As Brown Forman (BF.B) Stock Price Were Volatile, Alliancebernstein LP Has Increased Holding by $632,808; Veritas Investment Management Uk LTD Boosted Its Laboratory America Holdings (LH) Stake

May 20, 2018 - By Richard Conner

Laboratory Corporation of America Holdings (NYSE:LH) Logo

Alliancebernstein Lp increased its stake in Brown Forman Corp (BF.B) by 2.8% based on its latest 2017Q4 regulatory filing with the SEC. Alliancebernstein Lp bought 9,306 shares as the company’s stock 0.00% . The hedge fund held 341,220 shares of the company at the end of 2017Q4, valued at $23.43M, up from 331,914 at the end of the previous reported quarter. Alliancebernstein Lp who had been investing in Brown Forman Corp for a number of months, seems to be bullish on the $27.53B market cap company. The stock increased 0.51% or $0.3 during the last trading session, reaching $59.22. About 748,984 shares traded. Brown-Forman Corporation (NYSE:BF.B) has risen 42.28% since May 20, 2017 and is uptrending. It has outperformed by 30.73% the S&P500.

Veritas Investment Management Uk Ltd increased its stake in Laboratory Corp America Holdings (LH) by 5.35% based on its latest 2017Q4 regulatory filing with the SEC. Veritas Investment Management Uk Ltd bought 3,610 shares as the company’s stock rose 1.25% while stock markets declined. The institutional investor held 71,143 shares of the medical specialities company at the end of 2017Q4, valued at $11.35M, up from 67,533 at the end of the previous reported quarter. Veritas Investment Management Uk Ltd who had been investing in Laboratory Corp America Holdings for a number of months, seems to be bullish on the $18.03 billion market cap company. The stock decreased 0.05% or $0.09 during the last trading session, reaching $176.21. About 1.22 million shares traded or 74.13% up from the average. Laboratory Corporation of America Holdings (NYSE:LH) has risen 14.17% since May 20, 2017 and is uptrending. It has outperformed by 2.62% the S&P500.

Among 12 analysts covering Brown-Forman (NYSE:BF.B), 1 have Buy rating, 2 Sell and 9 Hold. Therefore 8% are positive. Brown-Forman had 42 analyst reports since July 21, 2015 according to SRatingsIntel. Cowen & Co maintained Brown-Forman Corporation (NYSE:BF.B) rating on Tuesday, August 22. Cowen & Co has “Hold” rating and $52.0 target. On Wednesday, March 7 the stock rating was maintained by Stifel Nicolaus with “Hold”. As per Thursday, December 8, the company rating was maintained by Stifel Nicolaus. SunTrust maintained the shares of BF.B in report on Thursday, October 5 with “Hold” rating. As per Thursday, December 22, the company rating was downgraded by Suntrust Robinson. The firm has “Hold” rating by Cowen & Co given on Wednesday, December 6. RBC Capital Markets maintained the shares of BF.B in report on Tuesday, May 23 with “Hold” rating. Pivotal Research upgraded Brown-Forman Corporation (NYSE:BF.B) rating on Wednesday, March 7. Pivotal Research has “Buy” rating and $65.0 target. RBC Capital Markets maintained it with “Hold” rating and $5100 target in Tuesday, July 25 report. Sterne Agee CRT downgraded the shares of BF.B in report on Friday, February 26 to “Neutral” rating.

Alliancebernstein Lp, which manages about $139.80 billion US Long portfolio, decreased its stake in Textron Inc (NYSE:TXT) by 16,394 shares to 470,787 shares, valued at $26.64 million in 2017Q4, according to the filing. It also reduced its holding in Wiley John & Sons Inc (NYSE:JW.A) by 7,880 shares in the quarter, leaving it with 26,011 shares, and cut its stake in Vonage Hldgs Corp (NYSE:VG).

Veritas Investment Management Uk Ltd, which manages about $271.02 million US Long portfolio, decreased its stake in Taiwan Semiconductor (NYSE:TSM) by 26,141 shares to 440,849 shares, valued at $17.48 million in 2017Q4, according to the filing. It also reduced its holding in Philip Morris Intl (NYSE:PM) by 4,000 shares in the quarter, leaving it with 9,775 shares, and cut its stake in Accenture ‘A’ (NYSE:ACN).

Since February 7, 2018, it had 0 insider buys, and 5 insider sales for $18.70 million activity. 49,967 shares were sold by KING DAVID P, worth $8.23 million on Friday, March 23. Schechter Adam H had sold 1,263 shares worth $213,813 on Wednesday, February 7. Another trade for 8,400 shares valued at $1.41M was sold by EISENBERG GLENN A.

Among 20 analysts covering Laboratory Corp (NYSE:LH), 14 have Buy rating, 0 Sell and 6 Hold. Therefore 70% are positive. Laboratory Corp had 65 analyst reports since July 29, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Monday, December 11 by Credit Suisse. As per Tuesday, September 12, the company rating was maintained by Jefferies. The firm has “Hold” rating by Mizuho given on Friday, December 1. As per Wednesday, July 12, the company rating was downgraded by Credit Suisse. RBC Capital Markets maintained Laboratory Corporation of America Holdings (NYSE:LH) rating on Friday, February 19. RBC Capital Markets has “Sector Perform” rating and $130 target. The stock of Laboratory Corporation of America Holdings (NYSE:LH) has “Neutral” rating given on Friday, February 9 by Citigroup. The company was maintained on Monday, October 16 by Piper Jaffray. The rating was maintained by Piper Jaffray with “Buy” on Monday, September 4. The rating was maintained by Barclays Capital with “Overweight” on Tuesday, April 26. Canaccord Genuity maintained the shares of LH in report on Monday, September 11 with “Buy” rating.

Laboratory Corporation of America Holdings (NYSE:LH) Institutional Positions Chart

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