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

 

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

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!