Markets

Brandes Makes a Variety of Reductions in 4th Quarter

Charles Brandes ( Trades , Portfolio ), chairman of Brandes Investment Partners, reduced 89 stakes in his portfolio in the fourth quarter. His most noteworthy reductions crisscrossed the globe and spanned an investing spectrum that included several in oil and gas companies but also touched on banking and financial services and technology stocks.

Brandes made his most significant fourth-quarter reduction in his stake in Embraer SA ( ERJ ), a Brazilian aerospace and defense company. Brandes trimmed his stake by more than 8%, selling 980,533 shares for an average price of $29.38 per share. The transaction had a -0.37% impact on Brandes' portfolio.

Brandes' remaining stake of 11,345,919 shares is 6.16% of Embraer's outstanding shares and 4.92% of Brandes' total assets. Brandes is Embraer's leading shareholder among the gurus.

Embraer has a P/E of 926.3, a forward P/E of 11.8, a P/B of 1.4 and a P/S of 0.9. GuruFocus gives Embraer a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.

Embraer sold for $27.76 per share Thursday.

Brandes slashed his stake in Adecoagro SA ( AGRO ), a South American agricultural company, by more than 54%. Brandes sold 2,647,025 shares for an average price of $10.61 per share. The deal had a -0.31% impact on Brandes' portfolio.

Brandes' stake in Adecoagro is now 2,330,667 shares, which is 1.93% of the company's outstanding shares and 0.42% of Brandes' total assets. George Soros ( Trades , Portfolio ) is Adecoagro's leading shareholder among the gurus with 25,915,076 shares in his portfolio. Soros' stake is 21.41% of Adecoagro's outstanding shares and 3.53% of the guru's total assets.

Adecoagro has a P/E of 370, a forward P/E of 87, a P/B of 2.5 and a P/S of 2.1. GuruFocus gives Adecoagro a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.

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Adecoagro sold for $11.12 per share Thursday.

Brandes trimmed his stake in GlaxoSmithKline PLC ( GSK ), a London-based pharmaceutical company, by nearly 8%. Brandes sold 370,052 shares for an average price of $40.81 per share. The transaction had a -0.21% impact on the guru's portfolio.

Brandes' stake in GlaxoSmithKline is now 4,303,030 shares, which is 0.18% of GlaxoSmithKline's outstanding shares and 2.54% of Brandes' total assets. HOTCHKIS & WILEY is GlaxoSmithKline's leading shareholder among the gurus with a stake of 12,400,884 shares. The stake is 0.51% of GlaxoSmithKline's outstanding shares and 1.91% of the guru's total assets.

GlaxoSmithKline has a P/E of 6.7, a forward P/E of 14.7, a P/B of 12.9 and a P/S of 2.8. GuruFocus gives GlaxoSmithKline a Financial Strength rating of 7/10 and a Profitability and Growth rating of 5/10.

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GlaxoSmithKline sold for $39.30 per share Thursday.

Brandes pared his stake in Petroleo Brasileiro SA Petrobras (NYSE:PBR.A), a Rio de Janeiro-based oil and gas company, by nearly 6%. Brandes sold 3,798,443 shares for an average price of $3.98 per share. The deal had a -0.21% impact on Brandes' portfolio.

Brandes' stake in Petroleo Brasileiro is now 60,012,879 shares, which is 0.92% of

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This article first appeared on GuruFocus .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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