trades with a P/E of 31.00. The dividend yield is 2.70%.

The current share price is $51.66, compared to historical pricing.

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First incorporated in 1933, Bristol-Myers Squibb Company is a biopharmaceutical company engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The company operates in one segment, Biopharmaceuticals.

The company reported financial results for the third quarter of 2013, with net sales up 9%, at $4.06 billion, compared to $3.73 billion in the same quarter a year ago. Up 12%, the company’s non-GAAP earnings per diluted share were $0.46 for the reporting quarter, compared to $0.41 in the third quarter a year ago. The company’s balance sheet at the end of third quarter 2013 had $6.3 billion in cash, cash equivalents and marketable securities, with a net debt of $867 million.

Irving Kahn and his brothers Alan and Thomas, founded Kahn Brothers & Company Inc. in 1978, and was later renamed Kahn Brothers Group.



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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

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