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Tiziano Frateschi
Tiziano Frateschi
Articles (1686)  | Author's Website |

Chris Davis Keeps Buying Intel, Ctrip.com, Novartis

The guru bought these stocks in the last 2 quarters

Chris Davis (Trades, Portfolio) is the portfolio manager of Davis Financial Fund. In both the first and second quarters the guru bought shares in the following stocks:

Intel Corp. (INTC)

In the first quarter, the guru raised the stake by 82.24% and by 35.83% in the second quarter. The guru holds 1.97% of outstanding shares.

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Intel is the world's largest chipmaker. It is engaged in making a semiconductor chip. It designs and manufactures integrated digital technology products like integrated circuits for industries such as computing and communications.

Second-quarter revenue grew 14% year over year; driven by strong top-line growth and gross margin improvement, GAAP EPS was 58 cents, and non-GAAP EPS was 72 cents, up 22% year over year.

PRIMECAP Management (Trades, Portfolio) is the largest shareholder among the gurus with 0.52% of outstanding shares followed by Ken Fisher (Trades, Portfolio) with 0.44%, Bill Nygren (Trades, Portfolio) with 0.22%, Richard Pzena (Trades, Portfolio) with 0.18%, Jim Simons (Trades, Portfolio) with 0.13% and Larry Robbins (Trades, Portfolio) with 0.1%.

Rexford Industrial Realty Inc. (REXR)

In the first quarter, Davis increased his position by 97.79% and then added some shares in the second quarter, recording an increase of just 0.01%. The guru holds 0.29% of outstanding shares.

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Rexford Industrial Realty is a U.S.-based self-administered and self-managed full-service real estate investment trust focused on owning, operating and acquiring industrial properties in Southern California infill markets.

During the second quarter the company reported a net income of 26 cents per diluted share compared to 19 cents per diluted share last year and rental revenues of $36.4 million, which represents an increase of 19.4% year over year.

The largest shareholder among the gurus is Ron Baron (Trades, Portfolio) with 0.68% of outstanding shares followed by Manning & Napier Advisors Inc. with 0.49%, Simons with 0.32%, Pioneer Investments (Trades, Portfolio) with 0.25%, Fisher with 0.14% and Paul Tudor Jones (Trades, Portfolio) with 0.02%.

Ctrip.com International Ltd. ADR (CTRP)

In the first quarter, the guru increased his holding by 21.82% and in the second quarter increased it by 26.80%. The guru holds 0.2% of outstanding shares.

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Ctrip.com International provides travel-related services. Its areas of interest include reservation, transportation ticketing, packaged-tour and corporate travel management services as well as internet-related advertising.

Net revenues increased 46% year on year during the first quarter; due to further efficiency gain, gross margin was 80% for the first quarter, improving from 73% in the same quarter of 2016 and 78% in the previous quarter.

Fisher is the largest shareholder among the gurus with 1.97% of outstanding shares followed by Frank Sands (Trades, Portfolio) with 0.25%, Baron with 0.23%, Stanley Druckenmiller (Trades, Portfolio) with 0.18%, Louis Moore Bacon (Trades, Portfolio) with 0.15%, Jones with 0.07% and Matthews China Fund (Trades, Portfolio) with 0.06%.

GGP Inc. (GGP)

In the first quarter, the guru increased the position by 0.41% and by 69.43% in the second quarter. The guru holds 0.07% of outstanding shares.

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GGP is a self-administered and self-managed real estate investment trust. It is engaged in owning, managing, leasing and redeveloping high-quality retail properties throughout the U.S.

Second-quarter net income attributable to GGP was $126 million, or 13 cents per diluted share, as compared to $186 million, or 19 cents per diluted share, in the prior year. The company acquired its joint venture partner’s interest in Neshaminy Mall in Bensalem, Pennsylvania, and the Younkers anchor box at Jordan Creek Town Center in West Des Moines, Iowa.

The largest shareholder among the gurus is Simons with 0.1% of outstanding shares followed by Steven Cohen (Trades, Portfolio) with 0.06%, Manning & Napier Advisors with 0.03%, Murray Stahl (Trades, Portfolio) with 0.01% and Ray Dalio (Trades, Portfolio) with 0.01%.

Novartis AG ADR (NVS)

The position was increased by 15.93% in the first quarter. In the second quarter it was increased by 18.11%. The guru holds 1.31% of outstanding shares.

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Novartis AG is a part of the health care industry. Its main activity is to research and develop health care products and pharmaceuticals such as oncology medicines, generic and biosimilar medicines and eye care devices.

Dodge & Cox is the largest shareholder among the gurus with 2.16% of outstanding shares followed by PRIMECAP Management with 0.93%, Fisher with 0.28%, Manning & Napier Advisors with 0.2%, Simons with 0.1%, Cohen with 0.03% and Sarah Ketterer (Trades, Portfolio) with 0.01%.

PNC Financial Services Group Inc. (PNC)

Davis increased his position by 15.38% during the first quarter and by 1.74% in the second quarter. The guru holds 0.06% of outstanding shares.

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PNC Financial Services Group operates in the financial services domain. Its main business includes retail banking, corporate and institutional banking, asset management and residential mortgage banking.

Second-quarter total revenue grew 5%, and net interest income increased $98 million, or 5%. The company reported 5% increase for noninterest expense.

The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 0.53% of outstanding shares followed by David Tepper (Trades, Portfolio) with 0.41%, Pioneer Investments with 0.36%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.36%, Diamond Hill Capital (Trades, Portfolio) with 0.33%, Charles Brandes (Trades, Portfolio) with 0.23% and Mario Gabelli (Trades, Portfolio) with 0.17%.

Noah Holdings Ltd. ADR (NOAH)

In the first quarter, the guru increased his stake by 8.95% and in the second quarter increased it by 13.35%. The guru holds 2.54% of outstanding shares.

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Noah Holdings is a wealth management service provider. It focuses on global wealth investment and asset allocation services for high net worth individuals and enterprises in China.

First quarter net revenues had a 17.5% increase from the corresponding period in 2016 and income from operations grew 13%.

State Street Corp. (STT)

The position was increased by 20.34% in the first quarter. In the second quarter the guru increased it by 1.67%. The guru holds 0.52% of outstanding shares.

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State Street is a financial holding company operating through Investment Servicing and Investment Management. It provides services to mutual funds, corporate and public retirement plans, insurance companies, foundations and endowments.

Total fee revenue grew 1.7% from the first quarter and 8.9% from the second quarter of a year before. Diluted earnings per share grew 33% quarter on quarter and 4.1% year over year.

Barrow, Hanley, Mewhinney & Strauss is the largest shareholder among the gurus with 1.73% of outstanding shares followed by HOTCHKIS & WILEY with 1.41%, Nygren with 1.26%, T Rowe Price Equity Income Fund with 1.15%, Pzena with 0.75%, Brandes with 0.53% and Gabelli with 0.38%.

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

About the author:

Tiziano Frateschi
You can read about me on this blog: www.theextraincome.info

It gives suggestions on position trading.

Visit Tiziano Frateschi's Website


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