Third Point reduced its stake in companies such as Hillshire Brands Co (NYSE:HSH) , which has been trading near a 52-week high. The company, the result of a split-up of Sara Lee, describes itself as “a leader in meat-centric food solutions for the retail and foodservice markets,” and encompasses brands such as Jimmy Dean, Ball Park, Hillshire Brands Co (NYSE:HSH) Farm, State Fair, Sara Lee frozen bakery, and Chef Pierre pies. The company has been cutting costs lately, closing some plants, and reducing its workforce. Some think its shares may well plump up, like its hot dogs.
Finally, Third Point’s biggest closed positions included Apple Inc. (NASDAQ:AAPL) and Mondelez International Inc (NASDAQ:MDLZ). Other closed positions of interest include Weatherford International Ltd (NYSE:WFT) , which has been dealing with accounting-related problems. In a recent presentation, though, management noted that its land-based operations, which represent the bulk of its work, have been growing by an annual average of about 16% over the past decade. Its “unconventional” operations, including shale and oil sands, have been growing even more briskly, and the company sees a lot of potential in its operations in China’s promising shale gas arena. Still, despite robust revenue growth and plenty of fans, its net income and free cash flow have both dipped into negative territory, while debt has been growing.
We should never blindly copy any investor’s moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing. Therefore, 13-F forms can be great places to find intriguing candidates for our portfolios.
The article Here’s What This 1,022% Gainer Has Been Buying originally appeared on Fool.com is written by Selena Maranjian.
Longtime Fool contributor Selena Maranjian owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple and has the following options: Long Jan 2014 $50 Calls on Herbalife Ltd. (NYSE:HLF).
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