The London Company, an investment management company, released “The London Company Mid Cap Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Q4 saw a remarkable broadening of market strength, with small and mid-cap companies posting robust increases. In Q4, the fund gained 12.9% (12.8, net) vs a 12.8% gain for the Russell Midcap Index. Positive stock selection boosted the fund’s outperformance in the quarter, partly offset by headwinds from sector exposure. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company Mid Cap Strategy featured stocks such as Dollar Tree, Inc. (NASDAQ:DLTR) in the fourth quarter 2023 investor letter. Headquartered in Chesapeake, Virginia, Dollar Tree, Inc. (NASDAQ:DLTR) is a discount retailer. On February 7, 2024, Dollar Tree, Inc. (NASDAQ:DLTR) stock closed at $139.83 per share. One-month return of Dollar Tree, Inc. (NASDAQ:DLTR) was 3.41%, and its shares lost 6.19% of their value over the last 52 weeks. Dollar Tree, Inc. (NASDAQ:DLTR) has a market capitalization of $30.465 billion.
The London Company Mid Cap Strategy stated the following regarding Dollar Tree, Inc. (NASDAQ:DLTR) in its fourth quarter 2023 investor letter:
“Dollar Tree, Inc. (NASDAQ:DLTR) – DLTR shares outperformed in 4Q as the business demonstrated share gains, progress on the rollout of multi-price assortment, and bold capital allocation with a large stock buyback during the third quarter. We believe the investments the company has made over the last year will continue to support higher returns going forward. Further, we view valuation as attractive on a sum-of-the-parts basis and have conviction in the management team, which now consists of the best operators in the retail industry.”
A shopper browsing through a discount retailers merchandise aisle filled with a wide variety of items.
Dollar Tree, Inc. (NASDAQ:DLTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Dollar Tree, Inc. (NASDAQ:DLTR) at the end of third quarter which was 37 in the previous quarter.
We discussed Dollar Tree, Inc. (NASDAQ:DLTR) in another article and shared the list of best grocery stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 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.
