Diamond Hill Capital, an investment management firm, published its “Diamond Hill All Cap Select Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. During a volatile quarter, the Diamond Hill All Cap Select Fund held up meaningfully better than the Russell 3000 Index. After a strong rebound in 2021, global GDP growth is expected to moderate in 2022. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Diamond Hill All Cap Select Fund mentioned Lancaster Colony Corporation (NASDAQ:LANC) and explained its insights for the company. Founded in 1961, Lancaster Colony Corporation (NASDAQ:LANC) is a Westerville, Ohio-based food company with a $3.5 billion market capitalization. Lancaster Colony Corporation (NASDAQ:LANC) delivered a -22.39% return since the beginning of the year, while its 12-month returns are down by -35.77%. The stock closed at $128.52 per share on July 14, 2022.
Here is what Diamond Hill All Cap Select Fund Concentrated Fund has to say about Lancaster Colony Corporation (NASDAQ:LANC) in its Q1 2022 investor letter:
“Lancaster Colony Corporation (NASDAQ:LANC) was another new addition in Q1. It is a food manufacturer that produces and markets specialty consumer food products, including refrigerated dressings and dips, frozen breads and bagel bites, and shelf-stable sauces, dressings and croutons. Lancaster also holds retail licenses to sell branded items for foodservice accounts, such as Olive Garden, Buffalo Wild Wings and Chick-fil-A, to name a few. The company enjoys strong competitive positions in its product categories and is financially strong. Near-term headwinds—increased commodity and freight costs—have hampered the stock in recent months giving us an opportunity to initiate a position at an attractive discount to our estimate of intrinsic value.”
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Our calculations show that Lancaster Colony Corporation (NASDAQ:LANC) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Lancaster Colony Corporation (NASDAQ:LANC) was in 17 hedge fund portfolios at the end of the first quarter of 2022, compared to 17 funds in the previous quarter. Lancaster Colony Corporation (NASDAQ:LANC) delivered a -17.19% return in the past 3 months.
In January 2022, we also shared another hedge fund’s views on Lancaster Colony Corporation (NASDAQ:LANC) in 5 Dividend Kings to Buy for 2022. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
