Weekly highlight of top insider buys: Target Corp. (NYSE:TGT), Taubman Centers Inc. (NYSE:TCO), Sotheby’s (NYSE:BID), Teledyne Technologies Inc. (NYSE:TDY), and Methode Electronics Inc. (METH)
For the complete list of stocks that bought by their company executives, go to: Insider Buys.
Target Corp. (NYSE:TGT): Executive Officer Gregg W Steinhafel Bought 150,000 Shares
Executive Officer of Target Corp., Gregg W Steinhafel, bought 150,000 shares on 3/18/2009 at an average price of $30.35.
Target Corporation operates large-format general merchandise and food discount stores in the United States which include Target and SuperTarget stores. The company offers both everyday essentials and fashionable differentiated merchandise at discounted prices. Target Corp. has a market cap of $22.85 billion; its shares were traded at around $30.35 with a P/E ratio of 10.6 and P/S ratio of 0.3. The dividend yield of Target Corp. stocks is 2.1%. Target Corp. had an annual average earning growth of 11.6% over the past 10 years. GuruFocus rated Target Corp. the business predictability rank of 5-star.
On January 31, 2009, Target Corporation reported net earnings of $609 million for the fourth quarter ended January 31, 2009, compared with $1,028 million in the fourth quarter ended February 2, 2008.
Target Corp. is owned by ten Gurus. They are: John Hussman, Kenneth Fisher, Bill Ackman, PRIMECAP Management, Richard Snow, David Einhorn, Mark Hillman, Ron Baron, Ruanne Cunniff, and Dodge & Cox.
Buy: Executive Officer Gregg W Steinhafel bought 150,000 shares of TGT stock; the price of the stock has decreased by 0.62% since.
Sell: Executive Officer Terrence J Scully and Sell: Executive Officer Douglas A Scovanner both sold shares of TGT stock in December; the price per share has decreased more than 18%.
Taubman Centers Inc. (NYSE:TCO): Director Jerome A Chazen Bought 50,000 Shares
Director of Taubman Centers Inc., Jerome A Chazen, bought 50,000 shares during the past week at an average price of $14.56.
Taubman Centers Inc., a real estate investment trust, is the managing general partner of and owns an interest in The Taubman Realty Group Limited Partnership (TRG). TRG is an operating partnership that engages in the ownership, operation, management, leasing, and development of regional retail shopping centers and interest therein. Taubman Centers Inc. has a market cap of $772.3 million; its shares were traded at around $14.56 with a P/E ratio of 4.7 and P/S ratio of 1.2. The dividend yield of Taubman Centers Inc. stocks is 11.3%. Taubman Centers Inc. had an annual average earning growth of 15.9% over the past 10 years. GuruFocus rated Taubman Centers Inc. the business predictability rank of 2-star.
For the year ended 12/31/08, Taubman Centers Inc. had an annual revenue of $631.4 million, compared to the $589.2 million of 2007. Net income was $-72 million, compared to $63.1 of 2007. For the fourth quarter of 2008, the company had a revenue of $173.1 million and a net income of $-97.1 million.
Taubman Centers Inc. is owned by two Gurus. As of 12/30/08 Chris Davis owns 817,799 shares, which accounts for 0.04% of the $52.56 billion portfolio of Davis Selected Advisers. Ken Heebner owns 2,420,000 shares, which accounts for 0.9% of the $6.87 billion portfolio of CAPITAL GROWTH MANAGEMENT LP.
Buy: President, CEO and Chair BOD, Director Robert S Taubman bought 2,785 shares of TCO stock total November through February; the price of the stock has decreased by 11.7% since his last buy. Buy: COO William S Taubman bought 775 shares of TCO stock on 3/18/2009; the price of the stock has decreased by 11.6% since. Buy: Director Jerome A Chazen bought 50,000 shares of TCO stock and Buy: COO, Director William S Taubman bought 1,350 shares of TCO stock in February.
Sotheby's (NYSE:BID): Director John M Angelo Bought 100,000 Shares
Director of Sotheby's, John M Angelo, bought 100,000 shares during the past week at an average price of $8.87.
Sotheby's Holdings Inc. is an auctioneer of fine arts antiques and collectibles, offering property in collecting categories including paintings, jewelry, decorative arts, and books. Sotheby's Holdings Inc is the parent company of Sotheby's worldwide auction businesses art-related financing and private sales activities. The company operates in countries with principal salesrooms located in New York and London, and also regularly conducts auctions in other salesrooms located around the world in countries such as Australia, Hong Kong, France, Italy, the Netherlands, Switzerland, and Singapore. Sotheby's has a market cap of $595.1 million; its shares were traded at around $8.87 with a P/E ratio of 17.1 and P/S ratio of 0.9. The dividend yield of Sotheby's stocks is 6.8%. Sotheby's had an annual average earning growth of 18.6% over the past 10 years.
On February 26, 2009, Sotheby’s announced its results for fourth quarter and twelve months ended on 12/31/08. For the quarter ended December 31, 2008, the Company reported operating revenues of $166.2 million, a $179.6 million, or
52%, decrease from the fourth quarter of 2007. Net income for the full year 2008 was $28.3 million, a $184.9 million or 87%, decrease from the prior year largely
due to the fourth quarter revenue shortfalls. For the fourth quarter, the Company reported an operating loss of $0.7 million and a net loss of $8.5 million compared to operating income of $141.6 million and net income of $102.4 million for the fourth quarter of 2007.
Sotheby's is owned by 4 Gurus. Charles Brandes bought 27,015 shares in the quarter that ended on 12/31/2008, which is less than 0.01% of the $20.68 billion portfolio of Brandes Investment. John Rogers owns 6,289,188 shares, and this position makes up for 1.35% of the $4.14 billion portfolio of ARIEL CAPITAL MANAGEMENT LLC. Bruce Sherman owns 4,929,547 shares, which accounts for 1.81% of the $2.42 billion portfolio of Private Capital Management. HOTCHKIS & WILEY owns 354,352 shares as of 12/31/2008, a decrease of 65.56% of from the previous quarter. This position accounts for 0.03% of the $10.45 billion portfolio of HOTCHKIS & WILEY Capital Management LLC. Ron Baron sold out his holdings in the same quarter.
Buy: Director John M Angelo has been buying shares of BID throughout March; the price per share has increased by as much as 30% since. Buy: Director Dennis M Weibling bought 15,000 shares of BID stock in December; the price of the stock has decreased by 11.39% since.
Teledyne Technologies Inc. (NYSE:TDY): Exec. VP, Gen. Counsel & Sec. John T Kuelbs Bought 27,630 Shares
Exec. VP, Gen. Counsel & Sec. of Teledyne Technologies Inc., John T Kuelbs, bought 27,630 shares on 3/12/2009 at an average price of $24.76.
Teledyne Technologies Inc. is a leading provider of sophisticated electronic and communication products systems engineering solutions and information technology services and aerospace engines and components. The company customers include aerospace prime contractors general aviation companies government agencies and major communications and other commercial companies. Teledyne Technologies Inc. has a market cap of $891.9 million; its shares were traded at around $24.76 with a P/E ratio of 7.4 and P/S ratio of 0.5. Teledyne Technologies Inc. had an annual average earning growth of 33.2% over the past 5 years.
Teledyne Technologies on January 22, 2009 reported fourth quarter 2008 sales of $467.1 million, compared with sales of $427.5 million for the same period of 2007. Net income for the fourth quarter of 2008 was $30.8 million, compared with net income of $26.6 million in the fourth quarter of 2007. Sales for full-year 2008 were $1,895.3 million, compared with $1,622.3 million for 2007. Net income for full-year 2008 was $122.2 million, compared with $98.5 million for 2007.
Teledyne Technologies Inc. is owned by two Gurus. Kenneth Fisher owns 981,125 shares as of 9/30/2008, which accounts for 0.18% of the $31.63 billion portfolio of Fisher Asset Management, LLC. John Keeley owns 1,183,800 shares as of 12/31/2008; they make up 0.88% of the $6 billion portfolio of Keeley Fund Management.
Buy: Exec. VP, Gen. Counsel & Sec. John T Kuelbs bought 27,630 shares of TDY stock on 3/12/2009; the price of the stock has increased by 6.04% since
Methode Electronics Inc. (METH): Director Christopher J Hornung Bought 75,000 Shares
Director of Methode Electronics Inc., Christopher J Hornung, bought 75,000 shares on 03/17/2009 at an average price of $0.
Methode Electronics Inc. has a market cap of $608.9 million; its shares were traded at around $0 with a P/E ratio of 19.4 and P/S ratio of 1.25. The dividend yield of Methode Electronics Inc. stocks is 1.3%.
Buy: CEO Donald W Duda bought 19,393 shares of METH stock on 3/17/2009 at the average price of $3.33; the price of the stock has decreased by 100% since. Buy: CFO Douglas A Koman bought 4,924 shares of METH stock the same day.
Buy: Director Warren L Batts , Buy: Director Walter J Aspatore , Buy: Director Christopher J Hornung , and Buy: Director Paul G Shelton also all bought shares of METH on 3/17/08.
- CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
- Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
- Double Buys:: Companies that both Gurus and Insiders are buying
- Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.