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

3. Compagnie Financière Richemont SA (OTC:CFRUY)

Russo’s Stake Value: $778,072,000

Percentage of Russo’s 13F Portfolio: 6.57%

Number of Hedge Fund Holders: 2

The third stock on our list of the 5 European stocks to buy according to Tom Russo’s hedge fund is Compagnie Financière Richemont SA (OTC:CFRUY), which is a Swiss luxury goods company headquartered in Bellevue, Switzerland. Founded in 1988, Compagnie Financière Richemont SA (OTC:CFRUY) specializes in luxury products such as jewelry, leather goods, watches, firearms, accessories, and more. The flagship brands owned by Compagnie Financière Richemont SA (OTC:CFRUY) include Cartier, Chloé, Dunhill, Montblanc, and Baume & Mercier among others. The company has a market cap of $60.29 billion. 

Russo’s hedge fund owns about 6.4 million shares in Compagnie Financière Richemont SA (OTC:CFRUY), amounting to $778 million, and making up 6.57% of Russo’s 13F portfolio. 

At the end of the second quarter of 2021, 2 hedge funds in Insider Monkey’s database held stakes amounting to $227.3 million in Compagnie Financière Richemont SA (OTC:CFRUY). This is compared to the same number of hedge funds in the previous quarter, with stakes worth $181.6 million. 

On September 23, the board of Compagnie Financière Richemont SA (OTC:CFRUY) announced that the dividend would be raised to $2.15, which means the dividend yield would increase by 1.9% – a statement that satisfied the shareholders immensely.