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Jeff Auxier Curbs Multiple Positions in 3rd Quarter

Guru releases quarterly portfolio

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Dec 01, 2016
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Jeff Auxier (Trades, Portfolio) manages the  Auxier Focus Fund.The guru made the following reductions during the third quarter:

The investor reduced his position in Molson Coors Brewing Co. Class B (

TAP, Financial) by 3.21%. The trade had an impact of -0.1% on the portfolio.

The company brews Carling, Coors Light, Molson Canadian and Staropramen. It also brews craft and specialty beers like Blue Moon, Creemore Springs, Cobra and Sharp's Doom Bar. During the third quarter, net sales decreased 6.9% and GAAP net income was $202.5 million. This compares to $13.7 million in a year ago.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The return on equity (ROE) of 6.44% and return on assets (ROA) of 3.65% are outperforming 50% of the companies in the Global Beverages - Brewers industry. Financial strength has a rating of 5 out of 10. The cash to debt ratio of 1.01 is above the industry median of 0.74.

The largest shareholder of the company among the gurus is

Daniel Loeb (Trades, Portfolio) with 0.79% of outstanding shares, followed by Alan Fournier (Trades, Portfolio) with 0.74%, Jim Simons (Trades, Portfolio) with 0.51%, Pioneer Investments (Trades, Portfolio) with 0.47%, First Eagle Investment (Trades, Portfolio) with 0.46%, Diamond Hill Capital (Trades, Portfolio) with 0.26% and  John Burbank (Trades, Portfolio) with 0.2%.

The guru reduced his stake in The Western Union Co. (

WU, Financial) by 10.01%. The transaction had an impact of -0.09% on the portfolio.

Western Union is engaged in global money transfer and payment services. It proves people with fast, reliable and convenient ways to send money around the world. Its segments are Consumer-to-Consumer, Consumer-to-Business and Business Solutions. Third-quarter revenue had a decline of 2% compared to last year, or an increase of 2% on a constant-currency basis. Earnings per share of 44 cents compare to 45 cents in the same quarter last year.

GuruFocus gives the stock a profitability and growth rating of 8 out of 10. The ROE of 61.29% and ROA of 8.62% outperform 88% of the companies in the Global Credit Services industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 1.10 is below the industry median of 1.27.

David Abrams (Trades, Portfolio) is the largest shareholder of the company among the gurus with 4.46% of outstanding shares, followed by John Rogers (Trades, Portfolio) with 1.28%, Mairs and Power (Trades, Portfolio) with 1.04%, Joel Greenblatt (Trades, Portfolio) with 0.25%, Jim Simons with 0.2% and Ray Dalio (Trades, Portfolio) with 0.05%.

Auxier reduced his holding of Corning Inc. (

GLW, Financial) by 5.53%. The trade impacted the portfolio by -0.08%.

Corning is engaged in manufacturing specialty glass and ceramics. Its segments are Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials and Life Sciences. Third-quarter GAAP earnings per share grew 73% year over year and core earnings grew by 16%. The company reported an increase of 10% for GAAP net sales.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 11.96% and ROA of 8.10% are outperforming 75% of the companies in the Global Electronic Components industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 1.23 is below the industry median of 1.79.

The largest shareholder of the company among the gurus is Dodge & Cox with 3.83% of outstanding shares, followed by Hotchkis & Wiley with 3.22%,

PRIMECAP Management (Trades, Portfolio) with 1.97%, Charles Brandes (Trades, Portfolio) with 0.68%, Donald Yacktman (Trades, Portfolio) with 0.33%, Mairs and Power (Trades, Portfolio) with 0.3% and the  Yacktman Fund (Trades, Portfolio) with 0.27%.

The guru reduced his stake in Unum Group. (

UNM, Financial) by 9.86%. The transaction had an impact of -0.07% on the portfolio.

Unum is a general business corporation. The company provides insurance and non-insurance services through its subsidiaries. It also provides a complementary portfolio of other insurance products. Third-quarter results were very strong and were driven by solid premium growth in the core business operations. Net income was $236.0 million, or $1.01 per diluted common share, compared to net income of $203.8 million, or $0.83 per diluted common share, for the third quarter of a year before.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 10.18% and ROA of 1.46% outperform 60% of the companies in the Global Insurance - Life industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.03 is far below the industry median of 8.23.

Hotchkis & Wiley is the largest shareholder of the company among the gurus with 3.66% of outstanding shares, followed by Donald Smith (Trades, Portfolio) with 2.93%,

NWQ Managers (Trades, Portfolio) with 2.15%, Pioneer Investments (Trades, Portfolio) with 0.29%, Ken Fisher (Trades, Portfolio) with 0.09% and First Eagle Investment (Trades, Portfolio) with 0.03%.

The investor reduced his position in GlaxoSmithKline PLC ADR. (

GSK, Financial) by 4.48%. The reduction had an impact of -0.05% on the portfolio.

The company creates, discovers, develops, manufactures and markets pharmaceutical products. During the third quarter, the operating margin was 30.7%, 2.7% higher from the same quarter of a year before. However, total earnings per share decreased 1%.

GuruFocus gives the stock a profitability and growth rating of 5 out of 10. The ROA of 10.70% and return on capital (ROC) of 0.54% are underperforming 65% of the companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.24 is below the industry median of 2.59.

The largest shareholder among the gurus is

Ken Fisher (Trades, Portfolio) with 0.49% of outstanding shares, followed by Hotchkis & Wiley with 0.33% and  Charles Brandes (Trades, Portfolio) with 0.14%.

The guru reduced his position in Philip Morris International Inc. (

PM, Financial) by 1.07%. The trade impacted the portfolio by 0.05%.

Philip Morris is a holding company. Through its subsidiaries, it manufactures and sells cigarettes and other tobacco products in markets outside the U.S. Third-quarter diluted earnings per share of $1.25 were flat year over year, while adjusted earnings per share grew 0.8% from the same quarter of 2015.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROA of 19.02% and ROC of 149.54% outperform 75% of the companies in the Global Tobacco industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.16 is below the industry median of 0.54.

Barrow, Hanley, Mewhinney & Strauss is the largest shareholder of the company among the gurus with 1.21% of outstanding shares, followed by

Tom Russo (Trades, Portfolio) with 0.66%, Lee Ainslie (Trades, Portfolio) with 0.47% and  Jeremy Grantham (Trades, Portfolio) with 0.34%.

Auxier reduced his position in Nike Inc. (

NKE, Financial) by 12.17%. The transaction had an impact of 0.04% on the portfolio.

Nike designs, develops and markets footwear, apparel, equipment and accessories. First-quarter revenue increased 8% and diluted earnings per share grew 9% from the same quarter of a year before.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 30.39% and ROA of 17.92% are outperforming 93% of the companies in the Global Footwear & Accessories industry. Financial strength has a rating of 8 out of 10. The cash-debt ratio of 2.33 is above the industry median of 1.14.

The largest shareholder of the company among the gurus is

Steve Mandel (Trades, Portfolio) with 1.05% of outstanding shares, followed by Spiros Segalas (Trades, Portfolio) with 0.54%, Frank Sands (Trades, Portfolio) with 0.35%, Jim Simons (Trades, Portfolio) with 0.21% and  John Griffin (Trades, Portfolio) with 0.16%.

Disclosure: I do not own any shares of any stocks mentioned in this article.

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