Yacktman Focused Fund, Focuses Elsewhere

A New York based-food, snack and beverage company has recently seen a decline in shares held by one of its long-term stakeholders.

The Yacktman Focused Fund (Trades, Portfolio) sold 1.3 million PepsiCo (PEP, Financial) 1,300,000 shares for an average price of $96 per share during the second quarter. The transaction had a -3.06% impact on the fund’s portfolio.

Yacktman Focused Fund (Trades, Portfolio) is a long-term capital appreciation fund that invests mainly in U.S. companies, of which some pay dividends. In total, their value is currently listed at nearly $4 million, with stocks in 20 different companies. As of June 30, the Yacktman Focused Fund (Trades, Portfolio) holds 3 million shares of Pepsi.

PepsiCo has a market cap of $157.17 billion and an enterprise value of $179.58 billion. It has a P/E of 30.76, a forward P/E of 23.31, a P/B of 12.87 and a P/S of 2.59. GuruFocus ranked PepsiCo 6 out of 10 for financial strength and 7 out of 10 for profitability and growth.

Prior to selling these shares, PepsiCo ranked as Yacktman’s third highest holding; it is now fifth. According to GuruFocus data, Yacktman has gradually been selling PepsiCo shares since the second quarter of 2014.

Yacktman reduced its stake in Coca-Cola (KO, Financial) as well during the second quarter. The number of shares sold, however, was considerably lower at 600,000 shares for an average price of $41 per share. The impact of this transaction was significantly lower as well, at only -0.64%.

In comparison to PepsiCo, Coca-Cola has a market cap of $194.7 billion and an enterprise value of $222.24 billion. It has a P/E of 27.49 and a forward P/E of 23.47. Coca-cola has a P/B of 7.93 and a P/S of 4.58. GuruFocus ranked Coca-Cola 6 out of 10 for financial strength and 6 out of 10 for profitability and growth.

In addition to PepsiCo and Coca-Cola, the Yacktman Fund (Trades, Portfolio) reduced stakes in Proctor & Gamble (PG, Financial), Sysco Corp. (SYY, Financial) and Johnson & Johnson (JNJ, Financial), among others. In contrast, they invested in one new stock this quarter, Qinqin Foodstuffs Group (HKSE:01583), of which 1,387,080 shares were purchased.

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