Yacktman Asset Management Keeps Betting on Consumer Stocks

Yacktman Asset Management has also reduced its stake in PepsiCo, Inc. (NYSE:PEP) by 12% on the quarter to 22.35 million shares valued at $2.09 billion. The food and beverage company has a market cap of $145.87 billion and its stock advanced by some 5% since the beginning of the year. Recently, PepsiCo, Inc. (NYSE:PEP) posted stronger-than-expected results for the second quarter, with earnings per share of $1.33 p, beating the consensus estimate of $1.24. Similarly, PepsiCo generated $15.9 billion in revenue, versus estimates of $15.8 billion. The snacks business remained the star performer for the period. In addition, the company is heavily relying on its research and development to find out a breakthrough product, which could compensate for ailing carbonated soft drink sales. After Yacktman Asset Management, the second largest shareholder of the company in our database is Trian Partners, managed by Nelson Peltz, which held 18.31 million shares at the end of June.

With a holding of 38.18 million class A shares, valued at $1.24 billion, Twenty-First Century Fox Inc (NASDAQ:FOXA) represented Yacktman’s third-largest position. Twenty-First Century Fox Inc (NASDAQ:FOXA) is a $62.6 billion global media and entertainment company. On August 5, the company declared financial results for three months and full fiscal year 2015 ended June 30, having reported a 9% annual decline in sales to $6.2 billion for the quarter, while quarterly earnings fell by 7% to $0.39 per share. Another shareholder of Twenty-First Century Fox Inc (NASDAQ:FOXA) is Boykin Curry’s Eagle Capital Management, which owns 8.62 million shares as of the end of June, up by 38% on the quarter.

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