Bestinfond (Trades, Portfolio)’s most noteworthy second-quarter transaction was its addition of 133,257 shares to its stake in Volkswagen AG (XTER:VOW3, Financial), a German automotive company. Bestinfond (Trades, Portfolio) bought the shares for an average price of €226.47 (approximately $246.31 in American money) per share. The purchase had a 2.27% impact on Bestinfond (Trades, Portfolio)’s portfolio.
Volkswagen has a market cap of $89.75 billion and an enterprise value of $185.25 billion. It has a P/E of 11.9, a Price/Book of 1.0 and a Price/Sales of 0.4. Causeway International Value (Trades, Portfolio) and Signature Select Canadian Fund (Trades, Portfolio) have shares of Volkswagen in their portfolios.
At the end of July, it was reported that Volkswagen had passed Toyota Motor (TM, Financial) for the designation of largest automaker in the world.
Bestinfond (Trades, Portfolio) also added 2,431,274 shares to its stake in Lenta Ltd. (LSE:LNTA, Financial), a Russian department store chain. Bestinfond (Trades, Portfolio) acquired the shares for an average price of $8.41 per share. The deal had a 1.54% impact on Bestinfond (Trades, Portfolio)’s portfolio.
Lenta has a market cap of $3.62 billion and an enterprise value of $4.74 billion. It has a P/E of 24.6, a Price/Book of 13.4 and a Price/Sales of 1.1.
Bestinfond (Trades, Portfolio) also added 289,797 shares to its stake in KONE Oyj (OHEL:KNEBV, Financial) for an average price of €39.48 (about $42.94 in U.S. currency) per share. The acquisition had an 0.85% impact on Bestinfond (Trades, Portfolio)’s portfolio.
KONE Oyj, an engineering and service company based in Helsinki, Finland, has a market cap of $20.63 billion and an enterprise value of $19.34 billion. It has a P/E of 32.5, a Price/Book of 2.8 and a Price/Sales of 2.5. Bernard Horn (Trades, Portfolio) has shares of KONE Oyj in his portfolio.
Bestinfond (Trades, Portfolio) also added to its stakes in Publicis Groupe SA (XPAR:PUB, Financial), Wolters Kluwer NV (XAMS:WKL, Financial), Brammer PLC (LSE:BRAM) and Rexel SA (XPAR:RXL).
Bestinfond (Trades, Portfolio) made three new purchases in the second quarter – Pandora AS (OCSE:PNDORA), Stagecoach Group PLC (LSE:SGC) and Bovis Homes Group PLC (LSE:BVS).
Bestinfond (Trades, Portfolio) bought 130,601 shares of Pandora AS, a Danish jewelry and apparel retailer, for an average price of kr689.23 (approximately $100.76 in American dollars) per share. The purchase had a 1% impact on Bestinfond (Trades, Portfolio)’s portfolio.
Pandora AS has a market cap of $96.6 billion and an enterprise value of $95.98 billion. It has a P/E of 29.9, a Price/Book of 14.6 and a Price/Sales of 7.8.
Bestinfond (Trades, Portfolio) acquired 902,335 shares of Stagecoach Group, a Scotland-based international transport group, for an average price of £3.9 (about $6.07 in U.S. money) per share. The buy had a 0.42% impact on Bestinfond (Trades, Portfolio)’s portfolio.
Stagecoach Group has a market cap of $2.24 billion and an enterprise value of $2.6 billion. It has a P/E of 17.1, a Price/Book of 24.7 and a Price/Sales of 0.7.
Bestinfond (Trades, Portfolio)’s purchase of Bovis Homes Group was more modest by comparison. Bestinfond (Trades, Portfolio) bought only 5,028 shares of the British-based housebuilding company for an average price of £10.39 (about $16.18 in American currency) per share. The transaction had a 0.01% impact on Bestinfond (Trades, Portfolio)’s portfolio.
Bovis Homes Group has a market cap of $1.58 billion and an enterprise value of $1.57 billion. It has a P/E of 10.7, a Price/Book of 1.3 and a Price/Sales of 2.0.
Divestitures and reductions
Bestinfond (Trades, Portfolio) sold out half a dozen of the stakes in its portfolio – Deere & Co (DE), Willis Group Holdings PLC (WSH), Kering (XPAR:KER), Koninklijke Ahold NV (XAMS:AH), Tianjin Development Holdings Ltd. (HKSE:00882) and LG Household & Health Care Ltd. (XKRX:01905).
Bestinfond (Trades, Portfolio) sold its 344,717-share stake in Deere, an Illinois-based heavy equipment maker, for an average price of $90.96 per share. The sale had a -2.1% impact on Bestinfond (Trades, Portfolio)’s portfolio.
Deere has a market cap of $31.93 billion and an enterprise value of $64.63 billion. It has a P/E of 13.2, a Price/Book of 3.9 and a Price/Sales of 1.0. Warren Buffett (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), Brian Rogers (Trades, Portfolio), James Barrow (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Tom Gayner (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), John Buckingham (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), Manning & Napier Advisors, Robert Olstein (Trades, Portfolio), Dodge & Cox and David Dreman (Trades, Portfolio) have shares of Deere in their portfolios.
Earlier this week, Deere recalled more than 2,000 lawn tractors because of a defect that can cause a crash.
Bestinfond (Trades, Portfolio) also sold its 316,927-share stake in Willis Group Holdings, a London-based insurance broker, for an average price of $48.12 per share. The transaction had a -1.1% impact on Bestinfond (Trades, Portfolio)’s portfolio.
Willis Group has a market cap of $8.26 billion and an enterprise value of $10.07 billion. It has a P/E of 25.6, a Price/Book of 3.6 and a Price/Sales of 2.2. Jeff Ubben (Trades, Portfolio), David Herro (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), Richard Pzena (Trades, Portfolio), HOTCHKIS & WILEY, Charles Brandes (Trades, Portfolio), James Barrow (Trades, Portfolio), Brian Rogers (Trades, Portfolio), Westport Asset Management (Trades, Portfolio), Wallace Weitz (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), Private Capital (Trades, Portfolio), Chuck Royce (Trades, Portfolio), Jim Simons (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio) have shares of Willis Group in their portfolios.
Bestinfond (Trades, Portfolio) sold its 63,152-share stake in Kering, a Paris-based luxury goods holding company, for an average price of €165.72 (about $180.78 in U.S. dollars) per share. The sale had a -0.86% impact on Bestinfond (Trades, Portfolio)’s portfolio.
Kering has a market cap of $22.91 billion and an enterprise value of $27.81 billion. It has a P/E of 38.3, a Price/Book of 2.1 and a Price/Sales of 2.1. David Herro (Trades, Portfolio) has shares of Kering in his portfolio.
Bestinfond (Trades, Portfolio) reduced 16 of its stakes, the most significant being Bayerische Motoren Werke AG (XTER:BMW3), a German auto manufacturer. Bestinfond (Trades, Portfolio) sold 173,192 shares for an average price of €80.69 (roughly $88.02 in American money) per share. The transaction had a -1.13% impact on Bestinfond (Trades, Portfolio)’s portfolio.
Bayerische Motoren Werke has a market cap of $47.65 billion. It has a P/E of 10.7, a Price/Book of 1.6 and a Price/Sales of 0.6.
Johanna Quandt, the widow of German industrialist Herbert Quandt, who invested heavily in BMW when it was near bankruptcy, died this week at the age of 89. With a fortune in excess of $14 billion, Quandt was the second-wealthiest woman in Germany.
Bestinfond (Trades, Portfolio) also sold 13,911 shares of Samsung Electronics Co. Ltd. (XKRX:005935), a South Korean consumer electronics company, for an average price of â‚©1061700 (about $908.18 in U.S. currency) per share. The sale had a -0.97% impact on Bestinfond (Trades, Portfolio)’s portfolio.
Samsung Electronics has a market cap of $113.41 trillion. It has a P/E of 10.1, a Price/Book of 0.9 and a Price/Sales of 0.6. Yacktman Fund (Trades, Portfolio) and Yacktman Focused Fund (Trades, Portfolio) have shares of Samsung Electronics in their portfolios.
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