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Pzena Investments Exits Staples, Sells Intel, ExxonMobil

Fund's largest 3rd-quarter sales

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Nov 08, 2017
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Pzena Investment Management LLC, a global investment management firm, was founded in 1996 by Richard Pzena. During the third quarter the firm sold shares in the following stocks:

The guru sold out his position in Staples Inc. (SPLS), impacting the portfolio by -1.63%.

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The provider of products such as easy-to-use websites and mobile platforms has a market cap of $6.73 billion and an enterprise value of $6.59 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity (ROE) of -39.02% and return on assets (ROA) of -18.11% are underperforming 93% of the companies in the Global Specialty Retail industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 1.41 is above the industry median of 0.99.

The largest shareholder among the gurus is

Jim Simons (Trades, Portfolio) with 0.9% of outstanding shares followed by Joel Greenblatt (Trades, Portfolio) with 0.28% and CI Can Am Small Cap (Trades, Portfolio) with 0.07%.

The holding of Intel Corp. (INTC) was almost closed by a reduction of 99.93% with an impact of -1.57% on the portfolio.

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The largest chip-maker in the world has a market cap of $218.93 billion and an enterprise value of $233.07 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 20.63% and ROA of 11.73% are outperforming 83% of the companies in the Global Semiconductors industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.55 is below the industry median of 1.62.

Ken Fisher (Trades, Portfolio) is the largest shareholder among the gurus with 0.45% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 0.43%, Bill Nygren (Trades, Portfolio) with 0.22% and Simons with 0.07%.

The Regions Financial Corp. (RF) position was cut by 40.67%, and the transaction had an impact of -0.65% on the portfolio.

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The regional bank with headquarters in Alabama has a market cap of $18.02 billion and an enterprise value of $22.08 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. While the ROE of 6.88% is underperforming the sector, ROA of 0.98% is outperforming 57% of the companies in the Global Banks - Regional - US industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.56 is below the industry median of 2.05.

Pzena is the largest shareholder among the gurus with 1.01% of outstanding shares followed by HOTCHKIS & WILEY with 0.42%, Simons with 0.22% and

Arnold Schneider (Trades, Portfolio) with 0.08%.

The guru exited his holding of Abbott Laboratories (ABT). The trade had an impact of -0.61% on the portfolio.

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The health care company that manufactures medical devices has a market cap of $96.01 billion and an enterprise value of $109.02 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 7.71% and ROA of 3.43% are outperforming 56% of the companies in the Global Medical Devices industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.47 is below the industry median of 2.87.

The largest shareholder among the gurus is

Vanguard Health Care Fund (Trades, Portfolio) with 1.21% of outstanding shares followed by PRIMECAP Management with 0.86%, Diamond Hill Capital (Trades, Portfolio) with 0.63% and Jeremy Grantham (Trades, Portfolio) with 0.3%.

The guru cut its Johnson & Johnson (JNJ) holding by 18.60%. The trade had an impact of -0.36% on the portfolio.

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The manufacturer and marketer of health care products has a market cap of $375.49 billion and an enterprise value of $394.43 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 22.11% and ROA of 11.00% are outperforming 81% of the companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 6 out of 10.

Barrow, Hanley, Mewhinney & Strauss is the largest shareholder among the gurus with 0.46% of outstanding shares followed by Fisher with 0.44% and Simons with 0.23%.

ExxonMobil Corp. (XOM) stake was reduced by 20.18%, impacting the portfolio by -0.47%.

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The integrated oil and gas company has a market cap of $354.14 billion and an enterprise value of $397.4 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The ROE of 7.42% and ROA of 3.81% are outperforming 53% of the companies in the Global Oil & Gas Integrated industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.11 is below the industry median of 0.36.

The largest shareholder among the gurus is

First Eagle Investment (Trades, Portfolio) with 0.25% of outstanding shares followed by T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.16% and Fisher with 0.12%.

The guru’s holding of Cigna Corp. (CI) was curbed by 24.57%. The trade had an impact of -0.4% on the portfolio.

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The company that operates in the health care industry has a market cap of $50.66 billion and an enterprise value of $52.18 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. While the ROE of 16.66% is outperforming the sector, ROA of 3.88% is underperforming 57% of the companies in the Global Health Care Plans industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.68 is below the industry median of 1.51.

Dodge & Cox is the largest shareholder among the gurus with 5.64% of outstanding shares followed by Vanguard Health Care Fund with 2.53% and

Larry Robbins (Trades, Portfolio) with 1.52%.

The Dana Inc. (DAN) position was closed, impacting the portfolio by -0.37%.

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The auto parts manufacturer has a market cap of $4.47 billion and an enterprise value of $5.77 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of 65.66% and ROA of 13.43% are outperforming 91% of the companies in the Global Auto Parts industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.33 is below the industry median of 0.74.

The largest shareholder among the gurus is

Mario Gabelli (Trades, Portfolio) with 3.24% of outstanding shares followed by Chuck Royce (Trades, Portfolio) with 0.91% and First Pacific Advisors (Trades, Portfolio) with 0.74%.

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

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