Pennant Investors Exits Johnson & Johnson, Cuts Amazon
- By Tiziano Frateschi
Alan Fournier (Trades, Portfolio)'s Pennant Investors, LP sold shares of the following stocks during the third quarter, which ended on Sept. 30.
Johnson & Johnson
The firm closed its position Johnson & Johnson (JNJ). The trade had an impact of -3.86% on the portfolio.
The healthcare firm has a market cap of $385 billion and an enterprise value of $392 billion.
GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 27.72% and return on assets of 10.65% are underperforming 86% of companies in its industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.82 is below the industry median of 0.91.
The company's largest guru shareholders are Pioneer Investments (Trades, Portfolio) with 0.23% and Jeremy Grantham (Trades, Portfolio) with 0.09% of outstanding shares.
Amazon.com
The Amazon.com Inc. (AMZN) stake was trimmed by 24.62%, impacting the portfolio by -1.86%.
The world's largest online retailer by market cap has a market cap of $1.56 trillion and an enterprise value of $1.58 trillion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 25.53% and return on assets of 7.33% are outperforming 92% of companies in the retail, cyclical industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 0.84 is above the industry median of 0.51.
The largest guru shareholder of the company is Ken Fisher (Trades, Portfolio) with 0.34% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.21% and Spiros Segalas (Trades, Portfolio) with 0.20%.
Microsoft
The firm trimmed its position in Microsoft Corp. (MSFT) by 35.83%. The portfolio was impacted by -1.85%.
The company, which develops and licenses consumer software, has a market cap of $1.59 trillion and an enterprise value of $1.52 trillion.
GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 41.49% and return on assets of 16.38% are outperforming 93% of companies in the software industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 1.94 is above the industry median of 2.33.
The largest guru shareholder of the company is Fisher with 0.30% of outstanding shares, followed by PRIMECAP Management (Trades, Portfolio) with 0.29% and Pioneer Investments (Trades, Portfolio) with 0.27%.
Energy Transfer
The firm curbed its Energy Transfer LP (ET) stake by 84.45%, impacting the portfolio by -1.63%.
The company has a market cap of $16.40 billion and an enterprise value of $81.53 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of -1.18% and return on assets of -0.25% is outperforming 61% of companies in the oil and gas industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.01 is far below the industry median of 0.4.
The largest guru shareholder of the company is David Abrams (Trades, Portfolio) with 0.82% of outstanding shares, followed by David Tepper (Trades, Portfolio) with 0.70% and Louis Moore Bacon (Trades, Portfolio) with 0.37%.
Antero Midstream
The investment firm reduced its Antero Midstream Corp. (AM) position by 29.96%. The trade had an impact of -1.29% on the portfolio.
The midstream company has a market cap of $3.05 billion and an enterprise value of $6.17 billion.
GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of -12.06% and return on assets of -5.75% are underperforming 55% of companies in the oil and gas industry. Its financial strength is rated 3 out of 10 with the cash-debt ratio of 0.44.
The largest guru shareholder of the company is Glenn Greenberg (Trades, Portfolio) with 1.78% of outstanding shares, followed by Fournier with 0.29% and Joel Greenblatt (Trades, Portfolio) with 0.09%.
Disclosure: I do not own any stocks mentioned.
Read more here:
Maverick Capital Cuts Netflix, Facebook
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This article first appeared on GuruFocus.
