5 European Stocks to Buy According to Tom Russo’s Hedge Fund

4. Pernod Ricard SA (OTC:PDRDY)

Russo’s Stake Value: $753,161,000

Percentage of Russo’s 13F Portfolio: 6.36%

Number of Hedge Fund Holders: 1

The fourth stock on our list of the 5 European stocks to buy according to Tom Russo’s hedge fund is Pernod Ricard SA (OTC:PDRDY), which is a French alcoholic beverage mega company. The company is named after its two most popular products – Pernod Anise and Ricard Pastis.

Pernod Ricard is known for pastis, which are anise-flavored spirits – commonly consumed in France. Headquartered in Paris, the company’s global footprint expands to Europe, Middle East, Africa, Asia & Pacific, and the Americas. Pernod Ricard SA (OTC:PDRDY) has a market capitalization of $57.75 billion. 

Russo’s hedge fund owns 3.39 million shares in Pernod Ricard SA (OTC:PDRDY), amounting to $753.1 million, and making up 6.36% of Russo’s 13F portfolio. 

According to a press release on September 21, Pernod Ricard SA (OTC:PDRDY) will acquire The Whiskey Exchange, which is an online and physical retailer of spirits in the UK. The Whiskey Exchange is a leading e-commerce spirits retailer with 10,000 products under the brand name. This strategic acquisition is in line with Pernod Ricard’s strategy to enter the e-commerce consumer market, and meet the demand for unique and premium blends.