New Changes in SAC Capital’s 13F Portfolio: Annies Inc (BNNY), Cytokinetics, Inc. (CYTK) And Other

In another round of filings with the Securities and Exchange Commission, Steven Cohen and his fund, SAC Capital Advisors, have disclosed 4 new moves: reductions in the ownership of Annies Inc (NYSE:BNNY) and American Woodmark Corporation (NASDAQ:AMWD), an increase in the holding of Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) and a new position - Cytokinetics, Inc. (NASDAQ:CYTK).

Steven Cohen

Cohen has reduced his fund’s stake in Annies Inc (NYSE:BNNY) to 890,400 shares or 5.2% of the total number of shares outstanding. Ken Griffin, on the other hand, is bullish on this stock, having increased his fund’s stake by 900% in the Q4 of 2013. The company engages in the production and distribution of natural and organic food products. It has a market cap of $647 million and does not pay a dividend. The stock is traded at a Price to Earnings (P/E) ratio of 45.xx, almost three times the industry average of 15.40. The stock has been in a downtrend since October 2013 and has depreciated by approximately 12% so far this year to a current price of $37.94 per share.

Another reduction, albeit a small one, is American Woodmark Corporation (NASDAQ:AMWD). SAC has slightly reduced its position to 1.04 million shares, which account for 6.7% of the company’s common stock. Chuck Royce, the manager of Royce & Associates, also slightly reduced his fund stake to approximately 594,400 shares valued at $23.5 million. The company has recently announced its financial performance for the three months ending January 31, 2014: $169 million in revenues and earnings of $0.18 per share. Analysts expect the company to post revenues of $187 million and earnings per share (EPS) of $0.4 for the current quarter.

Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) ended up on the Cohen’s buy list, with SAC Capital reporting an increase by almost 500,000 shares of its position, taking it to 1.69 million shares or 5.2% of the company’s common stock. D. E. Shaw is also bullish and has increased his fund’s stake by 39% during the last quarter of 2013. The company has a market cap of $553 million and pays an annual dividend of $0.6, yielding 3.5%. The stock is traded at a trailing P/E ratio of 21.xx, which is pretty much inline with the industry average of 20.00. For the three months ending December 31, 2013, Silicon Motion Technology posted revenues of $52.5 million and EPS of $0.16.

Steven Cohen has recently started a new position in Cytokinetics, Inc. (NASDAQ:CYTK). Together with SAC Capital, Cohen holds a little over 2 million shares, which account for 5.5% of the total number of shares outstanding. Jim Simmons seems to share Cohen’s outlook for this company, having himself initiated a new position. This biopharmaceutical company has a market cap of $344 million and does not pay a dividend. So far this year, the stock has advanced 47% to a current price of $9.55 per share. Cytokinetics announced revenues of $24.3 million and earnings of $0.22 per share for the 2013 fourth quarter. 2014 first quarter is expected to bring revenues of $7.69 million and a loss per share of $0.35.

Disclosure: none.

Recommended reading:

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