Barry Rosenstein’s JANA Partners Added These Five Stocks to Its Portfolio in Q2

Harris Corporation (NYSE:HRS)

– Shares Owned by Jana Partners (as of June 30): 2.2 million

– Value of Jana Partners holding (as of June 30): $183.57 million

Technology solution provider Harris Corporation (NYSE:HRS) was the third stock, in which JANA initiated a stake during the second quarter. The fund acquired 2.2 million shares worth $183.57 million during the second quarter. The company reported fiscal fourth quarter revenue of some $1.9 billion, missing estimates by $40 million, but EPS of $1.45 beat expectations marginally, by $0.01. Harris also provided 2017 EPS guidance in the range of $5.70 to $5.90, while the revenue is expected to be in between $7.11 billion and $7.33 billion. Harris Corporation (NYSE:HRS)’s stock is up by 6% year-to-date. A total of 21 funds in our database held shares of Harris Corporation (NYSE:HRS) at the end of June.

Pinnacle Foods Inc (NYSE:PF)

– Shares Owned by Jana Partners (as of June 30): 3.93 million

– Value of Jana Partners holding (as of June 30): $181.74 million

Branded food maker and distributor Pinnacle Foods Inc (NYSE:PF) represents another new position in JANA’s equity portfolio. The fund acquired 3.93 million shares whose value at the end of second quarter was $181.74 million. The company recently has announced that it will be closing an Evol plant in Boulder, Colorado, due to its small size and lack of required capacity. Instead, Pinnacle Foods will be shifting to a new facility in Fayetteville, Arkansas. The company’s Evol brand includes frozen meals and snacks, which Pinnacle Foods Inc (NYSE:PF) acquired at the beginning of this year. The number of funds from our database with holdings in Pinnacle Foods declined to 33 at the end of the second quarter, from 36 a quarter earlier.

Willis Towers Watson PLC (NASDAQ:WLTW)

– Shares Owned by Jana Partners (as of June 30): 1.32 million

– Value of Jana Partners holding (as of June 30): $163.90 million

In Willis Towers Watson PLC (NASDAQ:WLTW), a global advisory, broking and solutions company, JANA Partners acquired 1.32 million shares valued at $163.90 million at the end of the second quarter. Willis Towers Watson PLC (NASDAQ:WLTW) reported second-quarter revenue of $1.98 billion, which missed analyst estimates by $10 million, while EPS of $1.66 topped the consensus estimate of $1.65. The company expects revenue growth of 7% in 2016, while diluted EPS is estimated between $2.48 and $2.68. Out of the total funds tracked by our team, 39 funds hold long position in Willis Towers Watson with a total value of $3.43 billion as of the end of June.

Disclosure: None