Louis Moore Bacon Acquires More Than 1.5 Million Shares of JPMorgan Chase

Guru also invests in stakes in Aramark and Lowe's in 3rd quarter

Dec 17, 2015

Widely respected trader Louis Moore Bacon (Trades, Portfolio) has ETFs as the most heavily weighted sector in his portfolio – and an ETF was among his largest trades of the third quarter – but his most significant activity was in sectors that have less of a presence in his portfolio.

Bacon’s most noteworthy third-quarter transaction was his acquisition of a 1,529,467-share stake in JPMorgan Chase & Co. (JPM, Financial), a New York-based banking and financial services company, for an average price of $65.57 per share. The deal had a 4.39% impact on Bacon’s portfolio.

JPMorgan Chase has a market cap of $244.46 billion and an enterprise value of $212.85 billion. It has a P/E of 11.3, a forward P/E of 10.8, a P/B of 1.1 and a P/S of 2.7. GuruFocus has given JPMorgan Chase a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10.

On Thursday JPMorgan Chase sold for $66.51 per share.

Bacon purchased a 1,500,000-share stake in iShares FTSE/Xinhua China 25 Index (ETF) [FXI] for an average price of $38.9 per share. The acquisition had a 2.5% impact on Bacon’s portfolio.

David Swensen (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), Jim Simons (Trades, Portfolio) and John Keeley (Trades, Portfolio) have shares in iShares FTSE/Xinhua China 25 Index in their portfolios.

The Index sold for $35.83 per share Thursday.

Bacon invested in a 750,000-share stake in Aramark (ARMK, Financial), a Philadelphia-based foodservice company, for an average price of $31.63 per share. The transaction had a 1.05% impact on Bacon’s portfolio.

Aramark has a market cap of $7.79 billion and an enterprise value of $12.96 billion. It has a P/E of 33.8, a forward P/E of 18.5, a P/B of 4.1 and a P/S of 0.6. GuruFocus has given Aramark a Financial Strength rating of 5/10 and a Profitability and Growth rating of 5/10.

Lee Ainslie (Trades, Portfolio), Jana Partners (Trades, Portfolio), Larry Robbins (Trades, Portfolio), Steven Cohen (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Mario Gabelli (Trades, Portfolio) and Caxton Associates (Trades, Portfolio) have shares of Aramark in their portfolios.

On Thursday Aramark sold for $32.52 per share.

Bacon acquired a 305,000-share stake in Lowe's Companies Inc. (LOW, Financial), a Mooresville, North Carolina-based home improvement and appliance retailer, for an average price of $68.77 per share. The acquisition had a 0.99% impact on Bacon’s portfolio.

Lowe’s has a market cap of $68.54 billion and an enterprise value of $79.76 billion. It has a P/E of 23.5, a forward P/E of 23.0, a P/B of 8.3 and a P/S of 8.3. GuruFocus has given Lowe’s a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

Lowe’s sold for $74.9 per share Thursday.

Bacon reduced his stake in Ameriprise Financial Inc. (AMP, Financial), a Minneapolis-based financial services company, by nearly 95%, selling 520,000 shares for an average price of $117.96 per share. The deal had a -1.41% impact on Bacon’s portfolio.

Ameriprise has a market cap of $18.38 billion and an enterprise value of $28.13 billion. It has a P/E of 11.9, a forward P/E of 10.2, a P/B of 2.4 and a P/S of 1.6. GuruFocus has given Ameriprise a Financial Strength rating of 4/10 and a Profitability and Growth rating of 7/10.

Ameriprise sold for $105.70 per share Thursday.

Bacon sold his 273,000-share stake in Baidu Inc. (BIDU, Financial), a Beijing-based Internet services company, for an average price of $164.85 per share. The transaction had a -1.18% impact on Bacon’s portfolio.

Baidu has a market cap of $68.22 billion and an enterprise value of $63.3 billion. It has a P/E of 36.3, a forward P/E of 28.3, a P/B of 7.8 and a P/S of 7.3. GuruFocus has given Baidu a Financial Strength rating of 9/10 and a Profitability and Growth rating of 7/10.

On Thursday Baidu sold for $197.38 per share.

Bacon sold his 685,413-share stake in Endo International PLC (ENDP, Financial), a health care company with offices in Dublin and Malvern, Pennsylvania, for an average price of $80.05 per share. The divestiture had a -1.18% impact on Bacon’s portfolio.

Endo International has a market cap of $14.02 billion and an enterprise value of $22.16 billion. It has a forward P/E of 10.4, a P/B of 2.2 and a P/S of 3.3. GuruFocus has given Endo International a Financial Strength rating of 5/10 and a Profitability and Growth rating of 6/10.

Endo International sold for $61.38 per share Thursday.

Bacon sold his 1,416,316-share stake in JD.com Inc. (JD, Financial), a Beijing-based ecommerce company, for an average price of $28.92 per share. The deal had a -1.05% impact on Bacon’s portfolio.

JD.com has a market cap of $44.29 billion and an enterprise value of $41.46 billion. It has a forward P/E of 188.7, a P/B of 7.7 and a P/S of 1.6. GuruFocus has given JD.com a Financial Strength rating of 6/10 and a Profitability and Growth rating of 2/10.

JD.com sold for $32.38 per share Thursday.

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