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Yacktman Ups Stake In Ebay, Cisco, PepsiCo; Dumps Dell, Janus, Pfizer

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Yacktman Asset Management, the investment management firm headed by Donald Yacktman, disclosed that the market value of its equity portfolio increased to $24,371,715,000 in the fourth quarter of 2013 based on its latest 13F filing with the Securities and Exchange Commission (SEC). During the previous quarter, its total assets under management (AUM) were $22,420,431,000.

During the quarter, Yacktman Asset Management purchased one stock, increased its position in 14 stocks, reduced its stake in 28 equities, and sold out its entire stockholdings in 3 companies.

Yacktman’s top five positions

The investment management firms’ five largest positions include PepsiCo, Inc. (NYSE:PEP) representing 10.86% of its portfolio followed by Twenty-First Century Fox Inc (NASDAQ:FOXA) 9%, The Procter & Gamble Company (NYSE:PG) 8.62%, The Coca-Cola Company (NYSE:KO) 7.33%, and Cisco Systems, Inc. (NASDAQ:CSCO) 5.75%.

New position

During the period, Yacktman Asset Management purchased 1,870 shares of SPDR S&P 500 ETF Trust (NYSEARCA:SPY) worth $345,000.

Increased positions

The Investment management firm is bullish on eBay Inc (NASDAQ:EBAY) as it increased its position in the company by 479% or 6,834,107 shares bringing its stake to 8,259,109 shares with a market value of approximately $453.34 million.

Yacktman Asset Management increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 24% or 12,182,155 shares bringing its total stake in the company to 62,455,320 shares worth approximately $1.79 billion.

Cisco recently reported better-than-expected second quarter financial results. The company posted $0.47 non-GAAP earnings per share on $11.2 billion revenue, higher than the $0.46 earnings per share on $11.03 billion revenue average estimate of analysts. Over the past 52 weeks, the stock price of Cisco Systems, Inc. (NASDAQ:CSCO) climbed from $19.98 per share to $26.49 a share. The stock is trading around $22.59 a share on Friday mid-afternoon trading.

The investment management firm also added its position in PepsiCo, Inc. (NYSE:PEP) by 14% or 3,962,128 shares to 31,899,219 shares. Its stake in the beverage and food snacks maker is worth approximately $2.65 billion.

The company recently reported financial results of $1.12 earnings per share in $20.1 billion revenue for the fourth quarter. Its earnings were higher than the $1.03 consensus estimate of analysts, but its revenue was slightly lower than the $20.2 billion average estimate.

In addition, the management of the company rejected the proposal of activist investor Nelson Peltz to spin off its North-American beverage unit. PepsiCo CEO Indra Nooyi said, “Decoupling our beverage and snack businesses in North America would significantly reduce our relevance to our customers.”

Yacktman Asset Management also increased its stockholdings in Oracle Corporation (NYSE:ORCL) by 3,466,132 shares to 27,883,057 shares worth more than $1.06 billion, and The Coca-Cola Company (NYSE:KO) by 3,426,639 shares to 43,243,371 shares worth approximately $1.79 billion.

Yacktman’s Reduced & sold out positions

During the quarter, Yacktman Asset Management reduced its position in C.R. Bard, Inc. (NYSE:BCR) by 2,118,660 shares bringing its stake down to 7,755,464 shares. The investment management firm also cut its stake in Twenty-First Century Fox Inc (NYSE:FOXA) by 8,381,996 shares down to 62,371,951 shares; Microsoft Corporation (NASDAQ:MSFT) by 1,529,061 shares down to 34,218,647 shares; News Corp (NASDAQ:NWSA) by 9,835,727 shares down to 2,520,074 shares.

The investment management firm sold out its entire 21,094,431 shares in Dell Inc. (NASDAQ:DELL), 4,705,000 shares in Janus Capital Group Inc (NYSE:JNS), and 41,700 shares in Pfizer Inc. (NYSE:PFE).

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