Charles Brandes (Trades, Portfolio), chairman of Brandes Investment Partners, reduced 89 stakes in his portfolio in the fourth quarter. His most noteworthy reductions crisscrossed the globe and spanned an investing spectrum that included several in oil and gas companies but also touched on banking and financial services and technology stocks.
Brandes made his most significant fourth-quarter reduction in his stake in Embraer SA (ERJ, Financial), a Brazilian aerospace and defense company. Brandes trimmed his stake by more than 8%, selling 980,533 shares for an average price of $29.38 per share. The transaction had a -0.37% impact on Brandes’ portfolio.
Brandes’ remaining stake of 11,345,919 shares is 6.16% of Embraer’s outstanding shares and 4.92% of Brandes’ total assets. Brandes is Embraer’s leading shareholder among the gurus.
Embraer has a P/E of 926.3, a forward P/E of 11.8, a P/B of 1.4 and a P/S of 0.9. GuruFocus gives Embraer a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.
Embraer sold for $27.76 per share Thursday.
Brandes slashed his stake in Adecoagro SA (AGRO, Financial), a South American agricultural company, by more than 54%. Brandes sold 2,647,025 shares for an average price of $10.61 per share. The deal had a -0.31% impact on Brandes’ portfolio.
Brandes’ stake in Adecoagro is now 2,330,667 shares, which is 1.93% of the company’s outstanding shares and 0.42% of Brandes’ total assets. George Soros (Trades, Portfolio) is Adecoagro’s leading shareholder among the gurus with 25,915,076 shares in his portfolio. Soros’ stake is 21.41% of Adecoagro’s outstanding shares and 3.53% of the guru’s total assets.
Adecoagro has a P/E of 370, a forward P/E of 87, a P/B of 2.5 and a P/S of 2.1. GuruFocus gives Adecoagro a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.
Adecoagro sold for $11.12 per share Thursday.
Brandes trimmed his stake in GlaxoSmithKline PLC (GSK, Financial), a London-based pharmaceutical company, by nearly 8%. Brandes sold 370,052 shares for an average price of $40.81 per share. The transaction had a -0.21% impact on the guru’s portfolio.
Brandes’ stake in GlaxoSmithKline is now 4,303,030 shares, which is 0.18% of GlaxoSmithKline’s outstanding shares and 2.54% of Brandes’ total assets. HOTCHKIS & WILEY is GlaxoSmithKline’s leading shareholder among the gurus with a stake of 12,400,884 shares. The stake is 0.51% of GlaxoSmithKline’s outstanding shares and 1.91% of the guru’s total assets.
GlaxoSmithKline has a P/E of 6.7, a forward P/E of 14.7, a P/B of 12.9 and a P/S of 2.8. GuruFocus gives GlaxoSmithKline a Financial Strength rating of 7/10 and a Profitability and Growth rating of 5/10.
GlaxoSmithKline sold for $39.30 per share Thursday.
Brandes pared his stake in Petroleo Brasileiro SA Petrobras (PBR.A, Financial), a Rio de Janeiro-based oil and gas company, by nearly 6%. Brandes sold 3,798,443 shares for an average price of $3.98 per share. The deal had a -0.21% impact on Brandes’ portfolio.
Brandes’ stake in Petroleo Brasileiro is now 60,012,879 shares, which is 0.92% of the company’s outstanding shares and 3.1% of Brandes’ total assets. Dodge & Cox is Petroleo Brasileiro’s leading shareholder among the gurus with 181,065,303 shares. The stake is 2.78% of the company’s outstanding shares and 0.67% of the guru’s total assets.
Petroleo Brasileiro has a forward P/E of 1.3, a P/B of 0.3 and a P/S of 0.1. GuruFocus gives Petroleo Brasileiro a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.
Petroleo Brasileiro sold for $2.06 per share Thursday.
Brandes reduced his stake in BP PLC (BP, Financial), a London-based oil and gas company, by nearly 1%. Brandes sold 395,496 shares for an average price of $33.84 per share. The transaction had a -0.18% impact on Brandes’ portfolio.
Brandes’ stake in BP is now 3,290,957 shares, which is 0.11% of BP’s outstanding shares and 1.5% of Brandes’ total assets. BP’s leading shareholder among the gurus is James Barrow (Trades, Portfolio) with a stake of 30,061,920 shares. The stake is 0.98% of BP’s outstanding shares and 1.4% of Barrow’s total assets.
BP has a forward P/E of 10.2, a P/B of 0.9 and a P/S of 0.3. GuruFocus gives BP a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.
BP sold for $27.67 per share Thursday.
Brandes sold more than 12% of his stake in UBS Group AG (UBS, Financial), a Zurich-based banking and financial services company. The guru sold 677,572 shares for an average price of $19.52 per share. The deal had a -0.18% impact on Brandes’ portfolio.
Brandes’ stake in UBS is now 4,790,749 shares, which is 0.13% of UBS’ outstanding shares and 1.36% of Brandes’ total assets. UBS’ leading shareholder among the gurus is Dodge & Cox with 30,534,700 shares. The stake is 0.81% of the company’s outstanding shares and 0.57% of Dodge & Cox’s total assets.
UBS has a P/E of 8.6, a forward P/E of 8.7, a P/B of 1 and a P/S of 1.7. GuruFocus gives UBS a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.
UBS sold for $14.27 per share Thursday.
Brandes trimmed his stake in Microsoft Corp. (MSFT, Financial), a Redmond, Washington-based consumer electronics company, by more than 6%. Brandes sold 265,308 shares for an average price of $52.81 per share. The transaction had a -0.17% impact on the guru’s portfolio.
Brandes now has 4,134,222 shares in Microsoft. The stake is 0.05% of Microsoft’s outstanding shares and 3.35% of Brandes’ total assets. Microsoft’s leading shareholder among the gurus is Jeff Ubben (Trades, Portfolio) with 75,273,091 shares. Ubben’s stake is 0.95% of Microsoft’s outstanding shares and 19.37% of Ubben’s total assets.
Microsoft has a P/E of 34.5, a forward P/E of 15.7, a P/B of 5.1 and a P/S of 4.5. GuruFocus gives Microsoft a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.
Microsoft sold for $49.86 per share Thursday.
Brandes cut his stake in CRH PLC (CRH, Financial), the Dublin-based parent company of a group of building materials businesses, by nearly 13%. Brandes sold 397,941 shares for an average price of $28.09 per share. The deal had a -0.15% impact on Brandes’ portfolio.
Brandes’ stake in CRH, now 2,725,747 shares, is 0.33% of CRH’s outstanding shares and 1.15% of Brandes’ total assets. CRH’s leading shareholder among the gurus is James Barrow (Trades, Portfolio) with a stake of 28,264,585 shares. Barrow’s stake is 3.44% of CRH’s outstanding shares and 1.21% of Barrow’s total assets.
CRH has a P/E of 27.2, a forward P/E of 11.3, a P/B of 1.4 and a P/S of 0.8. GuruFocus gives CRH a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.
CRH sold for $24.23 per share Thursday.
Brandes trimmed his stake in Eni SpA (E, Financial), a Rome-based oil and gas company, by more than 9%. Brandes sold 332,383 shares for an average price of $32.23 per share. The transaction had a -0.15% impact on Brandes’ portfolio.
Brandes’ stake in Eni is now 3,342,353 shares, which is 0.18% of Eni’s outstanding shares and 1.46% of Brandes’ total assets. Brandes is Eni’s leading shareholder among the gurus.
Eni has a forward P/E of 12.5, a P/B of 0.7 and a P/S of 0.4. GuruFocus gives Eni a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
Eni sold for $24.96 per share Thursday.
Brandes pared his stake in Citigroup Inc. (C, Financial), a New York-based banking and financial services company, by more than 4%. Brandes sold 186,590 shares for an average price of $53.12 per share. The deal had a -0.14% impact on Brandes’ portfolio.
Brandes now has 4,127,614 shares of Citigroup in his portfolio. The stake is 0.14% of Citigroup’s outstanding shares and 3.12% of Brandes’ total assets. Barrow is Citigroup’s leading shareholder among the gurus with 21,546,244 shares in his portfolio. Barrow’s stake is 0.72% of Citigroup’s outstanding shares and 1.66% of Barrow’s total assets.
Citigroup has a P/E of 8, a forward P/E of 6.4, a P/B of 0.5 and a P/S of 1.4. GuruFocus gives Citigroup a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.
Citigroup sold for $35.05 per share Thursday.
Brandes reduced his stake in Centrais Eletricas Brasileiras SA (EBR, Financial), a Brazilian electric utilities company, by 16%. Brandes sold 6,944,943 shares for an average price of $1.42 per share. The transction had a -0.13% impact on Brandes’ portfolio.
Brandes’ stake in the company is now 36,465,599 shares, which is 2.7% of the company’s outstanding shares and 0.72% of Brandes’ total assets. Brandes is the company’s leading shareholder among the gurus.
Centrais Eletricas has a P/B of 0.2 and a P/S of 0.2. GuruFocus gives Centrais Eletricas a Financial Strength rating of 5/10 and a Profitability and Growth rating of 5/10.
Centrais Eletricas sold for $1.44 per share Thursday.
Brandes trimmed his stake in Xilinx Inc. (XLNX, Financial), a San Jose, California-based supplier of programmable logic devices, by nearly 9%. Brandes sold 206,904 shares for an average price of $47.37 per share. The deal had a -0.13% impact on Brandes’ portfolio.
Brandes now has 2,179,896 shares in Xilinx, which is 0.85% of the company’s outstanding shares and 1.5% of Brandes’ total assets. First Eagle Investment (Trades, Portfolio) is the company’s leading shareholder among the gurus with 10,781,803 shares in its portfolio. The stake is 4.22% of Xilinx’s outstanding shares and 1.15% of First Eagle’s total assets.
Xilinx has a P/E of 23.5, a forward P/E of 19.7, a P/B of 4.7 and a P/S of 5.8. GuruFocus gives Xilinx a Financial Strength rating of 6/10 and a Profitability and Growth rating of 8/10.
Xilinx sold for $47.24 per share Thursday.
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