Oakmark Funds, advised by Harris Associates, has published the Oakmark Funds Q1 2024 Investor Letter. You can download a copy of the same here. The fund returned 10.27% in the first quarter, compared to 10.56% for the S&P 500 index. Since its inception in August 1991, the fund has returned an average of 12.96% annually, compared to the index's return of 10.51% during the same period. Financial institutions and consumer voluntary organizations were the largest contributors to the fund in the quarter, and there were no critics. Additionally, you can check out the fund's top five holdings to learn about the best stocks for 2024.
Oakmark Funds featured stocks such as KenVue Inc. (NYSE:KVUE) in its Q1 2024 investor letter. Kenvue Inc. (NYSE:KVUE) is a consumer health company headquartered in Skillman, New Jersey. On April 5, 2024, Kenvue Inc. (NYSE: KVUE) stock closed at $20.25 per share. Kenvue Inc. (NYSE: KVUE) has a one-month return of 0.50%, with the company's stock losing 5.95% of its value year-to-date. Kenvue Inc. (NYSE:KVUE) has a market capitalization of $38.77 billion.
Oakmark Funds said the following about Kenvue Inc. (NYSE:KVUE) in its Q1 2024 investor letter:
“Kenview Co., Ltd.” (NYSE:KVUE) became the largest independent consumer health company following its separation from Johnson & Johnson in May 2023. The company's well-known brands, including Neutrogena, Listerine, Tylenol and Band-Aid, are global market share leaders. Respective categories for each generation. But Kenvue's first year as a public company was marred by lawsuits and a loss of market share in certain categories. As a result, Kenvue trades at just 16.5x earnings, a significant discount to the market and other consumer health and packaged products companies. We have an opportunity to improve efficiency and reinvest cost savings into enhanced product development and marketing, which should help us grow and enhance our brand value. ”
A pharmacist at a local store stocking the shelves with products from a consumer health company.
Kenvue Inc. (NYSE:KVUE) isn't on the list of 30 most popular stocks among hedge funds. According to our database, Kenvue Inc. (NYSE:KVUE) was held by 64 hedge fund portfolios at the end of the fourth quarter, compared to 84 in the prior quarter.
We talked about Kenvue Inc. (NYSE:KVUE) in a separate article and shared a list of the best beauty stocks to invest in. Additionally, for more information on investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q1 2024 page. .
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Disclosure: None. This article was originally published on Insider Monkey.
