Barry Rosenstein, Jana Partners, Slightly Trim Their Position in Safeway Inc. (SWY)

Barry Rosenstein‘s fund Jana Partners has slightly reduced its holding in Safeway Inc. (NYSE:SWY). A newly amended filing with the Securities and Exchange Commission, revealed Jana owning around 10.1 million shares of the company, down from some 11.2 million held at the end of September. The stake held by the fund is activist by nature and amasses 4.1% of the company’s common stock. The value of the position amounts to almost $345 million, at the current share price of the company.

Barry Rosenstein JANA PARTNERS

The shares have been sold under Jana’s regular portfolio management activities, the filing stated. The fund also said that it is very supportive of Safeway Inc. (NYSE:SWY)’s latest moves, especially the decision to exit the Chicago market, intentions to review its business to focus on its main operations, and authorization of a large share repurchase plan, among others.

Earlier in October, Safeway Inc. (NYSE:SWY) has raised the repurchase of stock by $2.0 billion. By the end of September, the company had around $0.8 billion under the previous stock repurchase program.  Safeway Inc. (NYSE:SWY) has also completed the sale of its Canada Safeway ULC to Sobeys Inc, which is fully owned by Empire Company Limited. The proceeds from the sale amounted to around $3.7 billion, which will be partially used to reduce the company’s debt and to finance the stock repurchase program.

In September, Jana Partners reported significantly boosting its position in Safeway. The fund increased the holding to almost 15 million shares (including around 3.5 million shares in options).

Aside from Jana Partners, Citadel Investment Group, managed by Ken Griffin also disclosed a big position in Safeway Inc. (NYSE:SWY). The fund reported, in its latest 13F, holding over 9.1 million shares of the company, with a reported value of $292.7 million. Citadel’s holding has been increased by almost 150% during the third quarter.

Disclosure: none

Recommended Reading:

Royce & Associates Discloses Moves in Saga Communications, Inc. (SGA), Anaren, Inc. (ANEN) & Others

PRIMECAP Management Reveals New Position in Ellie Mae Inc (ELLI)

Burgundy Asset Management Dumps Gladstone Investment Corporation (GAIN) Shares

 

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!