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Tiziano Frateschi
Tiziano Frateschi
Articles (2561)  | Author's Website |

The Parnassus Endeavor Fund Cuts Cisco, FedEx

Fund's largest sales of the 2nd quarter

The Parnassus Endeavor Fund (Trades, Portfolio), which manages a $2.57 billion portfolio composed of 26 stocks, sold shares of the following stocks during the second quarter of 2020.

International Business Machines

The fund cut its position in International Business Machines Corp. (IBM) by 78.75%. The trade had an impact of -2.72% on the portfolio.

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The company, which covers a wide range of information technology solutions, has a market cap of $112.20 billion and an enterprise value of $169.92 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 52.56% and return on assets of 6.63% are outperforming 68% of companies in the software industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.13 is below the industry median of 2.24.

The largest guru shareholder of the company is Pioneer Investments (Trades, Portfolio) with 0.18% of outstanding shares, followed by Joel Greenblatt (Trades, Portfolio)’s Gotham Asset Management with 0.02%.

Cisco

The fund reduced its Cisco Systems Inc. (CSCO) stake by 40.48%. The portfolio was impacted by -2.60%.

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The software, hardware and networking solutions provider has a market cap of $198.32 billion and an enterprise value of $185.83 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 30.63% and return on assets of 11.49% are outperforming 96% of companies in the hardware industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 1.78 is above the industry median of 1.34.

The largest guru shareholder of the company is Dodge & Cox with 0.75% of outstanding shares, followed by Ken Fisher (Trades, Portfolio) with 0.49% and PRIMECAP Management (Trades, Portfolio) with 0.26%.

VF

The fund's VF Corp.’s (VFC) position was trimmed by 63.16%. The portfolio was impacted by -2.53%.

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The producer and seller of apparel and accessories has a market cap of $22.57 billion and an enterprise value of $26.41 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 16.16% and return on assets of 6.29% are outperforming 81% of companies in the manufacturing, apparel and accessories industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.26 is below the industry median of 0.4.

Some notable gurus shareholders are Pioneer Investments (Trades, Portfolio) with 0.38% of outstanding shares, Diamond Hill Capital (Trades, Portfolio) with 0.30% and the Parnassus Endeavor Fund (Trades, Portfolio) with 0.18%.

Cummins

The fund reduced its position in Cummins Inc. (CMI) by 56%, impacting the portfolio by -2.21%.

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The manufacturer of diesel engines has a market cap of $26.6 billion and an enterprise value of $29.35 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 27.39% and return on assets of 10.51% are outperforming 92% of companies in the industrial products industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.53 is below the industry median of 0.92 .

Some notable gurus shareholders are HOTCHKIS & WILEY with 2.12% of outstanding shares, First Eagle Investment (Trades, Portfolio) with 1.49% and Bill Nygren (Trades, Portfolio)’s Oakmark Fund with 1%.

Perrigo

The investment fund exited its holding in Perrigo Co. PLC (PRGO). The trade had an impact of -2.17% on the portfolio.

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The generic drugs provider has a market cap of $7.87 billion and an enterprise value of $10.88 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 2.55% and return on assets of 1.3% are underperforming 51% of companies in the drug manufacturers industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.11 is below the industry median of 0.87.

Some notable gurus shareholders are Diamond Hill Capital (Trades, Portfolio) with 0.94% of outstanding shares, Steven Cohen (Trades, Portfolio)’s Point72 Asset Management with 0.29% and Pioneer Investments (Trades, Portfolio) with 0.15%.

FedEx

The investment fund cut its holding in FedEx Corp. (FDX) by 37.5%. The trade had an impact of -2.12% on the portfolio.

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The worldwide courier has a market cap of $42.88 billion and an enterprise value of $74.12 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. While the return on equity of 7% is outperforming the sector, return on assets of 1.91% is underperforming 57% of companies in the transportation industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.14 is below the industry median of 0.27 .

Some notable gurus shareholders are Dodge & Cox with 10.31% of outstanding shares, PRIMECAP Management (Trades, Portfolio) with 5.26% and Bill Gates (Trades, Portfolio) with 1.16%.

Gilead

The investment fund closed its holding in Gilead Sciences Inc. (GILD). The trade had an impact of -2.04% on the portfolio.

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The company has a market cap of $97.94 billion and an enterprise value of $101 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 22.6% and return on assets of 8.09% are outperforming 78% of companies in the drug manufacturers industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.86 is below the industry median of 0.87.

Other notable shareholders include Dodge & Cox with 1.20% of outstanding shares and Jim Simons (Trades, Portfolio)’ Renaissance Technologies with 1%.

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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