Stephen Cohen's SAC Now Holds 5% Stake in Annie's Inc.VW Staff
SAC Capital Advisors, fully owned by Stephen Cohen has acquired a 2% stake, or 336,316 shares, in Annies Inc (NYSE:BNNY). Another company under full control of Stephen Cohen, Sigma Capital L.L.C. has also acquired a stake in Annie’s Inc. of approximately 3.1%, or 524,300 shares. The combined amounts bring Mr. Cohen’s stake in the company to 5%, or 860,616 shares, according to the SEC filing, detailing transactions that took place on July 31.
According to the filing, Mr. Cohen controls SAC Capital Advisors LP, SAC Capital Associates, SAC Capital Advisors Inc., and Sigma Capital L.L.C. However, before this acquisition, neither SAC Capital Advisors LP, Sigma Capital L.L.C, nor Mr. Cohen himself had any voting power.
Further Details indicated on the filing are as follows:
S.A.C. Capital Advisors, L.P. may be deemed to own 336,316 shares, or 2%, with the same voting power, or power to direct the vote. The same value and percentage applies to S.A.C. Capital Advisors, Inc., while Sigma Capital Management, LLC, may be deemed to own 524,300, or 3.1% shares, with the same voting power or power to direct the vote. Finally, Mr. Steven A. cohen, may be deemed to own a combination of the two classes, bringing a total of 860,616 or 5% shares with the same voting power, or power to direct the vote.
Annies Inc (NYSE:BNNY) has 16.94 million shares outstanding, with only 13.70% held by institutions, while insiders own a mere 4.04%. Only 6.15 million or 36.30% of the outstanding shares are floated. Only 18.4 % of those attracted short positions, as at 13th July 2012.
Annie’s Inc. has a profit margin of 6.74% and an operating margin of 13.30%. It reported a net income of $2.37 million for the trailing twelve months, or $0.45 diluted earnings per share (DEPS). It has a market capitalization of $675.78 million intraday.
Annies Inc (NYSE:BNNY), on Wednesday closed at $39.89 per share or $0.86 down from previous close, which is 2.11% decline.