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Herbalife Ltd. (HLF) & 4 More: Hedge Fund Tiger Consumer Management’s Best Picks

The fund slightly increased its stake in Buffalo Wild Wings (NASDAQ:BWLD) between October and December to about 900,000 shares. Buffalo Wild Wings (NASDAQ:BWLD) had made our list of the most popular restaurant stocks among hedge funds for the fourth quarter of 2012 (here are more restaurant stocks hedge funds loved). The stock is priced for growth with a trailing earnings multiple of 30, though growth rates have been impressive: in its most recent quarter both revenue and net income were at least 20% higher than in the same period in the previous year. We would note that 19% of the float is held short as some bears expect growth to slow.

Ryman Hospitality Properties, Inc. (REIT) (NYSE:RHP) was another of Tiger Consumer’s small cap picks, disclosing a position of 1.1 million shares. Ryman Hospitality Properties, Inc. (REIT) (NYSE:RHP) is a real estate investment trust which owns a number of convention center resorts and Nashville area tourist attractions. It pays a dividend yield of 4.4%; REITs are in fact required to pay out a large share of taxable income to shareholders in order to maintain their favorable tax treatment. Billionaire John Paulson’s Paulson & Co. owned 4.3 million shares of Ryman Hospitality Properties, Inc. (REIT) (NYSE:RHP) at the end of 2012, up slightly over the course of Q4 (check out more stocks Paulson was buying).

McCormack and his team initiated a position of about 840,000 shares in Deckers Outdoor Corp (NASDAQ:DECK), which owns brands such as Ugg and Teva. Net income at Deckers Outdoor Corp (NASDAQ:DECK) fell 21% in the fourth quarter of 2012 versus a year earlier, despite a slight increase in revenue. The company is a very popular short, with 35% of the float held by short sellers, and at 17 times trailing earnings the market is dependent on something of a recovery in earnings. Jeffery Altman’s Owl Creek Asset Management was another major shareholder in Deckers Outdoor Corp (NASDAQ:DECK).

Disclosure: I own no shares of any stocks mentioned in this article.

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