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Here’s Why Polen Capital Sold its Nestlé (NSRGY) Shares

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Polen Capital, an investment management firm, published its “Polen International Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Over the first quarter of 2022, the Portfolio returned -13.94% gross and -14.17% net of fees, respectively, versus the -5.45% return for the MSCI All Country World ex-USA Index (the “Index”).  Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022. 

In its Q1 2022 investor letter, Polen International Growth Fund mentioned Nestlé S.A. (NYSE:NSRGY) and explained its insights for the company. Founded in 1866, Nestlé S.A. (NYSE:NSRGY) is a Vevey, Switzerland-based multinational food and drink processing conglomerate corporation with a $323.3 billion market capitalization. Nestlé S.A. (NYSE:NSRGY) delivered a -16.58% return since the beginning of the year, while its 12-month returns are down by -7.53%. The stock closed at $117.10 per share on June 07, 2022.

Here is what Polen International Growth Fund has to say about Nestlé S.A. (NYSE:NSRGY) in its Q1 2022 investor letter:

"We exited the Portfolio’s position in Nestlé in favor of what we believed to be a more compelling investment idea. Nestlé continues to enjoy competitive advantages related to its scale, distribution, and brand equity. We think the management team has positioned the business for success in recent years, with several divestitures along the way and believe the company is still likely to deliver consistent results. That said, our research indicates that returns may be at the lower end of our expected range and other opportunities appear more attractive."

Copyright: wolterk / 123RF Stock Photo

Our calculations show that Nestlé S.A. (NYSE:NSRGY) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Nestlé S.A. (NYSE:NSRGY) delivered a -6.23% return in the past 3 months.

In September 2021, we also shared another hedge fund’s views on Nestlé S.A. (NYSE:NSRGY) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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