Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Mid Cap Value Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Equities rose early in the quarter on the back of a broader appetite for risk, however, they eventually fell when interest rates crossed 4%. Value and growth stocks performed similarly in the market’s large- and mid-cap categories. On the other hand, value stocks proved to be more defensive in the small-cap group. The Russell Midcap Value Index fell 4.5%, with only the energy and financials sectors seeing gains. Healthcare, communication services, and consumer staples detracted. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Chartwell Mid Cap Value Fund highlighted stocks like Dollar Tree, Inc. (NASDAQ:DLTR) in the third quarter 2023 investor letter. Headquartered in Chesapeake, Virginia, Dollar Tree, Inc. (NASDAQ:DLTR) is a discount retailer. On December 22, 2023, Dollar Tree, Inc. (NASDAQ:DLTR) stock closed at $136.56 per share. One-month return of Dollar Tree, Inc. (NASDAQ:DLTR) was 16.40%, and its shares lost 3.77% of their value over the last 52 weeks. Dollar Tree, Inc. (NASDAQ:DLTR) has a market capitalization of $29.753 billion.
Carillon Chartwell Mid Cap Value Fund made the following comment about Dollar Tree, Inc. (NASDAQ:DLTR) in its Q3 2023 investor letter:
“The Russell Midcap Value Index declined 4.5%, with only the energy and financials sectors generating positive returns. The healthcare, communication services, and consumer staples sectors were the weakest. Dollar Tree, Inc. (NASDAQ:DLTR) operates discount variety stores under the Dollar Tree and Family Dollar brands. Although revenue growth rates exceeded expectations, margins did not as cost inflation persisted and technology and supply chain investment increased.”
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 safest stocks to invest in. In addition, please check out our hedge fund investor letters Q3 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.
