Donald Yacktman Trims Stake in Procter & Gamble in 4th Quarter

Guru also reduces holdings in PepsiCo, Coca-Cola and Microsoft

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Feb 05, 2016
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Donald Yacktman (Trades, Portfolio), president and co-chief investment officer of Yacktman Asset Management Co. and a co-manager for The Yacktman Fund (Trades, Portfolio)s, reduced more than 40 of his existing stakes in the fourth quarter, including several holdings in well-known companies.

Yacktman’s most noteworthy reduction in the fourth quarter was the sale of more than 21% of his stake in Procter & Gamble Co. (PG, Financial), a Cincinnati-based consumer goods company. Yacktman sold 5,990,074 shares for an average price of $76.53 per share. The deal had a -2.83% impact on Yacktman’s portfolio.

Yacktman’s remaining stake of 21,858,570 shares is 0.81% of Procter & Gamble’s outstanding shares and 13.14% of Yacktman’s total assets. Warren Buffett (Trades, Portfolio) is Procter & Gamble’s leading shareholder among the gurus with 52,793,078 shares in his portfolio. The stake is 1.95% of Procter & Gamble’s outstanding shares and 2.98% of Buffett’s total assets.

Procter & Gamble has a P/E of 28.1, a forward P/E of 19.7, a P/B of 3.6 and a P/S of 3.2. GuruFocus gives Procter & Gamble a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

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Procter & Gamble sold for $81.2 per share Friday.

Yacktman trimmed his stake in PepsiCo Inc. (PEP, Financial), a Purchase, New York-based food, snack and beverage company, by more than 19%. Yacktman sold 3,435,077 shares for an average price of $99.89 per share. The transaction had a -2.13% impact on Yacktman’s portfolio.

Yacktman’s existing stake of 14,361,804 shares is the largest among the gurus. Yacktman owns 0.99% of PepsiCo’s outstanding shares. The stake is 10.87% of his total assets.

PepsiCo has a P/E of 28.8, a forward P/E of 18.3, a P/B of 10.6 and a P/S of 2.3. GuruFocus gives PepsiCo a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

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PepsiCo sold for $97.32 per share Friday.

Yacktman cut his stake in Sysco Corp. (SYY, Financial), a Houston-based foodservice company, by more than 20%. Yacktman sold 5,244,734 shares for an average price of $41.05 per share. The deal had a -1.34% impact on his portfolio.

Yacktman’s remaining stake of 20,571,055 shares is the largest stake among the gurus. It is 3.64% of Sysco’s outstanding shares and 6.39% of Yacktman’s total assets.

Sysco has a P/E of 39, a forward P/E of 20.5, a P/B of 6.2 and a P/S of 0.5. GuruFocus gives Sysco a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.

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Sysco sold for $43.07 per share Friday.

Yacktman reduced his stake in Coca-Cola (KO, Financial), an Atlanta-based nonalcoholic beverage company, by almost 20%. Yacktman sold 4,972,671 shares for an average price of $42.51 per share. The transaction had a -1.31% impact on Yacktman’s portfolio.

Yacktman’s remaining stake in Coca-Cola is 19,918,068 shares, which is 0.46% of the company’s outstanding shares and 6.48% of Yacktman’s total assets. Buffett is Coca-Cola’s leading shareholder among the gurus with 400,000,000 shares in his portfolio. Buffett’s stake is 9.2% of the company’s outstanding shares and 12.6% of Buffett’s total assets.

Coca-Cola has a P/E of 27, a forward P/E of 19.1, a P/B of 7.1 and a P/S of 4.1. GuruFocus gives Coca-Cola a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

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Coca-Cola sold for $42.44 per share Friday.

Yacktman decreased his stake in Microsoft Corp. (MSFT, Financial), a Redmond, Washington-based consumer electronics company, by more than 24%. Yacktman sold 4,179,471 shares for an average price of $52.81 per share. The deal had a -1.21% impact on Yacktman’s portfolio.

Yacktman’s remaining stake of 12,932,358 shares is 0.16% of Microsoft’s outstanding shares and 5.43% of Yacktman’s total assets. Microsoft’s leading shareholder among the gurus is Jeff Ubben (Trades, Portfolio). Ubben’s 75,273,091-share stake is 0.95% of Microsoft’s outstanding shares and 19.37% of Ubben’s total assets.

Microsoft has a P/E of 33.5, a forward P/E of 16.4, a P/B of 5.1 and a P/S of 4.6. GuruFocus gives Microsoft a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

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Microsoft sold for $50.16 per share Friday.

Yacktman lowered his stake in Viacom Inc. (VIAB, Financial), a New York-based mass media company, by more than 38%. Yacktman sold 3,185,249 shares for an average price of $46.95 per share. The transaction had a -0.9% impact on his portfolio.

Yacktman’s remaining stake in Viacom is 5,122,201 shares. The stake is 1.29% of Viacom’s outstanding shares and 1.6% of Yacktman’s total assets. He is Viacom’s leading shareholder among the gurus.

Viacom has a P/E of 9.6, a forward P/E of 7.5, a P/B of 5.2 and a P/S of 1.3. GuruFocus gives Viacom a Financial Strength rating of 4/10 and a Profitability and Growth rating of 8/10.

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Viacom sold for $43.25 per share Friday.

Yacktman pared his stake in Cisco Systems Inc. (CSCO, Financial), a San Jose, California-based technology company, by 14%. Yacktman sold 5,070,745 shares for an average price of $27.61 per share. The deal had a -0.87% impact on his portfolio.

Yacktman’s remaining stake of 31,043,403 shares is 0.61% of Cisco’s outstanding shares and 6.38% of Yacktman’s total assets. Cisco’s leading shareholder among the gurus is Dodge & Cox with a stake of 67,295,678 shares. Dodge & Cox’s stake is 1.33% of Cisco’s outstanding shares and 1.78% of the guru’s total assets.

Cisco has a P/E of 12.3, a forward P/E of 9.7, a P/B of 1.9 and a P/S of 2.4. GuruFocus gives Cisco a Financial Strength rating of 5/10 and a Profitability and Growth rating of 9/10.

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Cisco sold for $22.89 per share Friday.

Yacktman trimmed his stake in CH Robinson Worldwide Inc. (CHRW, Financial), an Eden Prairie, Minnesota-based transportation company, by nearly 38%. Yacktman sold 1,886,826 shares for an average price of $67.28 per share. The transaction had a -0.84% impact on his portfolio.

Yacktman’s remaining stake of 3,095,797 shares is 2.16% of CH Robinson’s outstanding shares and 1.45% of Yacktman’s total assets. The stake is the largest among the gurus.

CH Robinson has a P/E of 20, a forward P/E of 17, a P/B of 8.6 and a P/S of 0.7. GuruFocus gives CH Robinson a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

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CH Robinson sold for $68.08 per share Friday.

Yacktman lowered his stake in Oracle Corp. (ORCL, Financial), a Redwood City, California-based computer technology company, by more than 13%. Yacktman sold 3,507,537 shares for an average price of $38.22 per share. The deal had a -0.83% impact on Yacktman’s portfolio.

The transaction left Yacktman with a stake of 22,852,319 shares, which is 0.54% of Oracle’s outstanding shares and 6.32% of Yacktman’s total assets. First Eagle Investment (Trades, Portfolio) is Oracle’s leading shareholder among the gurus with a stake of 38,101,527 shares. The stake is 0.91% of Oracle’s outstanding shares and 3.47% of First Eagle’s total assets.

Oracle has a P/E of 17.1, a forward P/E of 12.6, a P/B of 3.3 and a P/S of 4.2. GuruFocus gives Oracle a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.

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Oracle sold for $35.7 per share Friday.

Yacktman clipped his stake in Exxon Mobil Corp. (XOM, Financial), an Irving, Texas-based oil and gas company, by nearly 28%. Yacktman sold 1,627,230 shares for an average price of $80.04 per share. The transaction had a -0.8% impact on Yacktman’s portfolio.

Yacktman’s remaining stake is 4,266,560 shares, which is 0.1% of Exxon Mobil’s outstanding shares and 2.52% of Yacktman’s total assets. Exxon Mobil’s leading shareholder among the gurus is T Rowe Price Equity Income Fund (Trades, Portfolio) with a stake of 6,775,000 shares. That is 0.16% of Exxon Mobil’s outstanding shares and 2.38% of the Fund’s total assets.

Exxon Mobil has a P/E of 17, a forward P/E of 18.9, a P/B of 2 and a P/S of 1.1. GuruFocus gives Exxon Mobil a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

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Exxon Mobil sold for $80.08 per share Friday.

Yacktman reduced his stake in Stryker Corp. (SYK, Financial), a Kalamazoo, Michigan-based medical technology company, by more than 34%, selling 1,082,585 shares for an average price of $95.72 per share. The deal had a -0.67% impact on Yacktman’s portfolio.

Yacktman’s stake in the company is now 2,061,165 shares. That is 0.55% of Stryker’s outstanding shares and 1.45% of Yacktman’s total assets. Stryker’s leading shareholder among the gurus is Vanguard Health Care Fund (Trades, Portfolio) with a 2,498,900-share stake. The stake is 0.67% of Stryker’s outstanding shares and 0.46% of Vanguard’s total assets.

Stryker has a P/E of 31.5, a forward P/E of 16.1, a P/B of 4.3 and a P/S of 3.9. GuruFocus gives Stryker a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

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Stryker sold for $96.91 per share Friday.

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