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Tiziano Frateschi
Tiziano Frateschi
Articles (2469)  | Author's Website |

Third Point Exits Campbell Soup, Trims Baxter International

Firm's largest sales of the 1st quarter

Daniel Loeb (Trades, Portfolio)’s Third Point LLC sold shares of the following stocks during the first quarter of 2020.

Campbell Soup

The firm exited its Campbell Soup Co. (NYSE:CPB) position. The trade had an impact of -8.18% on the portfolio.

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The supplier of well-known soup and other convenience food, has a market cap of $15.73 billion and an enterprise value of $21.49 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 98.87% and return on assets of 11.03% are outperforming 88% of companies in the consumer packaged goods industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.01 is below the industry median of 0.4.

Jim Simons (Trades, Portfolio)’ Renaissance Technologies is the largest guru shareholder of the company with 0.62% of outstanding shares. Other notable shareholders include Pioneer Investments (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio).

Baxter International

Loeb's firm trimmed the Baxter International Inc. (NYSE:BAX) position by 33.83%. The portfolio was impacted by -5.69%.

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The medical products manufacturer has a market cap of $44.32 billion and an enterprise value of $47.26 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 13.2% and return on assets of 5.77% are outperforming 80% of companies in the medical devices and instruments industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.59 is below the industry median of 1.55.

The largest guru shareholder of the company is Third Point with 2.28% of outstanding shares, followed by Al Gore (Trades, Portfolio) with 2% and Vanguard Health Care Fund (Trades, Portfolio) with 0.99%.

Boston Scientific

The firm closed out of its Boston Scientific Corp. (NYSE:BSX) holding. The portfolio was impacted by -2.6%.

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The producer of medical devices has a market cap of $51.08 billion and an enterprise value of 61.31 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 38.25% and return on assets of 15.81% are outperforming 93% of companies in the medical devices and instruments industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.04 is below the industry median of 1.55.

PRIMECAP Management (Trades, Portfolio) is the largest guru shareholder of the company with 3.02% of outstanding shares. Other notable shareholders include the Vanguard Health Care Fund (Trades, Portfolio) with 2.31% and Andreas Halvorsen (Trades, Portfolio) with 2.27%.

Fox

The firm closed its position in Fox Corp. (NASDAQ:FOXA), impacting the portfolio by -2.13%.

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The international broadcaster of TV shows and movies has a market cap of $16.17 billion and an enterprise value of $20.31 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 13.49% and return on assets of 6.76% are outperforming 80% of companies in the media industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.44 is below the industry median of 0.92.

The largest guru shareholder of the company is Dodge & Cox with 4.94% of outstanding shares, followed by Seth Klarman (Trades, Portfolio) with 4.53% and Simons’ firm with 1.75%.

Raytheon 

The investment firm reduced its position in Raytheon Technologies Corp. (NYSE:RTX) by 23.8%. The trade had an impact of -2.08% on the portfolio.

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The diversified aerospace industrial company has a market cap of $86.23 billion and an enterprise value of $129 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 10.16% and return on assets of 2.96% are underperforming 53% of companies in the aerospace and defense industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.17 is below the industry median of 0.52.

The largest guru shareholder of the company is Dodge & Cox with 1.26% of outstanding shares, followed by Chris Davis (Trades, Portfolio) with 0.58% and Ken Fisher (Trades, Portfolio) with 0.32%.

Five Below

Loeb's firm exited its position in Five Below Inc. (NASDAQ:FIVE). The trade had an impact of -1.76% on the portfolio.

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The value-oriented retailer has a market cap of $5.29 billion and an enterprise value of $5.98 billion.

GuruFocus gives the company a profitability and growth rating of 10 out of 10. The return on equity of 25.04% and return on assets of 11.18% are outperforming 90% of other companies in the retail, cyclical industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.15 is below the industry median of 0.44.

The largest guru shareholder of the company is Steven Cohen (Trades, Portfolio) with 0.56% of outstanding shares, followed by Simons’ firm with 0.23% and PRIMECAP Management with 0.02%.

Disclosure: I do not own any stocks mentioned.

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About the author:

Tiziano Frateschi
You can read about me on www.theextraincome.info, which gives suggestions on position trading.

Visit Tiziano Frateschi's Website


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