January 24, 2022

CREDIT SUISSE: Hedge funds are dumping these 11 big-name stocks

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By Seth Archer

It’s easy to be distracted by a high market capitalization.

Companies that have worked their way to the top of their fields must have made some right moves along the way.

But past returns are not necessarily indicators of future performance, and the stocks on the following list might be perfect examples of that.

Credit Suisse put together a list of the large-cap stocks that hedge funds are dropping. These are stocks that, in many cases, a lot of funds still own, but that saw a big fall in the number of funds investing in them during the first quarter of this year.

A large number of hedge funds selling a stock could be an indicator of a not-so-bright future for the company. Read through the list below.

Targa Resources (TRGP)
Markets Insider
Current Price: $45.74

2017 performance: -18.4%

Number of hedge funds that dropped the stock: 16

Data provided by Credit Suisse

General Motors (GM)
Markets Insider
Current Price: $34.68

2017 performance: -0.5%

Number of hedge funds that dropped the stock: 16

Data provided by Credit Suisse

Gilead Sciences (GILD)
Markets Insider
Current Price: $65.43

2017 performance: -8.6%

Number of hedge funds that dropped the stock: 16

Data provided by Credit Suisse

United Parcel Service (UPS)
Markets Insider
Current Price: $108.94

2017 performance: -5.0%

Number of hedge funds that dropped the stock: 17

Data provided by Credit Suisse

Reynolds American (RAI)
Markets Insider
Current Price: $64.92

2017 performance: 15.8%

Number of hedge funds that dropped the stock: 20

Click here to learn more about the company…
Data provided by Credit Suisse

Time Warner (TWX)
Markets Insider
Current Price: $99.95

2017 performance: 3.5%

Number of hedge funds that dropped the stock: 21

Data provided by Credit Suisse

Target (TGT)
Markets Insider
Current Price: $57.87

2017 performance: -19.9%

Number of hedge funds that dropped the stock: 24

Data provided by Credit Suisse

General Electric (GE)
Markets Insider
Current Price: $28.94

2017 performance: -8.4%

Number of hedge funds that dropped the stock: 25

Data provided by Credit Suisse

Bristol-Myers Squibb (BMY)
Markets Insider
Current Price: $54.36

2017 performance: -7.0%

Number of hedge funds that dropped the stock: 28

Data provided by Credit Suisse

Mead Johnson Nutrition
Mead Johnson Nutrition
Markets Insider
Current Price: $89.98

2017 performance: 27.2

Number of hedge funds that dropped the stock: 30

Data provided by Credit Suisse

Qualcomm (QCOM)
Markets Insider
Current Price: $57.49

2017 performance: -11.8%

Number of hedge funds that dropped the stock: 32

To learn more about the companies go to web link below.

For more on this story go to: http://www.businessinsider.com/credit-suisse-the-11-big-name-stocks-hedge-funds-are-dumping-2017-6?utm_source=feedburner&amp%3Butm_medium=referral&utm_medium=feed&utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29/#targa-resources-trgp-1

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