First Eagle Investments is an independent, privately owned asset management firm dedicated to serving the needs of individuals and institutions worldwide as well as the financial professionals that advise them. Recently, the fund published its "First Eagle Investments Overseas Fund" second-quarter 2022 investor letter – a copy of which can be downloaded here. Overseas Fund A Shares, without a sales charge, posted a return of -9.05% in the second quarter of 2022. All regions detracted from performance, with notable weakness in developed Europe. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, First Eagle Investments Overseas Fund mentioned Danone S.A. (NYSE:DANOY) and explained its insights into the company. Founded in 1919, Danone S.A. (NYSE:DANOY) is a Paris, France-based multinational food-products corporation with a $32.3 billion market capitalization. Danone S.A. (NYSE:DANOY) delivered a -18.24%% return since the beginning of the year, while its 12-month returns are down by -30.47. The stock closed at $10.13 per share on September 02, 2022.
Here is what First Eagle Investments Overseas Fund has to say about Danone S.A. (NYSE:DANOY) in its Q2 2022 investor letter:
"French food giant Danone rallied along with its consumer staples peers as investors rotated into defensive stocks during the second quarter. Though the company faces headwinds from high raw material costs and supply chain constraints, its size and market share provide it with opportunities to mitigate the impact of these challenges. Danone is in the early stages of a multi-year turnaround plan to reshape its portfolio of businesses through acquisitions and divestments and greater investment in the brands it retains, which could help support pricing power and margins over the long term."
Our calculations show that Danone S.A. (NYSE:DANOY) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Danone S.A. (NYSE:DANOY) was in 1 hedge fund portfolio at the end of the second quarter of 2022, compared to 2 funds in the previous quarter. Danone S.A. (NYSE:DANOY) delivered a -16.00% return in the past 3 months.
In August 2022, we also shared another hedge fund’s views on Danone S.A. (NYSE:DANOY) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.
Disclosure: None. This article is originally published at Insider Monkey.