Long term value shop
Tweedy Browne
reported their Q2 portfolio. The firm bought into Google and
beaten tech Cisco (
CSCO
). It did reduced their top holding Philip Morris International (
PM
), and sold out high dividend payers such as AT &T (
T
), and Coca-Cola (
KO
). Regarding to the positions
Tweedy Browne
sold, they wrote in their
second quarter letter
:
In terms of sales, we sold our remaining shares of Linde,
AT&T (
T
), Genuine Parts (
GPC
) and Coca-Cola (
KO
), all of which had performed well, meeting our intrinsic value
targets. We also sold our remaining shares of Mediaset SpA, which
had been a disappointment in the wake of continued eurozone
instability and economic malaise in Southern Europe. We continued
to reduce our positions in the Mexican coca cola bottlers, Arca
Continental and Coca-Cola Femsa, and trimmed our positions in
Henkel, Kone, Philip Morris International, Diageo, Wal-Mart, and
Kimberly Clark, among others as these companies' equity prices
approached intrinsic value, and more attractively priced
alternatives became available.
As of 06/30/2012, Tweedy Browne CO LLC owns 55 stocks with a
total value of $2.8 billion. These are the details of the buys
and sells.
- New Purchases:
GOOG
,
PSX
,
HBC
,
- Added Positions:
JNJ
,
BK
,
CSCO
,
COP
,
SYY
,
TOT
,
- Reduced Positions:
PM
,
KOF
,
FII
,
- Sold Out:
T
,
BR
,
CTAS
,
KO
,
GPC
,
KFT
,
For the details of Tweedy Browne's stock buys and sells, go to
http://www.gurufocus.com/StockBuy.php?GuruName=Tweedy+Browne
This is the sector weightings of his portfolio:
|
Financials
|
23.2% |
|
Consumer Goods
|
21.6% |
|
Health Care
|
16.3% |
|
Industrials
|
14.4% |
|
Oil & Gas
|
10.7% |
|
Consumer Services
|
7.1% |
|
Technology
|
5.7% |
|
Not Assigned
|
0.5% |
|
Basic Materials
|
0.2% |
These are the top 5 holdings of Tweedy Browne
- Johnson & Johnson (
JNJ
) - 4,398,798 shares, 10.5% of the total portfolio. Shares
added by 18.1%
- Philip Morris International Inc. (
PM
) - 3,206,793 shares, 9.8% of the total portfolio. Shares
reduced by 22.69%
- ConocoPhillips (
COP
) - 2,888,805 shares, 5.7% of the total portfolio. Shares added
by 6.06%
- Berkshire Hathaway Inc. (
BRK.A
) - 1,132 shares, 5.0% of the total portfolio. Shares reduced
by 1.14%
- Baxter International Inc. (
BAX
) - 2,549,273 shares, 4.8% of the total portfolio. Shares
reduced by 1.01%
New Purchase: Google Inc (
GOOG
)
Tweedy Browne initiated holdings in Google Inc. Their purchase
prices were between $558.07 and $645.74, with an estimated
average price of $599.34. The impact to their portfolio due to
this purchase was 3.2%. Their holdings were 158,023 shares as of
06/30/2012. Google is a public and profitable company focused on
search services. Google Inc has a market cap of $209.95 billion;
its shares were traded at around $653.59 with a P/E ratio of 18.8
and P/S ratio of 5.5. Google Inc had an annual average earnings
growth of 51.9% over the past 10 years. GuruFocus rated Google
Inc the business predictability rank of 2.5-star.
New Purchase: Phillips 66 (
PSX
)
Tweedy Browne initiated holdings in Phillips 66. Their purchase
prices were between $29.07 and $34.18, with an estimated average
price of $31.83. The impact to their portfolio due to this
purchase was 1.2%. Their holdings were 1,055,393 shares as of
06/30/2012. Phillips 66 is a downstream energy company. It
operates in three segments: Refining & Marketing, Midstream
and Chemicals. Phillips 66 has a market cap of $25.01 billion;
its shares were traded at around $40.11 with a P/E ratio of 5.6
and P/S ratio of 0.1. The dividend yield of Phillips 66 stocks is
2%.
New Purchase: Hsbc Holdings Plc (adr) (
HBC
)
Tweedy Browne initiated holdings in Hsbc Holdings Plc (adr).
Their purchase prices were between $38.93 and $45.8, with an
estimated average price of $42.98. The impact to their portfolio
due to this purchase was 0.27%. Their holdings were 175,245
shares as of 06/30/2012. HSBC HOLDINGS is one of the largest
banking and financial services organisations in the world. Hsbc
Holdings Plc (adr) has a market cap of $162.47 billion; its
shares were traded at around $44.49 with and P/S ratio of 1.8.
The dividend yield of Hsbc Holdings Plc (adr) stocks is 4.6%.
Hsbc Holdings Plc (adr) had an annual average earnings growth of
8.9% over the past 10 years.
Sold Out: At&t Inc. (
T
)
Tweedy Browne sold out their holdings in At&t Inc.. Their
sale prices were between $30.32 and $35.79, with an estimated
average price of $33.15. AT&T Inc. is a premier
communications holding company. At&t Inc. has a market cap of
$219.8 billion; its shares were traded at around $37.36 with a
P/E ratio of 16.4 and P/S ratio of 1.7. The dividend yield of
At&t Inc. stocks is 4.7%. At&t Inc. had an annual average
earnings growth of 3.3% over the past 10 years.
Sold Out: Broadridge Financial Solutions, Inc. (
BR
)
Tweedy Browne sold out their holdings in Broadridge Financial
Solutions, Inc.. Their sale prices were between $19.94 and
$24.12, with an estimated average price of $21.71. Broadridge is
a global provider of technology-based outsourcing solutions to
the financial services industry. Broadridge Financial Solutions,
Inc. has a market cap of $2.76 billion; its shares were traded at
around $22.09 with a P/E ratio of 14.3 and P/S ratio of 1.2. The
dividend yield of Broadridge Financial Solutions, Inc. stocks is
2.9%.
Sold Out: Cintas Corporation (
CTAS
)
Tweedy Browne sold out their holdings in Cintas Corporation.
Their sale prices were between $35.71 and $39.57, with an
estimated average price of $37.9. Cintas Corp. provides a
specialized service to businesses of all types - from small
service and manufacturing companies to major corporations. Cintas
Corporation has a market cap of $5.18 billion; its shares were
traded at around $40.7 with a P/E ratio of 18 and P/S ratio of
1.3. The dividend yield of Cintas Corporation stocks is 1.3%.
Cintas Corporation had an annual average earnings growth of 4.5%
over the past 10 years. GuruFocus rated Cintas Corporation the
business predictability rank of 2-star.
Sold Out: The Coca-cola Company (
KO
)
Tweedy Browne sold out their holdings in The Coca-cola Company.
Their sale prices were between $71.96 and $77.46, with an
estimated average price of $74.95. The Coca-Cola Company is the
world's largest beverage company and is the producer and marketer
of soft drinks. The Coca-cola Company has a market cap of $177.76
billion; its shares were traded at around $39.2055 with a P/E
ratio of 20.1 and P/S ratio of 3.8. The dividend yield of The
Coca-cola Company stocks is 2.6%. The Coca-cola Company had an
annual average earnings growth of 8% over the past 10 years.
GuruFocus rated The Coca-cola Company the business predictability
rank of 3.5-star.
Sold Out: Genuine Parts Company (
GPC
)
Tweedy Browne sold out their holdings in Genuine Parts Company.
Their sale prices were between $57.45 and $66.26, with an
estimated average price of $62.5. GENUINE PARTS COMPANY is a
distributor of automotive replacement parts in the U. Genuine
Parts Company has a market cap of $10 billion; its shares were
traded at around $63.46 with a P/E ratio of 16.7 and P/S ratio of
0.8. The dividend yield of Genuine Parts Company stocks is 3.1%.
Genuine Parts Company had an annual average earnings growth of
5.4% over the past 10 years. GuruFocus rated Genuine Parts
Company the business predictability rank of 4-star.
Sold Out: Kraft Foods Inc (
KFT
)
Tweedy Browne sold out their holdings in Kraft Foods Inc. Their
sale prices were between $36.9 and $39.81, with an estimated
average price of $38.46. Kraft Foods, Inc. is the largest branded
food and beverage company headquartered in the U. Kraft Foods Inc
has a market cap of $72.55 billion; its shares were traded at
around $40.95 with a P/E ratio of 17.1 and P/S ratio of 1.3. The
dividend yield of Kraft Foods Inc stocks is 2.8%. Kraft Foods Inc
had an annual average earnings growth of 0.4% over the past 10
years.
Added: Johnson & Johnson (
JNJ
)
Tweedy Browne added to their holdings in Johnson & Johnson by
18.1%. Their purchase prices were between $61.94 and $67.65, with
an estimated average price of $64.35. The impact to their
portfolio due to this purchase was 1.61%. Their holdings were
4,398,798 shares as of 06/30/2012. Johnson & Johnson is
engaged in the manufacture and sale of a broad range of products
in the health care field in many countries of the world. Johnson
& Johnson has a market cap of $188.51 billion; its shares
were traded at around $68.3 with a P/E ratio of 13.6 and P/S
ratio of 2.9. The dividend yield of Johnson & Johnson stocks
is 3.6%. Johnson & Johnson had an annual average earnings
growth of 7.2% over the past 10 years. GuruFocus rated Johnson
& Johnson the business predictability rank of 2.5-star.
Added: Bank Of Ny Mell (
BK
)
Tweedy Browne added to their holdings in Bank Of Ny Mell by
41.69%. Their purchase prices were between $19.51 and $24.35,
with an estimated average price of $21.93. The impact to their
portfolio due to this purchase was 1.03%. Their holdings were
4,583,194 shares as of 06/30/2012. Bank of New York is a bank
holding company and one of the world's larger financial
institutions. Bank Of Ny Mell has a market cap of $26.54 billion;
its shares were traded at around $22.13 with a P/E ratio of 10.6
and P/S ratio of 1.8. The dividend yield of Bank Of Ny Mell
stocks is 2.3%.
Added: Cisco Systems, Inc. (
CSCO
)
Tweedy Browne added to their holdings in Cisco Systems, Inc. by
22.29%. Their purchase prices were between $15.99 and $21.18,
with an estimated average price of $18.06. The impact to their
portfolio due to this purchase was 0.46%. Their holdings were
4,148,134 shares as of 06/30/2012. Cisco Systems, Inc. is the
worldwide leader in networking for the Internet. Cisco Systems,
Inc. has a market cap of $93.94 billion; its shares were traded
at around $17.31 with a P/E ratio of 11.1 and P/S ratio of 2.2.
The dividend yield of Cisco Systems, Inc. stocks is 1.8%. Cisco
Systems, Inc. had an annual average earnings growth of 19.4% over
the past 10 years. GuruFocus rated Cisco Systems, Inc. the
business predictability rank of 2.5-star.
Added: Conocophillips (
COP
)
Tweedy Browne added to their holdings in Conocophillips by 6.06%.
Their purchase prices were between $51.11 and $76.47, with an
estimated average price of $59.94. The impact to their portfolio
due to this purchase was 0.33%. Their holdings were 2,888,805
shares as of 06/30/2012. ConocoPhillips is a major international
integrated energy company with operations in some 49 countries.
Conocophillips has a market cap of $72.43 billion; its shares
were traded at around $57.15 with a P/E ratio of 7.4 and P/S
ratio of 0.3. The dividend yield of Conocophillips stocks is
4.6%. Conocophillips had an annual average earnings growth of
18.7% over the past 10 years.
Added: Sysco Corporation (SYY)
Tweedy Browne added to their holdings in Sysco Corporation by
10.64%. Their purchase prices were between $27.28 and $29.94,
with an estimated average price of $28.61. The impact to their
portfolio due to this purchase was 0.16%. Their holdings were
1,580,888 shares as of 06/30/2012. Sysco Corporation is the
largest North American distributor of food and food related
products to the foodservice or `food-prepared-away-from-home`
industry. Sysco Corporation has a market cap of $16.89 billion;
its shares were traded at around $29.99 with a P/E ratio of 13.9
and P/S ratio of 0.4. The dividend yield of Sysco Corporation
stocks is 3.7%. Sysco Corporation had an annual average earnings
growth of 7.7% over the past 10 years. GuruFocus rated Sysco
Corporation the business predictability rank of 4-star.
Added: Total S.a. (adr) (TOT)
Tweedy Browne added to their holdings in Total S.a. (adr) by
24.83%. Their purchase prices were between $42.14 and $51.77,
with an estimated average price of $45.71. The impact to their
portfolio due to this purchase was 0.14%. Their holdings were
443,893 shares as of 06/30/2012. Total Fina SA engages in
worldwide oil and gas production, other upstream, RM&T and an
expanding multi-national specialty chemicals business. Total S.a.
(adr) has a market cap of $116.6 billion; its shares were traded
at around $49.04 with a P/E ratio of 7.3 and P/S ratio of 0.5.
The dividend yield of Total S.a. (adr) stocks is 5.1%. Total S.a.
(adr) had an annual average earnings growth of 12.1% over the
past 10 years. GuruFocus rated Total S.a. (adr) the business
predictability rank of 4-star.
Reduced: Philip Morris International Inc. (
PM
)
Tweedy Browne reduced to their holdings in Philip Morris
International Inc. by 22.69%. Their sale prices were between
$81.29 and $90.44, with an estimated average price of $86.48. The
impact to their portfolio due to this sale was -2.86%. Tweedy
Browne still held 3,206,793 shares as of 06/30/2012. Philip
Morris International is the international tobacco company, with
products sold in over 160 countries. Philip Morris International
Inc. has a market cap of $157.27 billion; its shares were traded
at around $92.315 with a P/E ratio of 18.2 and P/S ratio of 2.1.
The dividend yield of Philip Morris International Inc. stocks is
3.3%.
Reduced: Coca-cola Femsa, S.a.b. De C.v. (adr)
(KOF)
Tweedy Browne reduced to their holdings in Coca-cola Femsa,
S.a.b. De C.v. (adr) by 33.12%. Their sale prices were between
$102.79 and $127.82, with an estimated average price of $111.6.
The impact to their portfolio due to this sale was -1.59%. Tweedy
Browne still held 877,285 shares as of 06/30/2012. Coca-Cola
Femsa S.A., through its subsidiaries, produces, markets and
distributes soft drinks throughout the metropolitan area of
Mexico City, in Southeastern Mexico and in metropolitan Buenos
Aires, Argentina. Coca-cola Femsa, S.a.b. De C.v. (adr) has a
market cap of $21.46 billion; its shares were traded at around
$115.29 with a P/E ratio of 27.5 and P/S ratio of 2.2. The
dividend yield of Coca-cola Femsa, S.a.b. De C.v. (adr) stocks is
1.7%. Coca-cola Femsa, S.a.b. De C.v. (adr) had an annual average
earnings growth of 12.1% over the past 10 years. GuruFocus rated
Coca-cola Femsa, S.a.b. De C.v. (adr) the business predictability
rank of 3.5-star.
Reduced: Federated Investors Inc (FII)
Tweedy Browne reduced to their holdings in Federated Investors
Inc by 47.22%. Their sale prices were between $18.81 and $22.76,
with an estimated average price of $20.9. The impact to their
portfolio due to this sale was -0.05%. Tweedy Browne still held
77,006 shares as of 06/30/2012. Federated Investors, Inc. is a
provider of investment management and related financial services.
Federated Investors Inc has a market cap of $2.14 billion; its
shares were traded at around $20.42 with a P/E ratio of 13.4 and
P/S ratio of 2.4. The dividend yield of Federated Investors Inc
stocks is 4.7%.
Here is the complete portfolio of Tweedy Browne. Also check out
the Undervalued Stocks, Top Growth Companies, and High Yield
stocks of Tweedy Browne.About GuruFocus: GuruFocus.com tracks the
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