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Sally Jones
Sally Jones
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Six Sells in Review - The Charles Brandes Third Quarter Update

November 14, 2013 | About:

The third quarter portfolio of Brandes Investment, managed by Guru Charles Brandes, shows 42 reductions and sellouts combined. The recent Brandes’s portfolio lists 172 stocks, 27 of them new, and a total value at $7.76 billion. The quarter-over-quarter turnover is 5%. The portfolio is weighted with financial services at 20.8%, technology at 19.7% and communication services at 16.6%. Charles Brandes is averaging a return of 9.29% over 12 months. In 2012, he returned 18.54% against the S&P 500’s 15.4%.

Here’s a review of six of Brandes’s sells, as of Sept. 30, 2013.

PDI Inc. (PDII): Sold Out

Down 16% over 12 months, PDI Inc. has a market cap of $79.14 million; its shares trade with a P/B ratio of 2.20. The company does not pay a dividend.

Guru Action: As of Sept. 30, 2013, Charles Brandes sold out his PDI holding, unloading 10,800 shares at an average price of $4.79 per share, gaining 9.1%.

The current share price is around $5.22, with a change from average up 9%.

Holding for two quarters only, Charles Brandes averaged a gain of 15% making a new buy of 10,800 shares at an average price of $4.54 per share in the second quarter of 2013.

Track historical pricing, revenue and net income:

1384389956370.png

Chuck Royce reduced his PDII position by 20.31% in the third quarter. There is no recent insider trading found.

STMicroelectronics NV (NYSE:STM): Sold Out

Up 38% over 12 months, STMicroelectronics NV has a market cap of $6.8 billion; its shares trade with a P/B ratio of 1.20. The dividend yield is 4.70%.

Guru Action: As of Sept. 30, 2013, Charles Brandes sold out his STM holding, selling 15,870 shares at an average price of $8.91 per share, losing 14.3%.

The current share price is around $7.64, with a change from average down 14%.

In five years of mixed results, Charles Brandes’s highest gain of 36.7% was made selling 1,264,881 shares at an average price of $5.59 per share in the third quarter of 2013.

Track historical pricing, revenue and net income:

1384390259732.png

Corinthian Colleges Inc. (COCO): Sold Out

Up 0% over 12 months, Corinthian Colleges Inc. has a market cap of $175.83 million; its shares trade with a P/B ratio of 0.30. The company does not pay a dividend.

Guru Action: As of Sept. 30, 2013, Charles Brandes sold out his COCO holding, selling 14,411 shares at an average price of $2.32 per share, losing 12.5%.

The current share price is around $2.03, with a change from average down 12%.

Holding for two quarters only, Charles Brandes took a loss of 8.6% when he made a new buy of 14,411 shares at an average price of $2.22 per share in the second quarter of 2013.

International Flavors & Fragrance (NYSE:IFF): Sold Out

Up 44% over 12 months, International Flavors & Fragrance has a market cap of $7.24 billion; its shares trade with a P/E ratio of 26.30. The dividend yield is 1.60%.

Guru Action: As of Sept. 30, 2013, Charles Brandes sold out his IFF holding, selling 4,135 shares at an average price of $80.96 per share, gaining 9.6%.

Check out his remarkable trading history of gains.

1384389297148.png

The current IFF share price is around $88.75, with a change from average up 10%.

See more recent guru trades and IFF insider selling.

Investors Bancorp Inc. (NASDAQ:ISBC): Sold Out

Up 47% over 12 months, Investors Bancorp Inc. has a market cap of $2.67 billion; its shares trade with a P/E ratio of 24.20. The dividend yield is 0.90%.

Guru Action: As of Sept. 30, 2013, Charles Brandes sold out his ISBC holding, unloading 15,680 shares at an average price of $21.85 per share, gaining 8.7%.

This is another five-year history of pure gains.

1384389426205.png

The current ISBC share price is around $23.75, with a change from average up 9%.

There’s more guru action in third quarter and recent ISBC insider trading.

Joe’s Jeans Inc. (JOEZ): Sold Out

Up 23% over 12 months, Joe’s Jeans Inc. has a market cap of $75.33 million; its shares trade with a P/B ratio of 1.10. The company does not pay a dividend.

Guru Action: As of Sept. 30, 2013, Charles Brandes sold out his JOEZ holding, selling 20,045 shares at an average price of $1.3 per share, losing 15.4%.

The current share price is around $1.10, with a change from average down 15%.

Charles Brandes held JOEZ for three losing quarters and his first quarter with a 0% loss when he made a new buy of 20,595 shares at an average price of $1.10 per share in the third quarter of 2012.

Charles Brandes was one of three gurus trading JOEZ in the third quarter, and there is recent insider selling.

A gifted author and one of the world’s richest, Charles Brandes is the chairman of Brandes Investment Partners, a firm he started in 1974. Brandes is a Benjamin Graham disciple.



Here’s the complete portfolio update of Charles Brandes.



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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."

Rating: 4.5/5 (2 votes)

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