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Operational Activist Investor Nelson Peltz Builds A Stake In P.F. Changs (PFCB)
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The investment arm controlled by activist investor Nelson Peltz has built a stake of 1.06 million shares in P.F. Chang's China Bistro (Nasdaq: PFCB).
Nelson Peltz focuses on investing in retail operations where he thinks his expertise can make a difference. Peltz looks for strong cash flows and doesn't mind if the stock falls in the near-term, as it gives him an opportunity to load up on more shares.
In an interview with Fortune magazine, Peltz said his best advice he ever received was from his father, who said, "Get sales up, and keep expenses down." Peltz did that with Snapple in '97, which allowed Snapple's margins to expand and return to its glory days.
Peltz has investments in not only P.F. Chang's China Bistro in the restaurant sector, but a couple others include: Cheesecake Factory (Nasdaq: CAKE) and Wendy's (NYSE: WEN).
In summary, I believe Peltz invested in P.F. Changs because he sees a brand that signifies high-quality and is trading at a large discount to its intrinsic value.
Although the road may be bumpy, I'd highly consider following Peltz into P.F. Chang's China Bistro on any decent pullback.
-Guy Baron
P.F. Chang’s China Bistro is an owner and operates three restaurant concepts in the Asia: P.F. Chang’s China Bistro, Pei Wei Asian Diner (Pei Wei) and Taneko Japanese Tavern (Taneko).
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