Baron Funds, an investment management company, released its “Baron Focused Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund increased by 2.18% (Institutional Shares), compared to a 0.12% decline for the Russell 2500 Growth Index and a 4.88% decline for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Funds discussed stocks like Krispy Kreme, Inc. (NASDAQ:DNUT) in the Q3 2022 investor letter. Headquartered in Charlotte, North Carolina, Krispy Kreme, Inc. (NASDAQ:DNUT) has an omnichannel business model that serves doughnuts and coffee. On November 2, 2022, Krispy Kreme, Inc. (NASDAQ:DNUT) stock closed at $14.00 per share. One-month return of Krispy Kreme, Inc. (NASDAQ:DNUT) was 9.89% and its shares gained 1.01% of their value over the last 52 weeks. Krispy Kreme, Inc. (NASDAQ:DNUT) has a market capitalization of $2.344 billion.
Baron Funds made the following comment about Krispy Kreme, Inc. (NASDAQ:DNUT) in its Q3 2022 investor letter:
“Krispy Kreme, Inc. (NASDAQ:DNUT) is a manufacturer and retailer of branded fresh doughnuts and packaged sweet treats sold through an omni-channel model in the U.S. and abroad. Shares declined following earnings that missed consensus, driven by the challenging macroeconomic environment, negative consumer sentiment in the U.K., and increased labor and commodity costs due to foreign exchange headwinds as a result of the strong U.S. dollar. We view these challenges as temporary and see opportunity for growth and margin expansion as Krispy Kreme broadens its unique hub-and-spoke business model.”
Krispy Kreme, Inc. (NASDAQ:DNUT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Krispy Kreme, Inc. (NASDAQ:DNUT) at the end of the second quarter which was 11 in the previous quarter.
We discussed Krispy Kreme, Inc. (NASDAQ:DNUT) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 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.