Caxton Associates Adds to Holdings in Monster Beverage

Guru trims stake in Citigroup, invests in Macy's

Dec 21, 2015

New York-based Caxton Associates (Trades, Portfolio) tends to favor ETFs when it makes investments, and there were some of those in the firm’s third-quarter trading activity, but its largest deals involved companies known for energy drinks and construction.

The firm’s largest third-quarter transaction was the addition of 1,146,250 shares to its existing stake in Monster Beverage (MNST, Financial), a Corona, California-based manufacturer of energy drinks, natural soft drinks and fruit drinks. The purchase, in which the firm paid $140.62 per share, raised the stake by a whopping 5,731% and had a 9.54% impact on its portfolio.

Monster has a market cap of $29.78 billion and an enterprise value of $27 billion. It has a P/E of 51.6, a forward P/E of 36.9, a P/B of 6.4 and a P/S of 10.1. GuruFocus has given Monster a Financial Strength rating of 9/10 and a Profitability and Growth rating of 8/10.

Caxton Associates (Trades, Portfolio) is Monster’s leading shareholder among the gurus with 1,166,250 shares in its portfolio. Jim Simons (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), Jeff Auxier (Trades, Portfolio) and Murray Stahl (Trades, Portfolio) have shares of Monster in their portfolios.

Monster sold for $147.48 per share Monday.

Caxton Associates (Trades, Portfolio) also increased its stake in Lennar (LEN, Financial), a Miami-based construction company, by nearly 305%. The firm purchased 880,900 shares for an average price of $51.57 per share. The deal had a 2.61% impact on its portfolio.

Lennar has a market cap of $10.05 billion and an enterprise value of $16.42 billion. It has a P/E of 14.5, a forward P/E of 11.7, a P/B of 1.9 and a P/S of 1.2. GuruFocus has given Lennar a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.

Ken Heebner (Trades, Portfolio), James Barrow (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Murray Stahl (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Manning & Napier Advisors Inc., Louis Moore Bacon (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) have shares of Lennar in their portfolios.

Lennar sold for $48.05 per share Monday.

Caxton Associates (Trades, Portfolio) raised its stake in D.R. Horton (DHI, Financial), a Fort Worth, Texas-based home construction company, by more than 180%. Caxton acquired 1,283,136 shares for an average price of $29.46 per share. The transaction had a 2.32% impact on Caxton’s portfolio.

D.R. Horton has a market cap of $11.57 billion and an enterprise value of $13.99 billion. It has a P/E of 17.0, a forward P/E of 12.7, a P/B of 2.0 and a P/S of 1.2. GuruFocus has given D.R. Horton a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.

Ken Heebner (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Scott Black (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Manning & Napier Advisors Inc., Louis Moore Bacon (Trades, Portfolio), Murray Stahl (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) have shares of D.R. Horton in their portfolios.

D.R. Horton sold for $31.41 per share Monday.

Caxton added 1,000,000 shares to its stake in PulteGroup (PHM, Financial), an Atlanta-based homebuilding company, for an average price of $20.35 per share. The transaction had a 1.16% impact on Caxton’s portfolio.

PulteGroup has a market cap of $6.18 billion and an enterprise value of $7.64 billion. It has a P/E of 13.3, a forward P/E of 10.9, a P/B of 1.4 and a P/S of 1.1. GuruFocus has given PulteGroup a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.

Pioneer Investments (Trades, Portfolio), Arnold Schneider (Trades, Portfolio) and Ronald Muhlenkamp (Trades, Portfolio) have shares of PulteGroup in their portfolios.

PulteGroup sold for $17.77 per share Monday.

Caxton reduced its stake in Citigroup (C, Financial), a New York-based banking and financial services company, by more than 75%. Caxton sold 663,252 shares for an average price of $54.69 per share. The deal had a -1.66% impact on the firm’s portfolio.

Citigroup has a market cap of $153.3 billion and has an enterprise value of $246.26 billion. It has a P/E of 11.7, a forward P/E of 8.8, a P/B of 0.7 and a P/S of 2.1. GuruFocus has given Citigroup a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.

Citigroup sold for $51.79 per share Monday.

Caxton sold its 1,431,269-share stake in Financial Select Sector SPDR (ETF) [XLF] for an average price of $24.13 per share. The divestiture had a -1.58% impact on Caxton’s portfolio.

Ken Fisher (Trades, Portfolio), Jim Simons (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), Mario Gabelli (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of Financial Select Sector SPDR in their portfolios.

Financial Select Sector SPDR sold for $23.53 per share Monday.

Caxton also sold its 585,000-share stake in Oracle (ORCL, Financial), a Redwood City, California-based computer technology company, for an average price of $38.44 per share. The transaction had a -1.07% impact on Caxton’s portfolio.

Oracle has a market cap of $154.7 billion and an enterprise value of $141.26 billion. It has a P/E of 16.9, a forward P/E of 13.9, a P/B of 3.4 and a P/S of 4.3. GuruFocus has given Oracle a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.

Oracle sold for $36.42 per share Monday.

Caxton acquired new stakes in 24 companies in the third quarter. The most noteworthy was a 355,663-share stake in Macy's (M, Financial), a Cincinnati-based retail chain, for an average price of $62.72 per share. The deal had a 1.12% impact on Caxton’s portfolio.

Macy’s has a market cap of $11.01 billion and an enterprise value of $18.5 billion. It has a P/E of 9.1, a forward P/E of 8.6, a P/B of 2.8 and a P/S of 0.4. GuruFocus has given Macy’s a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

T Rowe Price Equity Income Fund (Trades, Portfolio), Richard Snow (Trades, Portfolio), Jim Simons (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Scott Black (Trades, Portfolio), David Dreman (Trades, Portfolio) and Dodge & Cox have shares of Macy’s in their portfolios.

Macy’s sold for $35.02 per share Monday.

Caxton purchased a 338,800-share stake in Wells Fargo (WFC), a San Francisco-based banking and financial services company, for an average price of $54.99 per share. The acquisition had a 1.07% impact on Caxton’s portfolio.

Wells Fargo has a market cap of $275.92 billion and an enterprise value of $555.29 billion. It has a P/E of 13.0, a forward P/E of 12.1, a P/B of 1.6 and a P/S of 3.3. GuruFocus has given Wells Fargo a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.

Wells Fargo sold for $54.02 per share Monday.

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