Does Adage Capital’s New Move in Slumping Anixter International Inc. (AXE) Signal Turnaround Potential?

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Adage increased its holding in Walt Disney Co (NYSE:DIS) by 14% during the first quarter to 2.35 million shares valued at $246.06 million. The $186.56 billion entertainment and media enterprise beat both the top and bottom line estimates in its latest quarterly financial results. So far this year, Walt Disney Co (NYSE:DIS)’s stock has appreciated by 16.73%. The stake represented 0.6% of the fund’s portfolio value. Ken Fisher‘s Fisher Asset Management is the largest shareholder of Walt Disney Co (NYSE:DIS), holding some 8.40 million shares valued at $881.32 million.

During the first quarter, Adage inched up its holding in Home Depot Inc (NYSE:HD) by 1% to lift the total stake to 2.03 million shares valued at $230.96 million. The 5.36% rise of Home Depot Inc (NYSE:HD)’s stock on a year-to-date basis is a little higher than the home improvement stores industry as a whole, which is up by 4.34% during the same period. Among the billionaires that we track, eight had a total investment of $1.64 billion in Home Depot Inc (NYSE:HD) at the end of March. Ken Griffin is one of them, with his managed futures fund, Citadel Investment Group holding 986,450 shares valued at $112.07 million.

Adage’s holding in the $115.34 billion pharmacy company, CVS Health Corp (NYSE:CVS), saw a boost of 11% during the first three months of the year. The stake now consists of some 2.11 million shares valued at $218 million. The company’s stock is up by a modest 6.14% year-to-date. The interest of hedge funds in CVS Health Corp (NYSE:CVS) rose during the first quarter as 59 firms had an aggregate investment of $2.49 billion in the company at the end of March, as compared with 53 funds with $2.34 billion at the end of the previous quarter. Robert Rodriquez and Steven Romick’s First Pacific Advisors is the largest stockholder of CVS Health Corp (NYSE:CVS) in our database, as it holds 4.63 million shares valued at $477.81 million.

Disclosure: None

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