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Yacktman Focused Fund Trims Procter & Gamble, Microsoft

The Yacktman Focused Fund (Trades, Portfolio), which primarily invests in U.S. companies, sold shares of the following stocks during the third quarter.


Procter & Gamble

The fund curbed its Procter & Gamble Co. (NYSE:PG) stake by 39.13%. The portfolio was impacted by -3.51%.

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The world's largest consumer products manufacturer has a market cap of $307.36 billion and an enterprise value of $328.89 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 7.9% and return on assets of 3.62% are outperforming 54% of companies in the Consumer Packaged Goods industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.32 is below the industry median of 0.41.

The largest guru shareholder of the company is Yacktman Asset Management (Trades, Portfolio) with 0.38% of outstanding shares, followed by Ken Fisher (Trades, Portfolio) with 0.20% and Pioneer Investments (Trades, Portfolio) with 0.18%.

PepsiCo

The fund trimmed its PepsiCo Inc. (NASDAQ:PEP) holding by 31.58%. The portfolio was impacted by -2.80%.

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The company, which manufactures nonalcoholic beverages, grain-based foods and a variety of snacks, has a market cap of $190.54 billion and an enterprise value of $217.40 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 92.43% and return on assets of 16.35% are outperforming 90% of companies in the Beverages - Non-Alcoholic industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.18 is below the industry median of 0.59.

The largest guru shareholder of the company is Pioneer Investments with 0.59% of outstanding shares, followed by Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.42% and Hotchkis & Wiley with 0.15%.

Coca-Cola

The Coca-Cola Co. (NYSE:KO) position was reduced by 30.88%, impacting the portfolio by -1.90%.

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The nonalcoholic beverage company has a market cap of $230.29 billion and an enterprise value of $263.08 billion

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 43.1% and return on assets of 8.89% are underperforming 88% of companies in the Beverages - Non-Alcoholic industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.3 is below the industry median of 0.59.

The largest guru shareholder of the company is Warren Buffett (Trades, Portfolio) with 9.35% of outstanding shares, followed by Jeremy Grantham (Trades, Portfolio) with 0.08% and Pioneer Investments with 0.07%.

Microsoft

The Focused Fund reduced the Microsoft Corp. (NASDAQ:MSFT) position by 11.39%. The trade had an impact of -0.43% on the portfolio.

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The provider of computer software, hardware and services has a market cap of $1.10 trillion and an enterprise value of $1.01 trillion.

GuruFocus gives the company a profitability and growth rating of 10 out of 10. The return on equity of 42.69% and return on assets of 15.27% are outperforming 89% of companies in the Application Software industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 1.79 is below the industry median of 2.51.

The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 0.46% of outstanding shares, followed by Dodge & Cox with 0.41% and Fisher with 0.27%.

Oracle

The fund reduced its Oracle Corp. (NYSE:ORCL) holding by 7.50%. The portfolio was impacted by -0.30%.

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The provider of a wide range of enterprise information technology solutions has a market cap of $180.81 billion and an enterprise value of $197.14 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 41.32% and the return on assets of 9.59% are outperforming 81% of companies in the Application Software industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.66 is below the industry median of 2.51.

The largest guru shareholder of the company is First Eagle Investment (Trades, Portfolio) with 0.96% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.77% and Fisher with 0.47%.

Walt Disney

The Walt Disney Co. (NYSE:DIS) stake was reduced by 3.85%. The portfolio was impacted by -0.25%.

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The entertainment company has a market cap of $235.80 billion and an enterprise value of $293.19 billion.


GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 18.92% and return on assets of 8.54% are outperforming 82% of companies in the Entertainment industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.12 is below the industry median of 0.61.

Pioneer Investments is another notable guru shareholder of the company with 0.27% of outstanding shares, followed by PRIMECAP Management with 0.18% and Spiros Segalas (Trades, Portfolio) with 0.22%.

Johnson & Johnson

The fund reduced its Johnson & Johnson (NYSE:JNJ) holding by 4%. The portfolio was impacted by -0.25%.

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The health care company has a market cap of $338.74 billion and an enterprise value of $352.88 billion.


GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 28.6% and return on assets of 11.2% are outperforming 84% of companies in the Drug Manufacturers industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.39 is below the industry median of 0.62.

The largest guru shareholder of the company is Fisher with 0.44% of outstanding shares, followed by Simons' firm with 0.16% and the T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.11%.

Disclosure: I do not own any stocks mentioned.

Read more here:

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This article first appeared on GuruFocus.