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In Good Company – Which Stocks Have The JSE’s Biggest Shareholders Been Buying – Moneyweb.co.za

By Patrick Cairns | September 7, 2016

CAPE TOWN – Naspers may be trading at a price-to-earnings ratio of over 100 times, but big portfolio managers are still climbing in to the stock. According to statistics released by financial software and data company TimbukOne, Naspers was the most popular share amongst the JSE’s 100 biggest shareholders during July and August.

The data shows which counters the 100 biggest shareholders on the JSE by portfolio size bought and sold most of during these two months. These entities were net buyers of more than R2.5 billion worth of Naspers stock over this period, which is almost twice as much as the same shareholders bought of the second most popular counter, Steinhof.

The table below shows the 20 most popular companies amongst the JSE’s largest shareholders in July and August:

Company name Net amount bought (in millions)
Naspers R2606
Steinhoff International Holdings R1365
FirstRand R1163
Anheuser-Busch Inbev R1116
Standard Bank R997
Investec Ltd R882
Ascendis Health R837
Tiger Brands R809
Gold Fields R592
Imperial Holdings R588
AngloGold Ashanti R547
Old Mutual R496
BHP Billiton R480
JSE R479
The Foschini Group R437
RMB Holdings R436
Anglo American Platinum R394
Clicks Group R352
Hyprop Investments R332
Woolworths Holdings R331

It is noteworthy that there was significant interest in certain local banking shares, with FirstRand most prominent. Standard Bank and Investec were also heavily bought.

There has been significant volatility in these counters since Nenegate last year and given the continued uncertainty around Treasury and a potential credit downgrade this is likely to remain the case.

These large shareholders were also big buyers of mining stocks. The gold miners Gold Fields and AngloGold Ashanti continued to be popular as their 2016 rally continues. The two shares are up 102% and 131% respectively so far this year. There was also strong buying of Anglo American Platinum and BHP Billiton. Retailers TFG, Clicks and Woolworths also found favour despite growing concerns about local consumer spending. Clicks is also looking rather fully priced on a PE ratio of around 28 times.

Read the full article here - moneyweb.co.za