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Here’s Why ClearBridge Sold its Anheuser-Busch InBev (BUD) Shares

·2 min read

ClearBridge Investments, an investment management firm, published its “Large Cap Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Growth Strategy underperformed its Russell 1000 Growth Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains across seven of the eight sectors in which it was invested (out of 11 sectors total). The leading contributors to performance were in the IT and health care sectors, while the communication services sector was a detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Large Cap Growth Strategy, in its Q4 2021 investor letter, mentioned Anheuser-Busch InBev SA/NV (NYSE:BUD) and discussed its stance on the firm. Founded in 2008, Anheuser-Busch InBev SA/NV (NYSE:BUD) is a Leuven, Belgium-based American brewing company with a $121.3 billion market capitalization, and is currently spearheaded by its CEO, Michel Doukeris. Anheuser-Busch InBev SA/NV (NYSE:BUD) delivered a -23.60% return since the beginning of the year, while its 12-month returns are down by -16.82%. The stock closed at $59.75 per share on April 07, 2022.

Here is what ClearBridge Investments Large Cap Growth Strategy has to say about Anheuser-Busch InBev SA/NV (NYSE:BUD) in its Q4 2021 investor letter:

"To make room for these new names and optimize the growth profile of the Strategy, we exited two additional positions during the quarter. We sold out of Anheuser-Busch InBev as we see too much work ahead for the world’s largest beer maker to re-ignite sales growth post COVID-19. While the company should benefit from a recovery in the on-premise channel, individual country complexities, the hedging of raw materials, and senior management turnover leave us more confident in the Strategy’s other reopening-related holdings."

Pixabay/Public Domain

Our calculations show that Anheuser-Busch InBev SA/NV (NYSE:BUD) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Anheuser-Busch InBev SA/NV (NYSE:BUD) was in 17 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 11 funds in the previous quarter. Anheuser-Busch InBev SA/NV (NYSE:BUD) delivered a -23.33% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on Anheuser-Busch InBev SA/NV (NYSE:BUD) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.