Steven Romick (Trades, Portfolio), portfolio manager of FPA Crescent Fund, bought only one new stake in the first quarter, but it was big enough to become the 15th-largest stake in his portfolio.
Romick acquired a 17,836,443-share stake in Leucadia National (Trades, Portfolio) Corp. (LUK, Financial), a New York-based holding company, for an average price of $15.73 per share. The purchase had a 3.06% impact on Romick’s portfolio.
The stake is 4.92% of Leucadia’s outstanding shares and 3.06% of Romick’s total assets. The acquisition made Romick the company’s leading shareholder among the gurus.
Leucadia has a P/E of 22.9, a forward P/E of 156.3, a P/B of 0.6 and a P/S of 0.5. GuruFocus gives Leucadia a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.
Leucadia sold for $16.06 per share Tuesday.
Romick trimmed his stake in Microsoft Corp. (MSFT, Financial), a Redmond, Washington-based technology company, by more than 31%. Romick sold 3,603,468 shares for an average price of $52.42 per share. The deal had a -2.1% impact on Romick’s portfolio.
The remaining stake of 7,981,360 shares is 0.1% of Microsoft’s outstanding shares and 4.67% of Romick’s total assets. The stake is the ninth-most valuable in Romick’s portfolio.
Microsoft’s leading shareholder among the gurus is Dodge & Cox with a stake of 66,559,905 shares. The stake is 0.84% of Microsoft’s outstanding shares and 3.62% of Dodge & Cox’s total assets.
Microsoft has a P/E of 39, a forward P/E of 17.3, a P/B of 5.6 and a P/S of 5. GuruFocus gives Microsoft a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.
Microsoft sold for $54.65 per share Tuesday.
Romick sold nearly 87% of his stake in The Interpublic Group of Companies Inc. (IPG, Financial), a New York-based global advertising holding company. The guru sold 7,783,925 shares for an average price of $21.62 per share. The transaction had a -1.91% impact on Romick’s portfolio.
The remaining stake of 1,202,675 shares is 0.3% of the company’s outstanding shares and 0.29% of Romick’s total assets. The company’s leading shareholder among the gurus is Paul Singer (Trades, Portfolio) with a stake of 20,015,326 shares. The stake is 4.98% of the company’s outstanding shares and 5.7% of Singer’s total assets.
The Interpublic Group of Companies has a P/E of 20.8, a forward P/E of 15, a P/B of 4.7 and a P/S of 1.3. GuruFocus give The Interpublic Group of Companies a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10.
The Interpublic Group of Companies sold for $22.79 per share Tuesday.
Romick reduced his stake in Carlsberg A/S (OCSE:CARL B), a Copenhagen-based brewing company, by almost 80%. Romick sold 1,532,514 shares for an average price of kr583.94 ($89.49 in U.S. currency) per share. The deal had a -1.43% impact on Romick’s portfolio.
The remaining stake of 389,330 shares is 0.26% of Carlsberg’s outstanding shares and 0.39% of Romick’s total assets. Romick is Carlsberg’s leading shareholder among the gurus.
Carlsberg has a forward P/E of 18.1, a P/B of 2.2 and a P/S of 1.4. GuruFocus gives Carlsberg a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.
Carlsberg sold for kr614.5 ($94.18 in American dollars) per share Monday.
Romick sold more than 55% of his stake in Unilever NV (XAMS:UNA, Financial), a Dutch consumer goods company with offices in the Netherlands, North Carolina and the United Kingdom. Romick sold 2,373,000 shares for an average price of €39.02 ($44.51 in American money). The transaction had a -1.09% impact on Romick’s portfolio.
The remaining stake of 1,932,200 shares is 0.06% of Unilever’s outstanding shares and 0.92% of Romick’s total assets. Romick is Unilever’s leading shareholder among the gurus.
Unilever has a P/E of 23, a P/B of 7.7 and a P/S of 2. GuruFocus gives Unilever a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.
Unilever sold for €39.53 ($45.09 in U.S. currency) per share Monday.
Romick more than doubled his stake in CIT Group Inc. (CIT, Financial), a New York-based financial services company, with the purchase of 5,952,662 shares for an average price of $31.6 per share. The deal had a 1.96% impact on Romick’s portfolio.
The stake, now 11,262,762 shares, is 5.59% of CIT Group’s outstanding shares and 3.7% of Romick’s total assets. Romick is CIT Group’s leading shareholder among the gurus.
CIT Group has a P/E of 5.7, a forward P/E of 7.5, a P/B of 0.6 and a P/S of 2.1. GuruFocus gives CIT Group a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
CIT Group sold for $31.45 per share Tuesday.
Romick nearly doubled his stake in American Express Co. (AXP, Financial), a New York-based financial services company, with the purchase of 2,410,999 shares for an average price of $58.34 per share. The transaction had a 1.57% impact on Romick’s portfolio.
The stake is now 5,057,409 shares. Warren Buffett (Trades, Portfolio) was American Express’ leading shareholder among the gurus at the end of the fourth quarter with a stake of 151,610,700 shares.
American Express has a P/E of 12, a forward P/E of 10.7, a P/B of 2.8 and a P/S of 1.8. GuruFocus gives American Express a Financial Strength rating of 4/10 and a Profitability and Growth rating of 8/10.
American Express sold for $60.68 per share Tuesday.
Romick raised his stake in Bank of America Corp. (BAC, Financial), a Charlotte, North Carolina-based banking and financial services company, by more than 33%. Romick purchased 5,850,370 shares for an average price of $13.54 per share. The deal had a 0.84% impact on Romick’s portfolio.
The stake, now 23,487,790 shares, is 0.23% of Bank of America’s outstanding shares and 3.37% of Romick’s total assets. Dodge & Cox is Bank of America’s leading shareholder among the gurus with a stake of 187,074,863 shares. The stake is 1.81% of Bank of America’s outstanding shares and 3.09% of Dodge & Cox’s total assets.
Bank of America has a P/E of 10.2, a forward P/E of 7.8, a P/B of 0.6 and a P/S of 1.7. GuruFocus gives Bank of America a Financial Strength rating of 6/10 and a Profitability and Growth rating of 4/10.
Bank of America sold for $13.27 per share Tuesday.
Romick boosted his stake in American International Group Inc. (AIG, Financial), a New York-based insurance and financial services company, by nearly 18%. Romick acquired 1,412,230 shares for an average price of $54.15 per share. The transaction had a 0.81% impact on Romick’s portfolio.
The stake is now 9,381,080 shares. American International Group’s leading shareholder at the end of the fourth quarter was Carl Icahn (Trades, Portfolio) with a stake of 42,244,071 shares.
American International Group has a P/E of 37.9, a forward P/E of 9.2, a P/B of 0.7 and a P/S of 1.2. GuruFocus gives American International Group a Financial Strength rating of 6/10 and a Profitability and Growth rating of 4/10.
American International Group sold for $53.79 per share Tuesday.
Romick sold his 1,035,427-share stake in Anheuser-Busch Inbev SA (BUD), a Belgium-based beverage and brewing company, for an average price of $118.67 per share. The divestiture had a -1.36% impact on Romick’s portfolio.
Anheuser-Busch’s leading shareholder among the gurus is Tom Russo (Trades, Portfolio) with a stake of 6,456,812 shares. The stake is 0.4% of Anheuser-Busch’s outstanding shares and 6.9% of Russo’s total assets.
Anheuser-Busch has a P/E of 24.1, a forward P/E of 22.3, a P/B of 4.4 and a P/S of 4.5. GuruFocus gives Anheuser-Busch a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.
Anheuser-Busch sold for $121.13 per share Tuesday.
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