Billionaire Barry Rosenstein’s Top Q4 Moves: Alphabet (GOOG), Bristol-Myers (BMY), More

Page 2 of 2

JANA sold off its entire stake of 5.1 million shares in Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE) during the fourth quarter. On the other hand, Daniel S. Och’s OZ Management initiated a new position in the stock during the quarter, buying 3.63 million shares. JANA Partners held onto its position for only 6 months. During that time, shares of Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE) declined by 12%. However, the stock performance has improved and shares are up by more than 13% since the beginning of 2017. For its fiscal 2016, CCEP expects revenue growth of around 1% and earnings per share growth in the mid-teens. Going forward, the company said that it will focus on brand and package innovation, customer service, and on strengthening its execution. According to our system, 26 hedge funds held 4.8% of the company’s float as of December 31.

Follow Coca Cola Enterprises Inc (NYSE:CCE)

Barry Rosenstein started a new position in Bristol-Myers Squibb Co. (NYSE:BMY) during the December quarter, buying 3.8 million shares worth $226 million at the end of December. In sharp contrast, Julian Robertson’s Tiger Management sold off its entire stake of 400,800 shares in the drug giant by the end of the fourth quarter. The U.S based healthcare company has seen its stock price fall by 6.5% in 2017. Three new independent directors were added to Bristol-Myers’ Board on the recommendation of JANA Partners in February, alongside the company announcing a $2 billion share buyback program. However, its earnings for the fourth quarter came in at just $0.63 per share, falling short of the consensus estimate of $0.67. Though the top-line figure was $5.24 billion, beating the analyst estimate of $5.12 billion, the results were received poorly by the market, outdoing the recent news related to JANA. The number of funds in our system long Bristol-Myers Squibb Co. (NYSE:BMY) inched down by one to 58 during the October-December period.

Follow Bristol Myers Squibb Co (NYSE:BMY)

JANA Partners exited its position in Alphabet Inc. (NASDAQ:GOOG), selling 196,023 Class C shares during the fourth quarter. That comes after JANA had reduced its stake in the company by 317,658 shares during the third quarter. The fund may be ruing its decision, as the stock has shot up by 7.7% so far in 2017. Alphabet Inc. (NASDAQ:GOOG) announced that its smartphone Pixel did incredibly well during the holiday season, selling out a majority of its variants. Alphabet Inc.’s (NASDAQ:GOOG) high-speed internet business, Google Fiber, recently announced major changes, including a new CEO and a new business strategy to focus on providing internet through wireless services. At the end of the fourth quarter, 126 funds in our database held $12.74 billion worth of Alphabet Inc. (NASDAQ:GOOG)’s Class C stock, versus 134 funds at the end of the third quarter.

Follow Alphabet Inc. (NASDAQ:GOOG)

Disclosure: None

Page 2 of 2