John Rogers

Last Update: 04-10-2017

Number of Stocks: 191
Number of New Stocks: 14

Total Value: $8,471 Mil
Q/Q Turnover: 5%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

John Rogers' s Profile & Performance

Profile

John Rogers is the Founder of Ariel Investment, LLC, which he started in 1983. As of 2008, the firm had over $15.5 billion in assets under management. John manages Ariel's small and mid-cap institutional portfolios as well as the Ariel Fund (ARGFX) and Ariel Appreciation Fund (CAAPX). He is also a long-term Forbes columnist writing a column called "Patient Investor."

Web Page:http://www.arielmutualfunds.com/

Investing Philosophy

Rogers has concentrated his investment selection on small and medium-sized companies whose share prices are undervalued. He believes that patience, independent thinking, and a long-term outlook are essential to achieving good returns. His fund seeks to purchase companies whose prospects include high barriers to entry, sustainable competitive advantages, and predictable fundamentals that allow for double digit cash earnings growth. Rogers purchases companies when they are trading at a low valuation relative to potential earnings (p/e less than 13x forward cash earnings) and/or a low valuation relative to intrinsic worth (40% discount to private market value - PMV).

Total Holding History

Performance of Ariel Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201615.5611.963.6
2015-4.11.38-5.5
201410.9513.69-2.7
3-Year Cumulative23 (7.1%/year)29 (8.9%/year)-6 (-1.8%/year)
201344.6832.3912.3
201220.32164.3
5-Year Cumulative114 (16.4%/year)98.2 (14.7%/year)15.8 (1.7%/year)
2011-11.342.11-13.5
201025.9715.0610.9
200963.4226.4637.0
2008-48.25-37-11.2
2007-1.75.49-7.2
10-Year Cumulative98.7 (7.1%/year)95.7 (6.9%/year)3 (0.2%/year)
200610.3515.79-5.4
20050.924.91-4.0
200421.9710.8811.1
200328.0428.68-0.6
2002-5.18-22.116.9
15-Year Cumulative227.7 (8.2%/year)164.2 (6.7%/year)63.5 (1.5%/year)
200114.21-11.8926.1
200028.77-9.137.9
1999-5.7621.04-26.8
19989.8928.58-18.7
199736.4433.363.1
20-Year Cumulative581 (10.1%/year)339.2 (7.7%/year)241.8 (2.4%/year)
199623.5122.960.6
199518.5237.58-19.1
1994-4.221.32-5.5
19938.7310.08-1.4
199211.737.624.1
25-Year Cumulative1060 (10.3%/year)791.8 (9.1%/year)268.2 (1.2%/year)
199132.7230.472.3
1990-16.08-3.1-13.0
198925.1131.69-6.6
198839.9216.6123.3
198711.45.16.3
30-Year Cumulative2419.5 (11.4%/year)1719.7 (10.2%/year)699.8 (1.2%/year)

Top Ranked Articles

6 Companies That Offer Strong Value Potential for 2nd-Quarter 2017 A deeper look at the value screeners and FZM scores
As discussed in previous articles, the GuruFocus value screeners can identify strong value opportunities for short-term and long-term investing. The following six companies made multiple value screeners as of Mar. 29: Wipro Ltd. (NYSE:WIT), The Cheesecake Factory Inc. (NASDAQ:CAKE), Casey’s General Stores Inc. (NASDAQ:CASY), Anika Therapeutics Inc. (NASDAQ:ANIK), F5 Networks Inc. (NASDAQ:FFIV) and Copart Inc. (NASDAQ:CPRT). These six companies offer strong value potential for second-quarter 2017. Read more...
John Rogers Comments on Thermo Fisher Scientific Inc. Guru stock highlight
Also, scientific research supplier Thermo Fisher Scientific Inc. (NYSE:TMO) dropped –11.20% despite an earnings beat. The company reported earnings per share of $2.03 in late October, well ahead of the $1.97 consensus estimate; it also closed its acquisition of electron microscope maker FEI Company. Health care stocks were generally weak in November and December as investors rotated away from defensive stocks toward more aggressive ones. In our view, the company remains on the right track. Read more...
Ariel Funds Comments on Johnson & Johnson Guru stock highlight
Medical giant Johnson & Johnson (NYSE:JNJ) rallied +12.66%, due to a strong earnings report. In April the company beat analysts’ estimates and also raised guidance for the year. Earnings were driven by strong sales of drugs like Stelara and Xarelto. At this point pharmaceuticals are the company’s largest business division—ahead of powerhouses such as medical devices and consumer health products. We think the trajectory of the business continues to point upward. Read more...
Ariel Funds Comments on GlaxoSmithKline plc Guru stock highlight
In addition, GlaxoSmithKline plc (NYSE:GSK) rallied +7.74%1 in the second quarter, after reporting profit growth for the first time since 2013. Glaxo is seeing benefits from its purchase of Novartis’ vaccines unit. Demand for vaccines and new drugs helped offset declines in the sales of blockbuster asthma medication Advair. Read more...
John Rogers Comments on Bristow Group Inc. Guru stock highlight
Some holdings in the portfolio advanced considerably. Helicopter transportation company Bristow Group Inc. (NYSE:BRS) ascended +46.83% after recently secured financing put Wall Street at ease. The Street had worried the company would become financially distressed like a top competitor given the oil industry’s woes. Instead, Bristow arranged $300 million in debt, secured by a portion of its own helicopter fleet. In addition, oil rose during the year and the quarter, giving the stock a mild boost as well. We think its shares are undervalued given the company’s significant assets and depressed earnings. Read more...
» More John Rogers Articles

Commentaries and Stories

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John Rogers Comments on Dun & Bradstreet Corp Guru stock highlight
Also, corporate credit expert Dun & Bradstreet Corp. (NYSE:DNB) fell –10.62% after issuing disappointing guidance. During a mixed quarterly earnings report, the firm guided toward 1% to 3% revenue growth for 2017; Wall Street had long expected 5% growth this year. A key reason for the disappointment is the restructuring of the firm’s relationship with Salesforce.com, which will likely crimp near term growth. While recent growth has been slower than management or its investors would prefer, we think Dun & Bradstreet is well-positioned for the long term. More...

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John Rogers Comments on Bristow Group Guru stock highlight
Other holdings in the portfolio underperformed. Helicopter transport company supplier Bristow Group Inc. (NYSE:BRS) declined –25.41% in tandem with sinking oil prices. That said, the company actually surpassed the Street’s gloomy expectations, losing $0.28 per share rather than $0.48. The stock rose on that news, but declined over the course of the quarter as oil fell from the $55 range to below $ 50. As we have said before, the commodity’s price will rise and fall, yet oil is necessary to the world; therefore we firmly believe companies will continue to need Bristow’s services. More...

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John Rogers Comments on Kennametal Guru stock highlight
In addition, cutting tools maker Kennametal Inc. (NYSE:KMT) surged +26.15% on solid guidance and the assumption it could benefit from a new U.S. trade policy. During the quarter, the company announced revenues would improve this year, allowing it to pare back cost-cutting. Meanwhile, Wall Street and some prominent hedge funds became more bullish on Kennametal because its overseas competitors, Iscar and Sandvik, would be hurt if U.S. trade policy became more protectionist. We admire the firm not for short- term tailwinds but for its strong positioning in a small but crucial niche business. More...

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John Rogers Comments on Viacom Guru stock highlight
Some stocks in the portfolio performed quite well. Media company Viacom, Inc. (NASDAQ:VIAB) leapt +33.44% as new CEO Bob Bakish began to implement his vision. In early February, as the company announced earnings per share of $1.04 versus the $ 0.83 consensus, Bakish introduced his five-point strategy. We especially like his decision to emphasize six flagship brands: BET, Comedy Central, MTV, Nickelodeon, Nick Jr., and Paramount. A week later he underscored this point when he asked the CEO of underperforming Paramount to step down. We think focusing on what matters most is smart—and especially important at a complex, intricate organization such as Viacom. More...

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John Rogers' Ariel Fund First Quarter 2017 Commentary Analysis of holdings and markets John Rogers - John Rogers' Ariel Fund First Quarter 2017 Commentary
It was a strong first quarter for equities. Foreign stocks led the way with a +7.25% gain, with large-cap U.S. stocks rising +6.07% and small-caps advancing +2.47%. The ebullience beginning with the November presidential election continued for the first two months of 2017. In March, however, international stocks kept charging while U.S. stocks went flat. And so, this quarter, both foreign and U.S. shares appear to have hit low-key inflection points. Just three months ago we wrote about the international bear market, which started in 2014. That downturn may well have ended; the MSCI EAFE Index is now up roughly +10% since mid-November. For domestic stocks, we think the plateau in March was most likely a measured response to the Federal Reserve’s quarter-point rate hike mid-month. To date, nobody knows whether the sideways move was a pause or a lasting deceleration. This quarter, Ariel Fund gained +6.56%, trouncing the Russell 2500 Value Index’s +1.62% move as well as the +3.76% rise of the Russell 2500 Index. More...

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John Rogers' Ariel Fund March Commentary An analysis of the happenings of the month John Rogers - John Rogers' Ariel Fund March Commentary
As you know, Ariel Investments focuses on small-caps, mid-caps, large-caps as well as international stocks. The indexes above represent these broad investment universes. More...

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Barrick Gold Risks Suspension of Operations at Argentine Mine Veladero's full suspension may influence Canadian miner's production Joel Greenblatt,John Rogers,First Eagle Investment - Barrick Gold Risks Suspension Of Operations At Argentine Mine
Argentina's environmental ministry asked for Barrick Gold’s (NYSE:ABX) temporary cessation of all operations at the Veladero mine, Reuters.com reported April 7, because of the breakage of a pipe carrying the cyanide solution that is spread over the heap’s surface to leach the precious metal on March 28. More...

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Robert Olstein's Largest Sales of 4th Quarter Most weighted sales in the guru's portfolio Robert Olstein,John Rogers,John Paulson,Mario Gabe - Robert Olstein's Largest Sales Of 4th Quarter
Robert Olstein (Trades, Portfolio) is the chairman and chief investment officer of the Olstein Financial Alert Fund. He is considered to be an expert in corporate financial disclosure and reporting practices. During the fourth quarter, the firm sold shares in the following stocks: More...

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6 Companies That Offer Strong Value Potential for 2nd-Quarter 2017 A deeper look at the value screeners and FZM scores John Rogers, Chuck Royce - 6 Companies That Offer Strong Value Potential For 2nd-Quarter 2017
As discussed in previous articles, the GuruFocus value screeners can identify strong value opportunities for short-term and long-term investing. The following six companies made multiple value screeners as of Mar. 29: Wipro Ltd. (NYSE:WIT), The Cheesecake Factory Inc. (NASDAQ:CAKE), Casey’s General Stores Inc. (NASDAQ:CASY), Anika Therapeutics Inc. (NASDAQ:ANIK), F5 Networks Inc. (NASDAQ:FFIV) and Copart Inc. (NASDAQ:CPRT). These six companies offer strong value potential for second-quarter 2017. More...

JOHN ROGERS, CHUCK ROYCE


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Ariel Funds: Bank Stocks Are Overvalued Banks are coming back down to earth, vice president of John Rogers' firm says John Rogers - Ariel Funds: Bank Stocks Are Overvalued
Vice Chairman of John Rogers (Trades, Portfolio)' Ariel Investments, Charles Bobrinskoy, commented on the pullback in the market this week, saying bank stocks were very cheap in June, got to fair value the day after election, ran to overvalued and now are coming back to earth. He also believes regional bank stocks are too expensive. More...

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John Rogers' Ariel Fund February Commentary A review of the month John Rogers - John Rogers' Ariel Fund February Commentary
Warren Buffett (Trades, Portfolio) often says, “Be greedy when others are fearful; be fearful when others are greedy.” While we do not think it is time for fear, it is certainly reasonable to be skeptical. We are not counseling pessimism but rather an intellectual caution leaning against groupthink and wide-eyed optimism—since there are some signs of market euphoria. More...

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Brink's Insider Reduces Position in Company Director sells 900,000 shares Mario Gabelli, John Rogers, Jim Simons, Joel green - Brink's Insider Reduces Position In Company
Peter Feld, a director of The Brink’s Co. (NYSE:BCO), sold 900,000 shares in 40 transactions between March 3 and March 7, according to SEC filings. They were sold for an average price of $52.39 per share. More...

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Insiders Invest in Edgewater Technology Directors purchase a combined 85,000 shares John Rogers, Mario Gabelli - Insiders Invest In Edgewater Technology
Edgewater Technology Inc. (NASDAQ:EDGW) directors purchased a combined 85,000 shares on March 3. More...

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8 Stocks With Strong Yields but Falling Prices Companies that pay shareholders, but prices have performed poorly Jim Simons,John Rogers,Mario Gabelli,Chuck Royce - 8 Stocks With Strong Yields But Falling Prices
According to the GuruFocus All-in-One Screener, the following stocks have high dividend yields but performed poorly over the past 12 months. More...

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John Rogers' Ariel Fund January Commentary What happened in the month John Rogers - John Rogers' Ariel Fund January Commentary
In January, our monthly commentary typically focuses on the prior year’s asset flows, since they often a reveal a lot about investor sentiment. As we have noted before, asset flows have followed a different pattern in the wake of the great financial crisis. Specifically, bonds tended to receive inflows, domestic equity saw outflows, and passive management began dominating active management—mainly but not only in equities. More subtly, a long-standing preference for funds with strong short-term performance became even more pronounced. More...

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8 High-Yield Stocks With a Negative 1-Year Performance United-Guardian declined 23.1% Chuck Royce, John Rogers, Jim Simons, Mario Gabell - 8 High-Yield Stocks With A Negative 1-Year Performance
According to the GuruFocus All-in-One Screener, the following stocks have high dividend yields but performed poorly over the past 12 months. More...

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John Rogers Comments on JLL Guru stock highlight
Also, real estate company JLL (NYSE:JLL) declined –10.89% on disappointing earnings. In early November the company reported quarterly earnings of $1.42, significantly below consensus of $2.00. Revenues were strong, but the impact of an acquisition, higher technology spending, a decline in incentive fees, and a significant write-down of receivables all hurt the bottom line. We think the quarter featured a rare confluence of one-time factors. To our minds, the long-term value of one of the top two global real estate players remains stable. More...

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John Rogers Comments on Charles River Laboratories Intl Guru stock highlight
Other holdings underperformed. Scientific research firm Charles River Laboratories Intl, Inc. (NYSE:CRL) slid –8.58% due to contracting customer spending and a general downturn in health care stocks. Like other similar firms, Charles River expanded over the last 15 years to be able to handle peak medical research, but as drug companies scaled back, there was clearly overcapacity. The company’s drug discovery business is still a bit slack. That said, many health care stocks slid this quarter during a huge rotation to financials. We think the current issues are largely cyclical but the secular push toward solving medical problems through pharmaceuticals remains intact—a long-term tailwind for Charles River. More...

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John Rogers Comments on Keysight Technologies Guru stock highlight
In the last quarter of the year, we added one new position in Ariel Appreciation Fund We purchased Keysight Technologies, Inc. (NYSE:KEYS), a leading test and measurement business for electronics. The company’s long history dates back to its formation as the measurement business of Hewlett-Packard (NYSE:HPE), which has resulted in deeply rooted relationships, leading market share, and a seat at the table during the development of new technologies. Recently spun-off from Agilent Technologies, Inc. (NYSE:A), investors are discarding the shares due to a perceived lack of near-term growth prospects. We see this as an attractive long-term opportunity to own a niche market leader with excellent free cash flow generation. We think it is well-positioned to benefit from several longer-term tailwinds, including 5G wireless testing and growing demand for modular solutions, software-based testing and More...

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John Rogers Comments on Thermo Fisher Scientific Inc. Guru stock highlight
Also, scientific research supplier Thermo Fisher Scientific Inc. (NYSE:TMO) dropped –11.20% despite an earnings beat. The company reported earnings per share of $2.03 in late October, well ahead of the $1.97 consensus estimate; it also closed its acquisition of electron microscope maker FEI Company. Health care stocks were generally weak in November and December as investors rotated away from defensive stocks toward more aggressive ones. In our view, the company remains on the right track. More...

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