Discretionary Stocks Boost the Wells Fargo Growth Fund in YTD 2016
Early 2016 was not generous to the Wells Fargo Growth Fund – Class A (SGRAX), and the fund was a below-average performer until May. However, things have improved since then.
How the Consumer Discretionary Sector Has Affected SGRAX in 2016
The Wells Fargo Growth Fund Class A (SGRAX) had fallen by 1% year-to-date (or YTD) in 2016 as of May 27, 2016.
How Does Patterson Companies Compare to Its Peers?
The respective PE ratios of Patterson Companies and peers Henry Schein, DENTSPLY International, and VCA are 23.6x, 27.1x, 31.5x, and 25.9x as of November 24.
Eminence Capital lowers stake in VCA Antech, Inc.
Eminence Capital lowered its position in VCA (WOOF) during 3Q14. The stock accounts for 1.95% of the total portfolio—down from 3.01% of the fund’s 2Q14 portfolio.
Eminence Capital lowers stake in Kar Auction Services Inc.
Eminence Capital lowered its position in Kar Auction Services (KAR) during 3Q14. The stock accounts for 1.57% of the total portfolio—down from 2.88% of the fund’s 2Q14 portfolio.
Why Glenview Capital increases position in Flextronics
Glenview Capital upped its position in Flextronics International (FLEX). Currently, the position accounts for 4.50% of the fund’s 2Q14 portfolio—up from 3.64% in the 1Q14 portfolio. Flextronics provides advanced design, manufacturing, and services to original electronic product equipment manufacturers (or OEMs). It’s one of the world’s largest providers of global supply chain solutions.
Must-know: Glenview Capital ups position in VCA
Glenview Capital upped its position in VCA Inc. (WOOF). VCA was earlier known as VCA Antech. Currently, the position accounts for 1.79% of the fund’s 2Q14 portfolio—up from 0.32% of the 1Q14 portfolio. A 13G filing at the end of August revealed that Glenview increased its stake in VCA from 8.7 million shares at the end of 2Q14. Currently, it owns 14.85% of the company with ~12.8 million shares.
Glenview Capital starts a new position in Brookdale Senior Living
Glenview Capital disclosed a new position in Brookdale Senior Living (BKD) that accounts for 0.77% of the fund’s 2Q14 portfolio. Brookdale Senior Living Inc. is a leading owner and operator of senior living communities throughout the United States. It owns, leases, and operates retirement centers, assisted living and dementia-care communities, and continuing care retirement centers (or CCRCs).
Glenview Capital starts new position in Cadence Design Systems
Glenview Capital disclosed a new position in Cadence Design Systems (CDNS) that accounts for 1.21% of the fund’s 2Q14 portfolio. Cadence Design Systems is based in San Jose, California. It develops solutions for its customers to design increasingly small and complex integrated circuits (or ICs) and electronic devices.
Must-know: Glenview Capital Management’s 2Q14 positions
Larry Robbins’ Glenview Capital Management delivers attractive absolute returns through fundamental research and individual security selection. The size of Glenview’s portfolio increased from $15.2 billion in 1Q14 to $17.2 billion last quarter.
Must-know: An overview of PetSmart’s businesses
Based on 2013 net sales of $6.9 billion, PetSmart is North America’s leading specialty provider of products, services, and solutions for the lifetime needs of pets.