P2 Capital Reduces Stake in UTi Worldwide Inc. (UTIW), While Eminence Capital and Point72 Load Up On These 2 Stocks

In Northstar Realty Europe Corp (NYSE:NRE), Point72 disclosed a 5.0% ownership stake, containing 3.17 million shares. The stake is passive by nature. Recently, NorthStar Realty Finance Corp. (NYSE:NRF) announced the completion of the spin-off of NorthStar Realty Europe Corp. (NRE), the company’s European real estate business. Northstar Realty Europe Corp (NYSE:NRE) started trading on the NYSE on November 2. Point72 Asset Management is a family office that manages the assets of its founder, Steven A. Cohen, and other eligible employees. Point72 is considered the descendant of SAC Capital Advisors, Cohen’s hedge fund that stopped managing money for outside investors in early 2014. Cohen’s long/short investment firm oversees a public equity portfolio worth $12.74 billion as of September 30.

In a new filing, Eminence Capital disclosed increasing its passive stake in Keurig Green Mountain Inc (NASDAQ:GMCR) to 10.66 million shares from 3.72 million shares held by the fund at the end of the third quarter. The stake represents 7.2% of the company’s common stock. Keurig Green Mountain Inc (NASDAQ:GMCR) is a $7.6-billion personal beverage system company, which reported a drop in fourth-quarter profit for fiscal year 2015, to $94.6 million, versus $141.1 million in the same period of the 2014 fiscal year. Likewise, the company’s quarterly sales fell to $1.04 billion, versus $1.20 billion a year earlier. These results have understandably had a negative effect on the stock, which has dropped by 60.42% year-to-date.

A total of 16 hedge funds in our database were holding Keurig Green Mountain in their portfolios at the end of the third quarter, a significant decrease from 29 funds at the end of the second quarter. On the other hand, the aggregate value of hedge funds’ investments was $466.17 million at the end of September, down only slightly from $506.89 million at the end of the second quarter. Among the largest shareholders of Keurig Green Mountain are Legg Mason Capital Management, now a part of ClearBridge, and Joel Greenblatt’s Gotham Asset Management, holding 1.58 million shares and 603,320 shares, respectively.

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