Last week's top five guru bargain stocks were KeyCorp (KEY, Financial), Baxter International Inc (BAX, Financial), TIME WARNER CABLE INC (TWC, Financial), Fairfax Financial Holdings Ltd (FFH, Financial), and SLM Corp (SLM, Financial). According to GuruFocus updates, these stocks have declined the most since Gurus have bought.
KeyCorp (KEY): Down 25% Since HOTCHKIS & WILEY Bought In the Quarter Ended on 2009-03-31
HOTCHKIS & WILEY added to his holdings in Banks company KeyCorp by 27.06% during the quarter ended 03/31/2009. He owned 24,665,219 shares of as of 03/31/2009. KeyCorp is an integrated multi-line financial services company. Its subsidiaries provide a wide range of investment management retail and commercial banking consumer finance and investment banking products and services to corporate individual and institutional clients through four lines of business: Key Retail Banking Key Specialty Finance Key Corporate Capital and Key Capital Partners. KeyCorp has a market cap of $2.69 billion; its shares were traded at around $5.43 with and P/S ratio of 0.5. The dividend yield of KeyCorp stocks is 4.6%. KeyCorp had an annual average earning growth of 9.9% over the past 5 years.
KeyCorp recently reported its first quarter 2009 results. The company announced that its EPS was $1.09 per share. Net income was $218 million. “Our results reflect an extremely challenging operating environment and the expedient steps we continue to take to identify problem loans and to build Key’s loan loss reserves,” said Chief Executive Officer Henry L. Meyer III. “We believe building additional reserves is appropriate given the continued pressure on credit quality, as more businesses and consumers are affected by the persistent severity of the economic downturn.
HOTCHKIS & WILEY owns 24,665,219 shares as of 03/31/2009, an increase of 27.06% from the previous quarter. Brian Rogers owns 7,000,000 shares as of 03/31/2009, which accounts for 0.49% of the $11.33 billion portfolio of T Rowe Price Equity Income Fund. Charles Brandes owns 10,367,287 shares as of 03/31/2009, which accounts for 0.51% of the $16.16 billion portfolio of Brandes Investment. Irving Kahn owns 19,188 shares as of 03/31/2009, a decrease of 36.26% of from the previous quarter. David Dreman owns 54,434 shares as of 03/31/2009, a decrease of 97.08% of from the previous quarter.
Buy: Vice Chair Peter D. Hancock bought 7,000 shares of KEY stock on 02/11/2009 at the average price of $6.95; the price of the stock has decreased by 21.87% since.
Baxter International Inc. (BAX): Down 13% Since Jean-Marie Eveillard Bought In the Quarter Ended on 2009-03-31
Jean-Marie Eveillard initiated holdings in Medical Supplies company Baxter International Inc. during the quarter ended 03/31/2009. He owned 79,400 shares of as of 03/31/2009. Baxter engages in the worldwide development manufacture and distribution of a diversified line of products systems and services used primarily in the health-care field. The company's products are used by hospitals clinical and medical research laboratories blood and dialysis centers rehabilitation centers nursing homes doctors' offices and by patients at home under physician supervision. Baxter International Inc. has a market cap of $28.93 billion; its shares were traded at around $47.56 with a P/E ratio of 13.8 and P/S ratio of 2.3. The dividend yield of Baxter International Inc. stocks is 2.2%. Baxter International Inc. had an annual average earning growth of 4.8% over the past 10 years. GuruFocus rated Baxter International Inc. the business predictability rank of 4-star.
Baxter recently reported its results for the first quarter of 2009. The company said that it posted strong results of $0.83 per diluted share. The company also said that it would provides updated full-year outlook. “Despite the challenging, global macro-economic environment, our first quarter financial results underscore the value of our diversified healthcare model, the solid fundamentals underpinning our portfolio, and our disciplined focus on driving margin improvement,” said Robert L. Parkinson, Jr., chairman and chief executive officer. “We continue to believe that we are very well-positioned given our broad geographic reach and the medically-necessary nature of our portfolio to expand access to care, improve treatments and enhance the quality of life for patients around the world.”
Jean-Marie Eveillard bought 79,400 shares in the quarter that ended on 03/31/2009, which is 0.06% of the $7.39 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC. Dodge & Cox owns 7,428 shares as of 03/31/2009, a decrease of 21.21% of from the previous quarter. This position accounts for less than 0.01% of the $54.08 billion portfolio of Dodge & Cox. Ken Heebner owns 4,027,700 shares as of 03/31/2009, a decrease of 34.91% of from the previous quarter. This position accounts for 3.82% of the $5.4 billion portfolio of CAPITAL GROWTH MANAGEMENT LP. Lee Ainslie sold out his holdings in the quarter that ended on 03/31/2009.
Sell: Director Thomas T Stallkamp sold 10,590 shares of BAX stock on 02/12/2009 at the average price of $58.52; the price of the stock has decreased by 18.73% since.
TIME WARNER CABLE INC (TWC): Down 21% Since Kenneth Fisher Bought In the Quarter Ended on 2009-03-31
Kenneth Fisher initiated holdings in Medical Supplies company TIME WARNER CABLE INC during the quarter ended 03/31/2009. He owned 1,532,907 shares of as of 03/31/2009. Time Warner Cable Inc. is the second-largest cable operator in the U.S. and an industry leader in developing and launching innovative video data and voice services. They deliver their services to customers over technologically-advanced well-clustered cable systems that pass approximately 26 million homes. TIME WARNER CABLE INC has a market cap of $10.42 billion; its shares were traded at around $32 with a P/E ratio of 8.6 and P/S ratio of 0.6.
Time Warner Cable recently reported its first quarter 2009 results. The company announced that its revenue increased 5% year over year to $4.4 billion. Revenue was $4.2 billion a year ago in the same period. Time Warner Cable Chief Executive Officer Glenn Britt said: “Time Warner Cable performed well in the first quarter, growing revenues, adjusted OIBDA and free cash flow from last year. We added very healthy numbers of new subscribers to our video, high-speed data and phone services, and our commercial services business continued to grow rapidly. We’re excited to be an independent company. Cable is a very good business, and our operations are strong and growing despite a challenging economy. We continue to generate very healthy free cash flow which will enable us to reduce debt over the next year.”
Many gurus have been initiating their positions in Time Warner Cable, including Dodge and Cox, Brian Rogers, Lee Ainslie, Kenneth Fisher, Richard Pzena, and Jean-Marie Eveillard. George Soros sold out his holdings in the quarter that ended on 03/31/2009. John Paulson sold out his holdings in the quarter that ended on 03/31/2009.
Sell: EVP & President, TWC Ventures Carl Uj Rossetti sold 183 shares of TWC stock on 06/02/2009 at the average price of $31.13; the price of the stock has increased by 2.79% since.
Fairfax Financial Holdings Ltd. (FFH): Down 11% Since Mason Hawkins Bought In the Quarter Ended on 2009-03-31
Mason Hawkins added to his holdings in Property & Casualty Insurance company Fairfax Financial Holdings Ltd. by 5.95% during the quarter ended 03/31/2009. He owned 3,087,128 shares of as of 03/31/2009. Fairfax Financial Holdings Limited is a financial services holding company which through its subsidiaries is engaged in property casualty and life insurance and reinsurance investment management and insurance claims management. The company is owned by Prem Watsa, who is one of our GuruFocus gurus. Fairfax Financial Holdings Ltd. has a market cap of $4.24 billion; its shares were traded at around $251.66 with a P/E ratio of 4.4 and P/S ratio of 0.6. The dividend yield of Fairfax Financial Holdings Ltd. stocks is 3.2%.
Fairfax recently reported its first quarter 2009 results. The company announced that it had a net loss in the first quarter of $3.55 per share, or $60.4 million, compared to a reported net earnings of $34.72 per share a year ago.
Chris Davis owns 2,664 shares as of 03/31/2009, an increase of 25.13% from the previous quarter. This position accounts for less than 0.01% of the $38.73 billion portfolio of Davis Selected Advisers. Mason Hawkins owns 3,087,128 shares as of 03/31/2009, which accounts for 4.76% of the $16.8 billion portfolio of Southeastern Asset Management. Tom Gayner owns 279,459 shares as of 03/31/2009, which accounts for 7.34% of the $991 million portfolio of Markel Gayner Asset Management Corp. Mohnish Pabrai owns 46,032 shares as of 03/31/2009, a decrease of 20.64% of from the previous quarter.
SLM Corp. (SLM): Down 13% Since David Dreman Bought In the Quarter Ended on 2009-03-31
David Dreman initiated holdings in Consumer Finance company SLM Corp. during the quarter ended 03/31/2009. He owned 39,370 shares of as of 03/31/2009. SLM Corporation is the one of nation's largest private sources of funding and servicing support for higher education loans for students and their parents. The company has a market cap of $3.09 billion; its shares were traded at around $6.61 with a P/E ratio of 9.7 and P/S ratio of 0.4. SLM Corp. had an annual average earning growth of 12.8% over the past 10 years.
SLM recently reported its first quarter 2009 results. The company announced that its first quarter net income was $14 million.
Steve Mandel bought 14,050,386 shares in the quarter that ended on 03/31/2009. David Dreman bought 39,370 shares in the quarter that ended on 03/31/2009. Irving Kahn owns 1,138,113 shares as of 03/31/2009, an increase of 10.84% from the previous quarter. This position accounts for 1.62% of the $347 million portfolio of Kahn Brothers & Company Inc.. Charles Brandes owns 442,233 shares as of 03/31/2009, a decrease of 96.1% of from the previous quarter. This position accounts for 0.01% of the $16.16 billion portfolio of Brandes Investment. PRIMECAP Management sold out his holdings in the quarter that ended on 03/31/2009. Donald Yacktman sold out his holdings in the quarter that ended on 03/31/2009.
Buy: Executive Vice President & CLO John J Hewes bought 15,000 shares of SLM stock on 01/30/2009 at the average price of $11.4; the price of the stock has decreased by 42.02% since.
KeyCorp (KEY): Down 25% Since HOTCHKIS & WILEY Bought In the Quarter Ended on 2009-03-31
HOTCHKIS & WILEY added to his holdings in Banks company KeyCorp by 27.06% during the quarter ended 03/31/2009. He owned 24,665,219 shares of as of 03/31/2009. KeyCorp is an integrated multi-line financial services company. Its subsidiaries provide a wide range of investment management retail and commercial banking consumer finance and investment banking products and services to corporate individual and institutional clients through four lines of business: Key Retail Banking Key Specialty Finance Key Corporate Capital and Key Capital Partners. KeyCorp has a market cap of $2.69 billion; its shares were traded at around $5.43 with and P/S ratio of 0.5. The dividend yield of KeyCorp stocks is 4.6%. KeyCorp had an annual average earning growth of 9.9% over the past 5 years.
KeyCorp recently reported its first quarter 2009 results. The company announced that its EPS was $1.09 per share. Net income was $218 million. “Our results reflect an extremely challenging operating environment and the expedient steps we continue to take to identify problem loans and to build Key’s loan loss reserves,” said Chief Executive Officer Henry L. Meyer III. “We believe building additional reserves is appropriate given the continued pressure on credit quality, as more businesses and consumers are affected by the persistent severity of the economic downturn.
HOTCHKIS & WILEY owns 24,665,219 shares as of 03/31/2009, an increase of 27.06% from the previous quarter. Brian Rogers owns 7,000,000 shares as of 03/31/2009, which accounts for 0.49% of the $11.33 billion portfolio of T Rowe Price Equity Income Fund. Charles Brandes owns 10,367,287 shares as of 03/31/2009, which accounts for 0.51% of the $16.16 billion portfolio of Brandes Investment. Irving Kahn owns 19,188 shares as of 03/31/2009, a decrease of 36.26% of from the previous quarter. David Dreman owns 54,434 shares as of 03/31/2009, a decrease of 97.08% of from the previous quarter.
Buy: Vice Chair Peter D. Hancock bought 7,000 shares of KEY stock on 02/11/2009 at the average price of $6.95; the price of the stock has decreased by 21.87% since.
Baxter International Inc. (BAX): Down 13% Since Jean-Marie Eveillard Bought In the Quarter Ended on 2009-03-31
Jean-Marie Eveillard initiated holdings in Medical Supplies company Baxter International Inc. during the quarter ended 03/31/2009. He owned 79,400 shares of as of 03/31/2009. Baxter engages in the worldwide development manufacture and distribution of a diversified line of products systems and services used primarily in the health-care field. The company's products are used by hospitals clinical and medical research laboratories blood and dialysis centers rehabilitation centers nursing homes doctors' offices and by patients at home under physician supervision. Baxter International Inc. has a market cap of $28.93 billion; its shares were traded at around $47.56 with a P/E ratio of 13.8 and P/S ratio of 2.3. The dividend yield of Baxter International Inc. stocks is 2.2%. Baxter International Inc. had an annual average earning growth of 4.8% over the past 10 years. GuruFocus rated Baxter International Inc. the business predictability rank of 4-star.
Baxter recently reported its results for the first quarter of 2009. The company said that it posted strong results of $0.83 per diluted share. The company also said that it would provides updated full-year outlook. “Despite the challenging, global macro-economic environment, our first quarter financial results underscore the value of our diversified healthcare model, the solid fundamentals underpinning our portfolio, and our disciplined focus on driving margin improvement,” said Robert L. Parkinson, Jr., chairman and chief executive officer. “We continue to believe that we are very well-positioned given our broad geographic reach and the medically-necessary nature of our portfolio to expand access to care, improve treatments and enhance the quality of life for patients around the world.”
Jean-Marie Eveillard bought 79,400 shares in the quarter that ended on 03/31/2009, which is 0.06% of the $7.39 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC. Dodge & Cox owns 7,428 shares as of 03/31/2009, a decrease of 21.21% of from the previous quarter. This position accounts for less than 0.01% of the $54.08 billion portfolio of Dodge & Cox. Ken Heebner owns 4,027,700 shares as of 03/31/2009, a decrease of 34.91% of from the previous quarter. This position accounts for 3.82% of the $5.4 billion portfolio of CAPITAL GROWTH MANAGEMENT LP. Lee Ainslie sold out his holdings in the quarter that ended on 03/31/2009.
Sell: Director Thomas T Stallkamp sold 10,590 shares of BAX stock on 02/12/2009 at the average price of $58.52; the price of the stock has decreased by 18.73% since.
TIME WARNER CABLE INC (TWC): Down 21% Since Kenneth Fisher Bought In the Quarter Ended on 2009-03-31
Kenneth Fisher initiated holdings in Medical Supplies company TIME WARNER CABLE INC during the quarter ended 03/31/2009. He owned 1,532,907 shares of as of 03/31/2009. Time Warner Cable Inc. is the second-largest cable operator in the U.S. and an industry leader in developing and launching innovative video data and voice services. They deliver their services to customers over technologically-advanced well-clustered cable systems that pass approximately 26 million homes. TIME WARNER CABLE INC has a market cap of $10.42 billion; its shares were traded at around $32 with a P/E ratio of 8.6 and P/S ratio of 0.6.
Time Warner Cable recently reported its first quarter 2009 results. The company announced that its revenue increased 5% year over year to $4.4 billion. Revenue was $4.2 billion a year ago in the same period. Time Warner Cable Chief Executive Officer Glenn Britt said: “Time Warner Cable performed well in the first quarter, growing revenues, adjusted OIBDA and free cash flow from last year. We added very healthy numbers of new subscribers to our video, high-speed data and phone services, and our commercial services business continued to grow rapidly. We’re excited to be an independent company. Cable is a very good business, and our operations are strong and growing despite a challenging economy. We continue to generate very healthy free cash flow which will enable us to reduce debt over the next year.”
Many gurus have been initiating their positions in Time Warner Cable, including Dodge and Cox, Brian Rogers, Lee Ainslie, Kenneth Fisher, Richard Pzena, and Jean-Marie Eveillard. George Soros sold out his holdings in the quarter that ended on 03/31/2009. John Paulson sold out his holdings in the quarter that ended on 03/31/2009.
Sell: EVP & President, TWC Ventures Carl Uj Rossetti sold 183 shares of TWC stock on 06/02/2009 at the average price of $31.13; the price of the stock has increased by 2.79% since.
Fairfax Financial Holdings Ltd. (FFH): Down 11% Since Mason Hawkins Bought In the Quarter Ended on 2009-03-31
Mason Hawkins added to his holdings in Property & Casualty Insurance company Fairfax Financial Holdings Ltd. by 5.95% during the quarter ended 03/31/2009. He owned 3,087,128 shares of as of 03/31/2009. Fairfax Financial Holdings Limited is a financial services holding company which through its subsidiaries is engaged in property casualty and life insurance and reinsurance investment management and insurance claims management. The company is owned by Prem Watsa, who is one of our GuruFocus gurus. Fairfax Financial Holdings Ltd. has a market cap of $4.24 billion; its shares were traded at around $251.66 with a P/E ratio of 4.4 and P/S ratio of 0.6. The dividend yield of Fairfax Financial Holdings Ltd. stocks is 3.2%.
Fairfax recently reported its first quarter 2009 results. The company announced that it had a net loss in the first quarter of $3.55 per share, or $60.4 million, compared to a reported net earnings of $34.72 per share a year ago.
Chris Davis owns 2,664 shares as of 03/31/2009, an increase of 25.13% from the previous quarter. This position accounts for less than 0.01% of the $38.73 billion portfolio of Davis Selected Advisers. Mason Hawkins owns 3,087,128 shares as of 03/31/2009, which accounts for 4.76% of the $16.8 billion portfolio of Southeastern Asset Management. Tom Gayner owns 279,459 shares as of 03/31/2009, which accounts for 7.34% of the $991 million portfolio of Markel Gayner Asset Management Corp. Mohnish Pabrai owns 46,032 shares as of 03/31/2009, a decrease of 20.64% of from the previous quarter.
SLM Corp. (SLM): Down 13% Since David Dreman Bought In the Quarter Ended on 2009-03-31
David Dreman initiated holdings in Consumer Finance company SLM Corp. during the quarter ended 03/31/2009. He owned 39,370 shares of as of 03/31/2009. SLM Corporation is the one of nation's largest private sources of funding and servicing support for higher education loans for students and their parents. The company has a market cap of $3.09 billion; its shares were traded at around $6.61 with a P/E ratio of 9.7 and P/S ratio of 0.4. SLM Corp. had an annual average earning growth of 12.8% over the past 10 years.
SLM recently reported its first quarter 2009 results. The company announced that its first quarter net income was $14 million.
Steve Mandel bought 14,050,386 shares in the quarter that ended on 03/31/2009. David Dreman bought 39,370 shares in the quarter that ended on 03/31/2009. Irving Kahn owns 1,138,113 shares as of 03/31/2009, an increase of 10.84% from the previous quarter. This position accounts for 1.62% of the $347 million portfolio of Kahn Brothers & Company Inc.. Charles Brandes owns 442,233 shares as of 03/31/2009, a decrease of 96.1% of from the previous quarter. This position accounts for 0.01% of the $16.16 billion portfolio of Brandes Investment. PRIMECAP Management sold out his holdings in the quarter that ended on 03/31/2009. Donald Yacktman sold out his holdings in the quarter that ended on 03/31/2009.
Buy: Executive Vice President & CLO John J Hewes bought 15,000 shares of SLM stock on 01/30/2009 at the average price of $11.4; the price of the stock has decreased by 42.02% since.
