Yahoo Finance Post Holdings (POST) Gaining Advantages from its Acquisition
Diamond Hill Capital, an investment management company, released its “Mid Cap Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter the strategy outperformed the Russell Midcap Index. The strategy returned 9.74% (gross) and 9.55% net of fees vs 8.60% for the index. As the economy and profit growth remained strong, equity markets continued their upward trend in Q1. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2024.
Diamond Hill Capital Mid Cap Strategy highlighted stocks like Post Holdings, Inc. (NYSE:POST), in the first quarter 2024 investor letter. Post Holdings, Inc. (NYSE:POST) is a consumer-packaged goods holding company. The one-month return of Post Holdings, Inc. (NYSE:POST) was -1.60%, and its shares gained 20.49% of their value over the last 52 weeks. On June 6, 2024, Post Holdings, Inc. (NYSE:POST) stock closed at $105.10 per share with a market capitalization of $6.368 billion.
Diamond Hill Capital Mid Cap Strategy stated the following regarding Post Holdings, Inc. (NYSE:POST) in its first quarter 2024 investor letter:
"Other top Q1 contributors included Post Holdings, Inc. (NYSE:POST). Food products manager Post Holdings is making progress with its Smucker pet foods acquisition — which we believe provides the company an underappreciated opportunity to capitalize on undermanaged brands."
A variety of grocery items in their respective aisles of a superstore representing the company brand.
Post Holdings, Inc. (NYSE:POST) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Post Holdings, Inc. (NYSE:POST) at the end of the first quarter which was 32 in the previous quarter. Post Holdings, Inc.’s (NYSE:POST) consolidated net sales for the quarter were $2 billion, up 23% year over year fueled by recent acquisitions. While we acknowledge the potential of Post Holdings, Inc. (NYSE:POST) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Post Holdings, Inc. (NYSE:POST) and shared the list of best cookies and crackers stocks to buy. In addition, please check out our hedge fund investor letters Q1 2024 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.
