Broyhill Asset Management, a boutique investment firm, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio gained 1.3% net of fees and expenses in 2022 compared to a -18% return for the MSCI World Index. The portfolio compounded at 12.3% annually net of fees and expenses, since inception. In addition, check the fund’s top five holdings to know its best picks in 2022.
Broyhill Asset Management highlighted stocks like Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) in the Q4 2022 investor letter. Headquartered in Mexico City, Mexico, Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) is a franchise bottler, that produces and distributes Coca-Cola trademark beverages. On March 17, 2023, Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) stock closed at $74.62 per share. One-month return of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) was 4.29%, and its shares gained 42.46% of their value over the last 52 weeks. Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) has a market capitalization of $15.676 billion.
Broyhill Asset Management made the following comment about Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) in its Q4 2022 investor letter:
“Shares of Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) climbed 28% in 2022 as the Coca Cola bottler’s operations continued to benefit from the re-opening of LatAm economies and the continued shift to higher margin, on-premise sales. Curiously, despite the stock’s strong performance and steady increases in consensus earnings estimates which are more than 30% higher since we established the position, analysts appear to have soured on the name. Only seven of the seventeen analysts that cover the stock currently rate it a buy down from about 75% a couple of years ago. While this depressed sentiment gives us confidence that the market has yet to come around to our more positive view on the business, we did trim the position during the year to capitalize on the even greater discount we identified at parent company, Fomento Economico Mexicano.”
Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) at the end of the fourth quarter which was 9 in the previous quarter.
We discussed Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) in another article and shared the list of Bill Gates’ holdings. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
