One of the most widely followed value firms, Yacktman Asset Management (Trades, Portfolio), started one position and increased its holdings of four other stocks in the third quarter, it announced Friday.
Yacktman’s buying activity during the quarter signals a strong interest in South Korea’s market. Its single launched position in its Yacktman Focused Fund (Trades, Portfolio), AmorePacific Corp. (XKRX:090435, Financial), is a Korean personal care company. Three of the four positions it already owned and bought more of during the quarter were based in South Korea: Hyundai Home Shopping Network Corp. (KXRK:057050, Financial), Samsung Electronics Co. Ltd. (XKRX:005935, Financial) and KT&G Corp. (XKRX:033780, Financial).
The firm bought shares of one more stock, Bollore SA (XPAR:BOL), a transportation and logistics company based in France.
Austin-based Yacktman Asset Management (Trades, Portfolio) is under the leadership of Chief Investment Officer Stephen Yactkman, who took over from his father, Donald Yacktman, in 2016. Donald Yacktman founded the firm in 1992 and maintains titles of partner and portfolio manager.
It has not changed its long-term, value-oriented approach and focus on protecting and growing capital.
“Value investing has now lagged growth investing for several years, although we continue to confidently adhere to our value approach in the belief that it produces superior results over time and helps manage the level of risk an investor takes on,” manager wrote in their second-quarter client letter. “We have very high standards for investments we make, and always emphasize that the price you pay is one of the most significant determinants of return.”
New buy
AmorePacific Corp. (XKRX:090435, Financial)
Yacktman purchased 154,163 shares of the company, whose share price averaged 140,200 South Korean won in the third quarter. The hold represented 0.66% of the portfolio.
AmorePacific Corp. has a market cap of 11,539.03 billion won; its shares were traded around 120,500.00 won with a price-earnings ratio of 35.87 and price-sales ratio of 2.64. The trailing 12-month dividend yield of AmorePacific Corp. stocks is 1.11%. The forward dividend yield of AmorePacific Corp. stocks is 1.11%. AmorePacific Corp. had an annual average earnings growth of 10.9% over the past 10 years. GuruFocus rated AmorePacific Corp. the business predictability rank of 4-star.
Adds
Hyundai Home Shopping Network Corp. (KXRK:057050, Financial)
Yacktman increased its position in the company by 54.71%, buying 226,217 shares. With the buys, the holding totaled 336,217 shares, or 1.16% of the portfolio. The company’s third-quarter share price averaged 112,523 won.
Samsung Electronics Co. Ltd. (XKRX:005935, Financial)
Yacktman increased its holding in the company by 24.77%, buying 1,570,421 shares. The holding totaled 12,945,593 shares, or 15.22% of the portfolio. Its third-quarter share price averaged 37,451 won.
Samsung Electronics Co. Ltd. has a market cap of 285,810.65 billion South Korean won; its shares were traded around 35,800.00 won with a price-earnings ratio of 6.44 and price-sales ratio of 1.15. The trailing 12-month dividend yield of Samsung Electronics Co. Ltd. stocks is 3.69%. The forward dividend yield of Samsung Electronics Co. Ltd. stocks is 4.09%. Samsung Electronics Co. Ltd. had an annual average earnings growth of 13% over the past 10 years.
KT&G Corp. (XKRX:033780, Financial)
Yacktman increased its holding by 9.77%, buying 55,001 shares. The holding totaled 617,703 shares, reflecting 2% of the portfolio. The stock’s third-quarter share price averaged 105,362 won.
KT&G Corp. has a market cap of 12,550.75 billion won; its shares were traded around 96,300.00 won with a price-earnings ratio of 10.74 and price-sales ratio of 2.79. The trailing 12-month dividend yield of KT&G Corp. stocks is 4.02%. The forward dividend yield of KT&G Corp. stocks is 4.02%. KT&G Corp. had an annual average earnings growth of 2.70% over the past 10 years. GuruFocus rated KT&G Corp. the business predictability rank of 2.5-star.
Bollore SA (XPAR:BOL)
Yacktman increased its holding by 3.85%, buying 707,179 shares. The holding totaled 19,081,724 shares, reflecting 2.84% of the portfolio. The stock’s third-quarter price averaged 4 euro per share.
Bollore SA has a market cap of 10.48 billion euro; its shares were traded around 3.55 euro with a price-earnings ratio of 14.99 and price-sales ratio of 0.56. The trailing 12-month dividend yield of Bollore SA stocks is 1.69%. The forward dividend yield of Bollore SA stocks is 1.69%. Bollore SA had an annual average earnings growth of 12.60% over the past 10 years. GuruFocus rated Bollore SA the business predictability rank of 2.5-star.
See Yacktman Focused Fund (Trades, Portfolio)'s portfolio here.
Read more here:
Yacktman Fund Trims Position in Klarman’s Twenty-First Century Fox in 2nd Quarter
Yacktman Fund Buys South Korea's KT&G Corp, France's Bollore
