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Six Sells in Review - The Charles Brandes Third Quarter Update

November 14, 2013 | About:
Sally Jones

Sally Jones

49 followers
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:

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

STMicroelectronics NV (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 (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.

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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. (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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