Aristotle Capital Management, LLC, an investment management company, released its “Aristotle International Equity Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -15.11% at NAV compared to a -14.51% return for the MSCI EAFE Index and -13.73% return for the MSCI ACWI ex USA Index. Stock selection and sector allocation contributed to the fund’s underperformance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Aristotle Capital discussed stocks like Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in the second quarter 2022 investor letter. Headquartered in Uxbridge, the United Kingdom, Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) produces and distributes non-alcoholic beverages. On October 7, 2022, Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) stock closed at $44.68 per share. One-month return of Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) was -10.10% and its shares lost 17.34% of their value over the last 52 weeks. Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) has a market capitalization of $20.941 billion.
Here is what Aristotle Capital specifically said about Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in its Q2 2022 investor letter:
“Coca-Cola Europacific Partners PLC (NASDAQ:CCEP), the multinational bottling company, was a top contributor for the quarter. Formed in 2016 via a tri-party merger of the three main Western European bottling companies, CCEP continues to display its strength integrating acquisitions, harvesting synergies and improving the combined franchises. The company’s 2021 acquisition of Australia-based bottler Coca-Cola Amatil is progressing nicely, with further opportunities for synergies and improvements in working capital identified. With economies reopening, CCEP’s operations are experiencing strong volume growth, as well as favorable pricing. Specifically, the reopening of the away-from-home channel in Europe has been robust, with several markets reaching or exceeding 2019 volume levels. Additionally, product innovation, such as the compact Freestyle drinks dispenser for small sites, remains a priority for the company, and we believe it will aid in capturing market share over time. CCEP also continues to invest in digital solutions, such as a business-to-business (B2B) portal that assists and facilitates customers’ ordering and monitoring processes, which now represent ~30% of the away-from-home business.”
Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) at the end of the second quarter which was 31 in the previous quarter.
We discussed Coca-Cola Europacific Partners PLC (NASDAQ:CCEP) in another article and shared Ave Maria’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 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.
