Steven Cohen, SAC Increase Stake in Annie’s Inc (BNNY)

Steven Cohen of S.A.C Capital Advisors has increased its passive stake in Annie’s Inc (NYSE:BNNY), a recent 13G filing shows. Mr. Cohen raised his holding of Annies to 890,400 shares, up from the previously disclosed 99,000 shares. The current position represents 5.2% of the company’s outstanding common stock.

SAC CAPITAL ADVISORS

Based in Berkeley, California, Annie’s Inc (NYSE:BNNY) is a widely-recognized producer of natural and organic foods, having a dominant share in the North American organic food market. The company went public in late March 2012 at an upwardly revised price of $19.00 per share, approximately half the price at which its shares trade today (March 16, 2014). The company generated steady profits in the past 3 years, with net income of $11.6 million in 2013 and earnings per share of $0.80, slightly more than the expected consensus analyst forecast of $0.79. Currently, Annies Inc (NYSE:BNNY) sells at a trailing P/E of 47.50, significantly higher than the industry average of 15.50. The mean analyst recommendation for the company’s stock is “Hold”.

Dmitry Balyasny‘s Balyasny Asset Management and Jacob Gottlieb‘s Visium Asset Management are two other funds having significant stakes in Annies Inc (NYSE:BNNY), the former holding around 182,000 shares worth $7.85 million and the latter holding around 79,000 shares worth $3.38 million.

S.A.C Capital Advisors is a quite diversified hedge fund, with the largest share of its equity portfolio invested in the Services Sector. Amazon.com, Inc. (NASDAQ:AMZN) and Google Inc (NASDAQ:GOOG) are among the fund’s largest equity investments, with positions of almost 504,000 shares worth $200.87 million and 169,000 shares worth $188.90 million, respectively. Recently, Sac Capital Advisors reported a new stake in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA), with Mr. Cohen holding around 2.90 million shares of the company (5.06% of its common stock).

Disclosure: none

Recommended Readings:

Warren Buffett to Swap Stake in Graham Holdings (GHC)

Billionaire John Paulson and Jacob Gottlieb Boost Their Stakes in Enzymotec Ltd (ENZY)

Michael Novogratz’s Fortress Investment Trims Stake in Cardiome Pharma (CRME)

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. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

The 10 Biggest Tax Havens in the World to Stash Your Money

The 15 Most Murderous Countries in the World

10 Largest Colleges in the World: Bigger Isn’t Always Better

Comedians in Cars Getting Coffee: The 6 Comedians Seinfeld Needs to Interview

Easy Money: The 10 Most Successful Investors in the World Today

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!