In this article, we will look at 5 stocks under $30 in Ken Fisher’s portfolio. If you want to read about Ken Fisher’s investment philosophy and his hedge fund’s performance, you can go to 10 Stocks Under $30 In Ken Fisher’s Portfolio.
5. Cleveland-Cliffs Inc. (NYSE:CLF)
Fisher Asset Management’s Stake Value: $272,245,000
Percentage of Fisher Asset Management’s 13F Portfolio: 0.15%
Number of Hedge Fund Holders: 36
Closing Price on March 16: $26.18
Cleveland-Cliffs Inc. (NYSE:CLF) operates as a mining company in North America. On February 11, 2022, Cleveland-Cliffs Inc. (NYSE:CLF) released its earnings for the fiscal fourth quarter of 2021. The company reported earnings per share of $1.76 and generated revenues of $5.35 billion. The company’s revenue grew by 136.97% year over year from $2.26 billion for the fourth quarter of 2020.
This March, Citi analyst Alexander Hacking raised his price target on Cleveland-Cliffs Inc. (NYSE:CLF) to $28 from $25 and maintained a Neutral rating on the shares.
By the end of the fourth quarter of 2021, 36 hedge funds held positions in Cleveland-Cliffs Inc. (NYSE:CLF) worth $952.78 million in total. This is compared to 35 positions in the previous quarter, with total stakes worth $682.05 million. The hedge fund sentiment for Cleveland-Cliffs Inc. (NYSE:CLF) can be seen to be positive.
4. BP plc (NYSE:BP)
Fisher Asset Management’s Stake Value: $367,145,000
Percentage of Fisher Asset Management’s 13F Portfolio: 0.20%
Number of Hedge Fund Holders: 26
Closing Price on March 16: $28.60
BP plc (NYSE:BP) has been gaining popularity with investors. Insider Monkey identified 26 hedge funds having stakes in BP plc (NYSE:BP) at the close of the fourth quarter of 2021. The total value of these stakes amounted to $1.22 billion, up from $1.05 billion in the previous quarter with 29 positions.
This March, BofA analyst Christopher Kuplent upgraded BP plc (NYSE:BP) to Neutral from Underperform and raised his price target to 410 GBP from 360 GBP.
As of February 2, 2022, Fisher Asset Management’s stakes in BP plc (NYSE:BP) are valued at $367.14 million, making the fund the dominating shareholder in the company. The investment covers 0.20% of the fund’s Q4 investment portfolio.
On February 8, 2022, BP plc (NYSE:BP) released its earnings for the fiscal fourth quarter of 2021 in which the company beat on both EPS and revenue. The company’s earnings per share came to $1.23 for the quarter, beating EPS estimates by $0.09. BP plc (NYSE:BP) generated $50.55 billion in quarterly revenues, up 12.87% year over year, beating estimates by $26.07 billion.
3. Petrobras (NYSE:PBR)
Fisher Asset Management’s Stake Value: $385,003,000
Percentage of Fisher Asset Management’s 13F Portfolio: 0.21%
Number of Hedge Fund Holders: 26
Closing Price on March 16: $13.26
Petrobras (NYSE:PBR) operates as an oil and gas company and is based in Rio de Janeiro, Brazil. In December, Goldman Sachs analyst Bruno Amorim upgraded Petrobras (NYSE:PBR) to Buy from Neutral and gave the stock a $14.20 price target.
This February, Petrobras (NYSE:PBR) announced that its earnings per share for the fiscal fourth quarter of 2021 equaled $0.71, beating estimates by $0.06. The company reported quarterly revenues of $26.22 billion for the quarter, beating revenue estimates by $1.21 billion. As of March 17, 2022, Petrobras (NYSE:PBR) has gained 37.13% over the past six months.
Petrobras (NYSE:PBR) was a part of 26 hedge fund portfolios at the end of the fourth quarter of 2021, up from 23 hedge funds at the end of the third quarter of 2021. The total stakes in the company also saw a rise, from roughly $3.0 billion in Q3 2021 to $3.76 billion at the close of Q4 2021.
2. Infosys Limited (NYSE:INFY)
Fisher Asset Management’s Stake Value: $396,821,000
Percentage of Fisher Asset Management’s 13F Portfolio: 0.22%
Number of Hedge Fund Holders: 27
Closing Price on March 16: $25.11
Infosys Limited (NYSE:INFY) provides consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally. Recently, Infosys Limited (NYSE:INFY) announced that it will be collaborating with Dow Jones to help expand its product portfolio. The tech company will be working on Dow Jones’ products, aiming to organize information in such a way as to optimize daily business operations.
Investors are pouring in investments in Infosys Limited (NYSE:INFY). By the close of Q4 2021, 27 hedge funds held stakes in the company, worth in excess of $2.96 billion. This is compared to 29 hedge funds in the previous quarter, with total stakes equaling $2.47 billion.
This January, BMO Capital analyst Keith Bachman raised his price target on Infosys Limited (NYSE:INFY) to $28 from $25 and reiterated a Market Perform rating on the shares.
Fisher Asset Management’s stakes in the company amounted to $396.82 million at the end of the fourth quarter of 2021. The investment makes up 0.22% of the fund’s 13F portfolio.
1. Vale S.A. (NYSE:VALE)
Fisher Asset Management’s Stake Value: $434,321,000
Percentage of Fisher Asset Management’s 13F Portfolio: 0.24%
Number of Hedge Fund Holders: 25
Closing Price on March 16: $17.76
Vale S.A. (NYSE:VALE) is rising in popularity among investor circles, especially amid the Ukraine crisis when commodity prices are extremely volatile and soaring to new peaks. Insider Monkey spotted Vale S.A. (NYSE:VALE) to be a part of 25 hedge fund portfolios at the close of the fourth quarter of 2021. The total stakes of these funds in the company amounted to $1.71 billion.
Fisher Asset Management is the dominating stakeholder in Vale S.A. (NYSE:VALE) as of the fourth quarter of 2021. The fund’s stake in Vale S.A. (NYSE:VALE) stood at $434.32 million, which represents 0.24% of Fisher Asset Management’s Q4 2021 investment portfolio.
On March 17, 2022, Deutsche Bank analyst Liam Fitzpatrick raised his price target on Vale S.A. (NYSE:VALE) to $20 from $19 and maintained a Buy rating on the shares.
On February 24, 2022, Vale S.A. (NYSE:VALE) announced its fourth-quarter 2021 earnings, in which the company beat EPS by $0.65. The company’s earnings per share were reported to be $1.46, and the company’s revenues amounted to $12.50 billion.
Miller Value Partners mentioned Vale S.A. (NYSE:VALE) in its third-quarter 2021 investor letter. Here’s what the firm had to say:
“Vale (VALE) was the top detractor over the quarter, falling 32.6% in sympathy with iron ore’s 48% decline from record highs on China capacity curbs and growing fears of financial issues within the property sector. Vale reported Q2 EBITDA of $11.24Bn, slightly below consensus of $11.47Bn on higher than expected iron ore cash costs. Free cash flow of $6.5Bn (35% annualized yield) came in well ahead of expectations, driving $2.6Bn of stock buybacks and a 1H21 dividend of $7.6Bn, implying year-to-date (YTD) shareholder returns of roughly $13.8Bn (19% of the current market cap). Management maintained FY21 production guidance for iron ore of 315-335 Metric tons (Mt) and lowered year-end 2022 exit capacity to 370Mt (from 400Mt) due to Northern System licensing delays. Additionally, the company hosted their annual Investor Day, outlining new production initiatives aimed at becoming a key supplier to steelmakers in light of decarbonization goals.”
You can also take a look at Billionaire Ken Fisher’s Top 10 High Dividend Stock Picks and 10 Cheap Oil Stocks Under $10.
