Steven Cohen Hikes Stake in Microsoft by More Than 50,000%

Guru dramatically reduces holdings in EOG Resources, Dollar General, Johnson Controls

Nov 27, 2015

Guru Steven Cohen (Trades, Portfolio) has gained a reputation as an art collector in the last 15 years. In the third quarter he collected – and sold – a variety of stocks.

Cohen’s most significant third-quarter transaction was the reduction of his stake in EOG Resources Inc. (EOG, Financial), a Houston-based oil and gas company, by more than 87%. Cohen sold 2,453,710 shares for an average price of $77.7 per share. The deal had a -1.49% impact on Cohen’s portfolio.

EOG Resources has a market cap of $45.09 billion and an enterprise value of $50.77 billion. It has a forward P/E of 149.3, a P/B of 3.4 and a P/S of 3.9. GuruFocus has given EOG Resources a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

EOG Resources sold for $82.02 per share Friday.

Cohen reduced his stake in Dollar General Corp. (DG, Financial), a Goodlettsville, Tenn.-based discount retailer, by more than 99%, selling 1,852,100 shares for an average price of $76.33 per share. The transaction had a -1% impact on Cohen’s portfolio.

Dollar General has a market cap of $19.16 billion and an enterprise value of $21.74 billion. It has a P/E of 17.3, a forward P/E of 16.6, a P/B of 3.6 and a P/S of 1. GuruFocus has given Dollar General a Financial Strength rating of 8/10 and a Profitability and Growth rating of 9/10.

Larry Robbins (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Jim Simons (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Caxton Associates (Trades, Portfolio), Mario Cibelli (Trades, Portfolio), Manning & Napier Advisors Inc., Jim Chanos (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio) and Lee Ainslie (Trades, Portfolio) have shares of Dollar General in their portfolios.

On Friday Dollar General sold for $65.01 per share.

Cohen sold nearly 73% of his stake in ONEOK Inc. (OKE, Financial), a Tulsa, Okla.-based natural gas utility company. Cohen sold 3,715,506 shares for an average price of $36.51 per share. The transaction had a -0.87% impact on Cohen’s portfolio.

ONEOK has a market cap of $6.17 billion and an enterprise value of $18.44 billion. It has a P/E of 19.8, a forward P/E of 14.9, a P/B of 14.9 and a P/S of 0.7. GuruFocus has given ONEOK a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10.

Cohen is ONEOK’s leading shareholder among the gurus with 1,178,600 shares in his portfolio. Mario Gabelli (Trades, Portfolio) also has shares of ONEOK in his portfolio.

ONEOK sold for $29.46 per share Friday.

Cohen reduced his stake in Johnson Controls Inc. (JCI, Financial), a Glendale, Wis.-based provider of products and services for automobiles, automotive batteries and heating and cooling systems, by more than 82%. Cohen sold 2,129,931 shares for an average price of $44.09 per share. The deal had a -0.73% impact on Cohen’s portfolio.

Johnson Controls has a market cap of $29.6 billion and an enterprise value of $35.77 billion. It has a P/E of 19.4, a forward P/E of 11.6, a P/B of 2.9 and a P/S of 0.8. GuruFocus has given Johnson Controls a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.

On Friday Johnson Controls sold for $45.70 per share.

Cohen raised his stake in Lululemon Athletica Inc. (LULU, Financial), a Vancouver, British Columbia-based athletic apparel company, by nearly 8,021%. Cohen purchased 2,847,400 shares for an average price of $60.95 per share. The deal had a 1.14% impact on Cohen’s portfolio.

Lululemon has a market cap of $6.86 billion and an enterprise value of $6.32 billion. It has a P/E of 27.9, a forward P/E of 27.7, a P/B of 6.3 and a P/S of 3.9. GuruFocus has given Lululemon a Financial Strength rating of 9/10 and a Profitability and Growth rating of 8/10.

Manning & Napier Advisors Inc., Jim Simons (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Ron Baron (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and Lee Ainslie (Trades, Portfolio) have shares of Lululemon in their portfolios.

Lululemon sold for $52.5 per share Friday.

Cohen also increased his stake in Microsoft Corp. (MSFT, Financial), a Redmond, Wash.-based technology company, by more than 50,000%. Cohen bought 2,109,900 shares for an average price of $44.9 per share. The deal had a 0.73% impact on Cohen’s portfolio.

Microsoft has a market cap of $430.79 billion and an enterprise value of $370 billion. It has a P/E of 36.1, a forward P/E of 18.8, a P/B of 5.6 and a P/S of 4.9. GuruFocus has given Microsoft a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

On Friday Microsoft sold for $53.93 per share.

Cohen acquired a 1,469,300-share stake in Eli Lilly and Co. (LLY, Financial), an Indianapolis-based pharmaceutical company, for an average price of $84.37 per share. The transaction had a 0.97% impact on Cohen’s portfolio.

Eli Lilly has a market cap of $92.69 billion and an enterprise value of $96.47 billion. It has a P/E of 37.8, a forward P/E of 22.5, a P/B of 6.1 and a P/S of 4.5. GuruFocus has given Eli Lilly a Financial Strength rating of 8/10 and a Profitability and Growth rating of 5/10.

On Friday Eli Lilly sold for $83.65 per share.

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