Jana Partners (Trades, Portfolio) is an investment manager specializing in event-driven investing. The firm was founded in 2001 by Barry Rosenstein. The firm manages approximately $11 billion in investments and commitments and is located in New York. During the fourth quarter, the firm invested in the following stocks.
The firm added to its stake in HD Supply Holdings Inc. (HDS, Financial) by 74.01%. The trade had an impact of 4.6% on the portfolio.
The company is an industrial distributor in North America. It operates in three market sectors: Maintenance, Repair and Operations, Infrastructure and Power and Specialty Construction. During the third quarter, net sales increased by $66 million or 3.4% from the same quarter a year before. Gross profit grew $35 million or 5.4%. The company reported a 1.8% increase for operating income.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10. The return on equity (ROE) of 163.82% and return on assets (ROA) of 16.92% are outperforming 97% of the companies in the Global Industrial Distribution industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.04 is below the industry median of 0.89.
The company's largest shareholder among the gurus is Jana Partners with 3.91% of outstanding shares, followed by John Griffin (Trades, Portfolio) with 3.57%, Daniel Loeb (Trades, Portfolio) with 1.12%, Steven Cohen (Trades, Portfolio) with 0.59%, Jim Simons (Trades, Portfolio) with 0.35% and Scott Black (Trades, Portfolio) with 0.03%.
The firm established a stake in Bristol-Myers Squibb Co. (BMY, Financial), buying 3,872,261 shares. The transaction an impact of 3.97% on the portfolio.
It is a biopharmaceutical company that discovers, develops, licenses, manufactures, markets, distributes and sells biopharmaceutical products. Fourth-quarter revenues increased 22% from the same quarter of a year before and non-GAAP diluted EPS grew 66%. It reported net earnings of $894 million or 53 cents per share, up from a net loss of $197 million, or 12 cents per share, a year ago.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10. The ROE of 29.57% and ROA of 13.60% are outperforming 87% of the companies in the Global Drug Manufacturers – Major industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.95 is below the industry median of 2.56.
Vanguard Health Care Fund (Trades, Portfolio) is the largest shareholder of the company among the gurus with 2.71% of outstanding shares, followed by Dodge & Cox with 1.35%, Spiros Segalas (Trades, Portfolio) with 0.53%, Jana Partners with 0.23%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.2%, Manning & Napier Advisors Inc. with 0.18%, Eaton Vance Worldwide Health Sciences Fund (Trades, Portfolio) with 0.07% and Ken Fisher (Trades, Portfolio) with 0.04%.
The firm initiated a holding in Salesforce.com Inc. (CRM, Financial), buying 3,169,289 shares. The trade had an impact of 3.8% on the portfolio.
The company provides enterprise cloud computing solutions. It offers social and mobile cloud apps and platform services and professional services to facilitate the adoption of its solutions.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 3.63% and ROA of 1.57% are underperforming 58% of the companies in the Global Software – Application industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.59 is below the industry median of 7.61.
The largest shareholder of the company among the gurus is Frank Sands (Trades, Portfolio) with 2.39% of outstanding shares, followed by Segalas with 1.07%, Jana Partners with 0.45%, Manning & Napier Advisors with 0.27%, Cohen with 0.11%, PRIMECAP Management (Trades, Portfolio) with 0.11%, Ray Dalio (Trades, Portfolio) with 0.02% and RS Investment Management (Trades, Portfolio) with 0.02%.
The firm established a holding in TransDigm Group Inc. (TDG, Financial), buying 581,211 shares. The trade had an impact of 2.54% on the portfolio.
The company is a designer, producer and supplier of engineered aircraft components for use on commercial and military aircraft in service. During the first quarter, net sales grew 16% while net income decreased 8.2% from the same quarter of a year before. The company reported a decrease of 81.6% for earnings per share.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROA of 6.15% and ROC of 124.15% are outperforming 76% of the companies in the Global Aerospace & Defense industry. Financial strength has a rating of 3 out of 10. The cash-debt ratio of 0.09 is below the industry median of 0.38.
Steve Mandel (Trades, Portfolio) is the largest shareholder of the company among the gurus with 3.84% of outstanding shares, followed by Griffin with 2.23%, Lee Ainslie (Trades, Portfolio) with 1.47%, Ron Baron (Trades, Portfolio) with 1.18%, Jana Partners with 1.1% and Chase Coleman (Trades, Portfolio) with 0.81%.
The firm boosted its holding in NuVasive Inc. (NUVA, Financial) by 2,141.86%, with an impact of 2.04% on the portfolio.
It is a medical device company that develops minimally-disruptive surgical products and procedurally-integrated solutions for the spine. Its currently marketed product portfolio is focused on applications for spine fusion surgery. Fourth-quarter revenue increased 18.6%, the non-GAAP operating profit margin improved 70 basis points and non-GAAP diluted EPS increase 26.7%.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10. The ROE of 4.56% and ROA of 2.06% are outperforming 54% of the companies in the Global Medical Devices industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.25 is below the industry median of 1.84.
The largest shareholder of the company among the gurus is Jana Partners with 3.58% of outstanding shares, followed by Fisher with 2.76%, PRIMECAP Management with 1.69%, RS Investment Management with 1.55%, Andreas Halvorsen (Trades, Portfolio) with 1.37%, Eaton Vance Worldwide Health Sciences Fund with 0.68%, Mario Gabelli (Trades, Portfolio) with 0.32% and Pioneer Investments (Trades, Portfolio) with 0.06%.
The firm bought 892,719 shares of Aetna Inc. (AET, Financial), establishing a stake. The trade had an impact of 1.94% on the portfolio.
It is a health care benefits company that offers traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans. Fourth-quarter total revenue increased 5% year over year and operating revenue increased 4%. The company reported a 57% decrease in net income.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 13.02% and ROA of 3.52% are outperforming 52% of the companies in the Global Health Care Plans industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio is 1.02.
The largest shareholder of the company among the gurus is Vanguard Health Care Fund with 2.47% of outstanding shares, followed by Larry Robbins (Trades, Portfolio) with 1.57%, Chris Davis (Trades, Portfolio) with 1.19%, Simons with 0.86%, Ainslie with 0.67%, Jana Partners with 0.63%, Diamond Hill Capital (Trades, Portfolio) with 0.47% and Dalio with 0.06%.
The firm added to its position in Yahoo Inc. (YHOO) by 904.67%, impacting the portfolio by 1.22%.
It is a technology company that offers search, content and communication on mobile phones, tablets and desktops. Its segments include Americas, EMEA and Asia Pacific. Fourth-quarter GAAP revenue was $1,469 million, up from $1,273 million in the same quarter a year before. Net earnings were $162 million, down from $4,435 million in the fourth quarter of the prior year.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. Its ROE of -0.71% and ROA of -0.45% are underperforming 63% of the companies in the Global Internet Content & Information industry. Financial strength has a rating of 7 out of 10, with no debt.
The largest shareholder of the company among the gurus is First Pacific Advisors (Trades, Portfolio) with 0.76% of outstanding shares, followed by PRIMECAP Management with 0.66%, Cohen with 0.55%, David Einhorn (Trades, Portfolio) with 0.45%, Steven Romick (Trades, Portfolio) with 0.36%, Jana Partners with 0.21%, Simons with 0.18% and David Tepper (Trades, Portfolio) with 0.14%.
The fund established a 386,868-share stake in McKesson Corp. (MCK, Financial). The transaction had an impact of 0.95% on the portfolio.
The company distributes pharmaceuticals, medical supplies and health care information technology. Third-quarter revenue grew 5% year over year and GAAP earnings per diluted share from continuing operations increased 6%.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. While the ROE of 21.65% is outperforming the sector, the ROA of 3.35% is underperforming 54% of the companies in the Global Medical Distribution industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.27 is below the industry median of 0.67.
The largest shareholder of the company among the gurus is Vanguard Health Care Fund with 3.38% of outstanding shares, followed by Charles Brandes (Trades, Portfolio) with 0.49%, Seth Klarman (Trades, Portfolio) with 0.47%, Robbins with 0.32%, Jana Partners with 0.18%, Greenblatt with 0.13%, Tepper with 0.13%, Richard Pzena (Trades, Portfolio) with 0.09% and Ronald Muhlenkamp (Trades, Portfolio) with 0.03%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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