Chartwell Investment Partners, an asset management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. For the second quarter, Chartwell-managed accounts fell in line with their respective index benchmarks, however, the Chartwell Dividend Model outperformed by a significant margin versus its benchmark. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, Chartwell Investment Partners mentioned General Mills, Inc. (NYSE:GIS) and explained its insights for the company. Founded in 1928, General Mills, Inc. (NYSE:GIS) is a Minneapolis, Minnesota-based food company with a $48.1 billion market capitalization. General Mills, Inc. (NYSE:GIS) delivered a 19.89% return since the beginning of the year, while its 12-month returns are up by 34.01%. The stock closed at $80.78 per share on September 22, 2022.
Here is what Chartwell Investment Partners has to say about General Mills, Inc. (NYSE:GIS) in its Q2 2022 investor letter:
“In the Dividend Equity accounts, the three best performers in Q2 includes General Mills (NYSE:GIS, 3.2%), up 12.2%. General Mills benefitted from the combination of being in a very defensive industry as well as demonstrating solid business momentum; margins have been particularly impressive, following price increases.”
Our calculations show that General Mills, Inc. (NYSE:GIS) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. General Mills, Inc. (NYSE:GIS) was in 35 hedge fund portfolios at the end of the second quarter of 2022, compared to 37 funds in the previous quarter. General Mills, Inc. (NYSE:GIS) delivered a 17.11% return in the past 3 months.
In January 2022, we also shared another hedge fund’s views on General Mills, Inc. (NYSE:GIS) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.
Disclosure: None. This article is originally published at Insider Monkey.