GuruFocus Real Time Picks
, here are the most recent Guru reductions of holdings in four
well-known companies. Check out the companies' second quarter 2013
financial results as well as trade details.
First up, the iconic luxury retailer Saks Incorporated (
) has entered into a merger agreement with Hudson's Bay Company (
). The merger is expected to be finalized by the end of the year.
Saks Incorporated (
Up 39% over 12 months, Saks Incorporated has a market cap of $2.41
The current share price is $16.05, and trades with a P/E of 57.40.
In July 2013, Hudson's Bay Company and Saks Incorporated entered
into a definitive merger agreement whereby HBC will acquire Saks
for $16.00 per share in an all-cash transaction valued at
approximately $2.9 billion, including debt. HBC expects to achieve
$100 million (Canadian) of annual synergies within three years.
According to a Saks company press release, the transaction has been
approved by each company's board of directors and is expected to
close before the end of the calendar year.
This transaction is intended to bring together three of the retail
industry's iconic brands - Hudson's Bay, Lord & Taylor and Saks
Fifth Avenue - to create a leading North American retailer
addressing a broad consumer spectrum across the luxury, mid-tier
and outlet retail sectors.
Saks Incorporated was incorporated in 1919 as a luxury retailer
offering a wide assortment of distinctive fashion apparel, shoes,
accessories, jewelry, cosmetics, and gifts. Saks currently operates
46 Saks Fifth Avenue stores and 60 OFF 5TH stores. After the
merger, the combined company will operate 320 stores, including 179
full-line department stores, 72 outlet stores and 69 home stores in
prime retail locations throughout the U.S. and Canada, along with
three e-commerce sites.
As of August 9, 2013,
reduced his position by 97.52%, with current shares of 431,516. He
sold 12,657,009 shares at an average price of $12.87 for a gain of
Hawkins has averaged a gain of 59% on 27,165,415 shares bought at
an average price of $10.09 per share.
AutoNation Inc. (
): Guru Edward Lampert
Up 21% over 12 months, AutoNation has a market cap of $5.83
The current share price is $48.04, and trades with a P/E of 17.30.
AutoNation Inc. was incorporated in 1991 and is the largest
automotive retailer in the U.S.
AutoNation reported that its total retail new vehicle unit sales
total in July 2013 was 25,403, an increase of 17% as compared to
July 2012. Same-store retail new vehicle unit sales in July 2013
were 24,195, an increase of 12% as compared to July 2012.
AutoNation's second quarter 2013 net income from continuing
operations was $90 million, or $0.73 per share, compared to
adjusted net income from continuing operations of $82 million, or
$0.66 per share, for the same period in the prior year, an 11%
improvement on a per-share basis. On a GAAP basis, second quarter
2012 net income from continuing operations was $79 million, or
$0.64 per share. 2013 second quarter revenue totaled $4.4 billion,
compared to $3.9 billion in the year-ago period, an increase of
13%. AutoNation's retail new vehicle unit sales increased 11%
overall and 7% on a same store basis, according to a company press
AutoNation's Mike Jackson, chairman and CEO said, "We delivered
double-digit growth in operating income in the second quarter,
driven by year-over-year gross profit growth in all of our business
As of August 12, 2013, Edward Lampert reduced his position by
1.69%, with current shares of 30,912,671. He sold at an average
price of $47.98.
Lampert has averaged a gain of 199% on 106,989,483 shares bought at
an average price of $16.05 per share.
His trading history shows remarkable gains over the last nine
ITT Educational Services Inc. (
): Guru Richard Blum
Down 11% over 12 months, ITT Educational Services Inc. has a market
cap of $677.8 million.
The current share price is $28.99, and trades with a P/E of 5.80.
Incorporated in 1946, ITT Educational Services Inc. had an annual
average earnings growth of 25.8% over the past 10 years.
The educational company provides post secondary degree programs in
the U.S., offering diploma, associate, bachelor and master degree
ITT Educational Services Inc. reported second quarter 2013
financial results with a 51% decrease in net income over the same
quarter a year ago. The company has an 18.5% decrease in revenue as
well, with $547.6 million in the current quarter compared to $671.6
million in the second quarter of 2012. ITT Educational Services
) reported first quarter 2013 revenues of $287.7 million, down
15.8% from the same quarter one year ago.
As of August 9, 2013, Richard Bum reduced his position by 2.86%,
with current shares of 3,202,944. He sold at an average price of
Blum has averaged a loss of 59% on 4,397,887 shares bought at an
average price of $71.49 per share.
FedEx Corporation (
): Guru Mason Hawkins
Up 24% over 12 months, FedEx has a market cap of $34.38 billion.
The current share price is $108.61, and trades with a P/E of 21.70.
FedEx Corporation was incorporated in 1997. It provides a portfolio
of shipping, transportation, e-commerce and business services.
The company reported second quarter fiscal 2013 financial results
with a slight decrease in net income over the same quarter a year
ago, comparing the reporting quarter of $1.98 billion (non-GAAP) to
$2.09 billion (non-GAPP) in the same quarter of 2012. The company
had a decrease in revenue from $44.3 billion in the reporting
quarter compared to $42.7 billion in the second quarter of fiscal
2012 (both non-GAAP).
As of August 9, 2013, Mason Hawkins reduced his position by 4.76%,
with current shares of 15,807,606. He sold 354,187 shares at an
average price of $97.08 for a gain of 11.9%.
Hawkins has averaged a gain of 27% on 17,746,270 shares bought at
an average price of $85.64 per share.
GuruFocus Real Time Picks
reports the stock purchases and sales that Gurus have made within
the prior 2 weeks. The report time lag can be as short as 2 days
after the date of the transaction. This feature is for Premium
If you are not a Premium Member, we invite you for
7-day Free Trial
About GuruFocus: GuruFocus.com tracks the stocks picks and
portfolio holdings of the world's best investors. This value
investing site offers stock screeners and valuation tools. And
publishes daily articles tracking the latest moves of the world's
best investors. GuruFocus also provides promising stock ideas in 3
monthly newsletters sent to