ClearBridge Investments: “We are Confident in Just Eat Takeaway (GRUB)”

ClearBridge Investments, an investment management firm, published its “International Growth EAFE Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. During the third quarter, the ClearBridge International Growth EAFE Strategy underperformed its MSCI EAFE Index benchmark. The Strategy delivered gains across two of the 10 sectors in which it was invested (out of 11 total), with the health care sector the primary contributor, while the consumer discretionary, communication services, and consumer staples sectors were the largest detractors. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

ClearBridge International Growth ADR Strategy, in its Q3 2021 investor letter, mentioned Just Eat Takeaway.com N.V. (NYSE: GRUB) and discussed its stance on the firm. Just Eat Takeaway.com N.V. is a Chicago, Illinois-based online food ordering company with a $10.6 billion market capitalization. GRUB delivered a -9.76% return since the beginning of the year and it closed at $9.93 per share on January 07, 2022.

Here is what ClearBridge International Growth ADR Strategy has to say about Just Eat Takeaway.com N.V. in its Q3 2021 investor letter:

“International markets are facing many of the same uncertainties as the U.S. with inflation flaring in Europe and the U.K. while these regions struggle with labor shortages as populations slowly return to work. The employment situation is especially acute in the U.K. where Brexit is limiting the ability of employers to import as much labor as they did before the country split with the European Union. Commodity and price inflation are also working its way through global supply chains, increasing the importance of pricing power among our portfolio companies. We are confident in what we own, with companies like food delivery firm Just Eat Takeaway paying its drivers well and providing health care benefits.”

Photo by Phillip Goldsberry on Unsplash

Based on our calculations, Just Eat Takeaway.com N.V. (NYSE: GRUB) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. GRUB was in 18 hedge fund portfolios at the end of the third quarter of 2021, compared to 24 funds in the previous quarter. Just Eat Takeaway.com N.V. (NYSE: GRUB) delivered a -33.31% return in the past 3 months.

In November 2021, we published an article that includes GRUB in the 10 Stocks to Invest in According to Billionaire Paul Tudor Jones. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.