What Makes Fox Factory Holding Corp. (FOXF) an Attractive Long-Term Investment?
Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered 3.46% net of fees compared to a 4.13% return for the Russell 2000 Growth Index. Style factor headwinds and relative sector positioning offset the positive stock selection in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen Capital highlighted stocks like Fox Factory Holding Corp. (NASDAQ:FOXF) in the fourth quarter 2022 investor letter. Headquartered in Duluth, Georgia, Fox Factory Holding Corp. (NASDAQ:FOXF) is a ride dynamics products manufacturer. On January 24, 2023, Fox Factory Holding Corp. (NASDAQ:FOXF) stock closed at $109.99 per share. One-month return of Fox Factory Holding Corp. (NASDAQ:FOXF) was 23.71%, and its shares lost 11.90% of their value over the last 52 weeks. Fox Factory Holding Corp. (NASDAQ:FOXF) has a market capitalization of $4.649 billion.
Polen Capital made the following comment about Fox Factory Holding Corp. (NASDAQ:FOXF) in its Q4 2022 investor letter:
“Lastly, Fox Factory Holding Corp. (NASDAQ:FOXF), a maker of high-performance shocks and suspensions for bikes and power vehicles, reported solid results, with concerns about de-stocking or greater cyclicality in their end markets not materializing in the third quarter. While the near-term range of outcomes is widening for Fox, the management team has shown great skill. The risk-reward tradeoff and negative sentiment positions Fox Factory shares attractively for the long term, even if the business is more volatile than expected near term. While we remain cautious, a “soft landing” is possible given the strength they are seeing in their Powered Vehicles segment, which has been driven by a longerterm and stable order cycle for vehicles with waitlists.”
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Fox Factory Holding Corp. (NASDAQ:FOXF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Fox Factory Holding Corp. (NASDAQ:FOXF) at the end of the third quarter, which was 16 in the previous quarter.
We discussed Fox Factory Holding Corp. (NASDAQ:FOXF) in another article and shared the best RV and camping stocks. In addition, please check out our hedge fund investor letters Q4 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.
