Coho Partners, Ltd. recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Coho Partners, Ltd. is an investment management firm based out of Berwyn, Pennsylvania. The company was originally established in 1999 by Peter A. Thompson, who is still with the company today acting as its CIO and Treasurer, and has grown from its inception to now operate with 10 employees of which half are investment professionals. Coho Partners conducts its research internally, utilizing a fundamental and quantitative methodology to make its investment decisions. The company invests in the public equity markets within the United States, allocating its assets across a wide range of sectors and benchmarking its performances against the S&P 500 and Russell 1000 indexes. Coho Partners invests most heavily in the health care sector, which alone makes up over a quarter of its total asset allocations, and also invests in the consumer staples, which makes up another fifth of its allocations, industrials, finance, consumer discretionary, energy, and information technology sectors, among other sectors to a lesser degree, in order of decreasing allocation. The company holds its allocations for over 20 quarters on average although Coho Partners only holds its top 10 allocations, which makes up over two fifth of its total allocations, for 3.8 quarters on average. In the most recent quarter, Coho Partners had a turnover rate of approximately 7%. Coho Partners manages over $2.5 billion in total assets under management spread across 160 accounts, all of which are discretionary accounts. Both of the firm’s total number of accounts and total assets have been increasing in recent years, although its total number of accounts has drastically dropped in the recent quarter from a previous high of 683 accounts, with its total assets under management growing significantly from under a quarter billion back in 2010 to over 10 times that amount today. Coho Partners currently offers its Relative Value Equity Fund.
As of the latest 13F report, the guru’s equity portfolio contained 74 stocks valued at a total of $5.90Bil. The top holdings were ROST(4.80%), CVS(4.57%), and LOW(4.54%).
According to GuruFocus data, these were Coho Partners, Ltd.’s top five trades of the quarter.
Automatic Data Processing Inc
Coho Partners, Ltd. reduced their investment in NAS:ADP by 581,721 shares. The trade had a 2.27% impact on the equity portfolio. During the quarter, the stock traded for an average price of $235.93.
On 01/11/2023, Automatic Data Processing Inc traded for a price of $245.05 per share and a market cap of $101.65Bil. The stock has returned 5.90% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Automatic Data Processing Inc has a price-earnings ratio of 33.89, a price-book ratio of 39.46, a price-earnings-to-growth (PEG) ratio of 3.26, a EV-to-Ebitda ratio of 22.49 and a price-sales ratio of 6.27.
The price-to-GF Value ratio is 1.05, earning the stock a GF Value rank of 5.
Nike Inc
The guru established a new position worth 1,424,640 shares in NYSE:NKE, giving the stock a 2.23% weight in the equity portfolio. Shares traded for an average price of $107.65 during the quarter.
On 01/11/2023, Nike Inc traded for a price of $127.94 per share and a market cap of $198.38Bil. The stock has returned -14.07% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Nike Inc has a price-earnings ratio of 36.04, a price-book ratio of 12.99, a price-earnings-to-growth (PEG) ratio of 4.24, a EV-to-Ebitda ratio of 26.89 and a price-sales ratio of 4.14.
The price-to-GF Value ratio is 0.86, earning the stock a GF Value rank of 7.
Stanley Black & Decker Inc
The guru sold out of their 963,564-share investment in NYSE:SWK. Previously, the stock had a 1.88% weight in the equity portfolio. Shares traded for an average price of $96.2 during the quarter.
On 01/11/2023, Stanley Black & Decker Inc traded for a price of $85.82 per share and a market cap of $12.70Bil. The stock has returned -53.32% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Stanley Black & Decker Inc has a price-earnings ratio of 9.41, a price-book ratio of 1.42, a price-earnings-to-growth (PEG) ratio of 20.67, a EV-to-Ebitda ratio of 16.70 and a price-sales ratio of 0.79.
The price-to-GF Value ratio is 0.40, earning the stock a GF Value rank of 4.
Mondelez International Inc
During the quarter, Coho Partners, Ltd. bought 1,012,523 shares of NAS:MDLZ for a total holding of 3,273,799. The trade had a 1.04% impact on the equity portfolio. During the quarter, the stock traded for an average price of $62.11.
On 01/11/2023, Mondelez International Inc traded for a price of $67.57 per share and a market cap of $92.27Bil. The stock has returned 2.68% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Mondelez International Inc has a price-earnings ratio of 30.03, a price-book ratio of 3.47, a price-earnings-to-growth (PEG) ratio of 1.95, a EV-to-Ebitda ratio of 22.09 and a price-sales ratio of 3.10.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 5.
Dollar General Corp
Coho Partners, Ltd. reduced their investment in NYSE:DG by 179,513 shares. The trade had a 0.82% impact on the equity portfolio. During the quarter, the stock traded for an average price of $246.69.
On 01/11/2023, Dollar General Corp traded for a price of $236.81 per share and a market cap of $52.94Bil. The stock has returned 3.47% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Dollar General Corp has a price-earnings ratio of 23.01, a price-book ratio of 8.69, a price-earnings-to-growth (PEG) ratio of 1.44, a EV-to-Ebitda ratio of 18.11 and a price-sales ratio of 1.48.
The price-to-GF Value ratio is 0.89, earning the stock a GF Value rank of 6.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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