Dodge & Cox Lifted Wells Fargo & Co (WFC) Position by $59.70 Million; Stock Declined

May 18, 2018 - By Lynda A. Deweese

Wells Fargo & Company (NYSE:WFC) LogoInvestors sentiment increased to 0.75 in Q4 2017. Its up 0.02, from 0.73 in 2017Q3. It is positive, as 63 investors sold WFC shares while 746 reduced holdings. 138 funds opened positions while 466 raised stakes. 3.64 billion shares or 0.11% less from 3.65 billion shares in 2017Q3 were reported. Texas Permanent School Fund has invested 0.92% in Wells Fargo & Company (NYSE:WFC). Exxonmobil Inv Mgmt Tx owns 704,682 shares. Moreover, North Star Investment has 0.16% invested in Wells Fargo & Company (NYSE:WFC). Abner Herrman & Brock Ltd Company holds 0.16% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 15,800 shares. Blue Fin Capital holds 0.45% or 12,637 shares. Schulhoff And Communication reported 5,223 shares. Cannell Peter B Co has 0.1% invested in Wells Fargo & Company (NYSE:WFC) for 48,466 shares. Halsey Assocs Ct accumulated 9,501 shares or 0.1% of the stock. Haverford Svcs reported 4.63% in Wells Fargo & Company (NYSE:WFC). Jarislowsky Fraser holds 1.12% of its portfolio in Wells Fargo & Company (NYSE:WFC) for 3.17 million shares. Cypress Cap Group stated it has 0.42% of its portfolio in Wells Fargo & Company (NYSE:WFC). Cognios Cap Limited Liability holds 32,601 shares. Twin Mgmt reported 192,220 shares. Ensemble Mngmt Ltd Liability reported 3,600 shares stake. Reinhart Prtn accumulated 9,520 shares or 0.06% of the stock.

Dodge & Cox increased its stake in Wells Fargo & Co (WFC) by 1.43% based on its latest 2017Q4 regulatory filing with the SEC. Dodge & Cox bought 994,937 shares as the company’s stock declined 16.98% with the market. The institutional investor held 70.69 million shares of the major banks company at the end of 2017Q4, valued at $4.29 billion, up from 69.69 million at the end of the previous reported quarter. Dodge & Cox who had been investing in Wells Fargo & Co for a number of months, seems to be bullish on the $262.79 billion market cap company. The stock decreased 0.53% or $0.29 during the last trading session, reaching $53.93. About 7.67M shares traded. Wells Fargo & Company (NYSE:WFC) has declined 7.75% since May 18, 2017 and is downtrending. It has underperformed by 19.30% the S&P500.

Dodge & Cox, which manages about $129.09B US Long portfolio, decreased its stake in Jd.Com Inc (NASDAQ:JD) by 1.90M shares to 27.71M shares, valued at $1.15 billion in 2017Q4, according to the filing. It also reduced its holding in Baidu Inc (NASDAQ:BIDU) by 73,000 shares in the quarter, leaving it with 4.82 million shares, and cut its stake in Vmware Inc (NYSE:VMW).

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: Seekingalpha.com which released: “Wells Fargo: Where Is The Upside?” on May 03, 2018, also 247Wallst.com with their article: “Wells Fargo Settles Federal Claims for $1 Billion” published on April 20, 2018, 247Wallst.com published: “Well Fargo Renews Its Commitment to You After Rip-Offs” on May 09, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: 247Wallst.com and their article: “6 Most Important Things in Business Today” published on April 27, 2018 as well as 247Wallst.com‘s news article titled: “Well Fargo Renews Its Commitment to You After Rip-Offs (Update)” with publication date: May 18, 2018.

Wells Fargo & Company (NYSE:WFC) Ratings Coverage

Among 24 analysts covering Wells Fargo (NYSE:WFC), 13 have Buy rating, 4 Sell and 7 Hold. Therefore 54% are positive. Wells Fargo had 46 analyst reports since December 7, 2017 according to SRatingsIntel. Keefe Bruyette & Woods downgraded Wells Fargo & Company (NYSE:WFC) rating on Monday, February 5. Keefe Bruyette & Woods has “Hold” rating and $63.0 target. Macquarie Research upgraded the shares of WFC in report on Monday, April 30 to “Outperform” rating. The stock of Wells Fargo & Company (NYSE:WFC) earned “Sell” rating by J.P. Morgan on Monday, February 5. Robert W. Baird maintained Wells Fargo & Company (NYSE:WFC) on Monday, February 5 with “Buy” rating. On Friday, April 13 the stock rating was maintained by Susquehanna with “Hold”. The stock of Wells Fargo & Company (NYSE:WFC) earned “Hold” rating by Susquehanna on Sunday, February 4. Keefe Bruyette & Woods maintained the shares of WFC in report on Wednesday, April 4 with “Hold” rating. As per Tuesday, December 12, the company rating was maintained by Keefe Bruyette & Woods. The company was upgraded on Tuesday, January 9 by Sandler O’Neill. The firm has “Hold” rating by BMO Capital Markets given on Friday, April 13.

Wells Fargo & Company (NYSE:WFC) Institutional Positions Chart

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