In this article, we will take a look at the 5 best 52-week low stocks to buy now. To see more such companies, go directly to 18 Best 52-Week Low Stocks To Buy Now.
5. Target Corporation (NYSE:TGT)
Number of Hedge Fund Holders: 46
Target Corporation (NYSE:TGT)’s shares have lost about 31% year to date through August 16. Target Corporation (NYSE:TGT) is hovering around its 52-week low. Target Corporation (NYSE:TGT) recently posted its Q2 results. Adjusted EPS in the period came in at $1.80 beating estimates by $0.38. Revenue in the quarter fell 4.9% year over year to $24.77 billion, missing estimates by $460 million. Target Corporation (NYSE:TGT) also lowered its full-year sales and profit guidance.
As of the end of the first quarter of 2023, 46 hedge funds out of the 943 funds reported owning stakes in Target Corporation (NYSE:TGT). The biggest stakeholder of Target Corporation (NYSE:TGT) as of the end of March was Ray Dalio’s Bridgewater Associates which owns an $110 million stake in the company.
Smead Value Fund made the following comment about Target Corporation (NYSE:TGT) in its second quarter 2023 investor letter:
“Our biggest detractors were Target Corporation (NYSE:TGT), Warner Brothers (WBD), and Pfizer (PFE). Target was our worst performer in the quarter, primarily driven by customers and public reaction to in-store promotions for the month of June. We believe management has listened to its core customers, made the necessary changes, and avoided structural damage to the brand.”
4. Corteva, Inc. (NYSE:CTVA)
Number of Hedge Fund Holders: 52
Indiana-based agricultural company Corteva, Inc. (NYSE:CTVA) shares have lost about 18% over the past one year. Corteva, Inc. (NYSE:CTVA) recently hit 52-week lows. Corteva recently posted mixed Q2 results and cut its full-year guidance for sales to $17.9 billion – $18.2 billion, down from its prior outlook for $18.6 billion – $18.9 billion.
Corteva, Inc. (NYSE:CTVA) had 52 hedge fund investors as of the end of the first quarter of 2023, according to Insider Monkey’s database of 943 funds. The most significant stakeholder of Corteva, Inc. (NYSE:CTVA) was Ken Griffin’s Citadel Investment Group which owns a $267 million stake in the company.
3. NextEra Energy, Inc. (NYSE:NEE)
Number of Hedge Fund Holders: 59
NextEra Energy, Inc. (NYSE:NEE) was hovering around its 52-week lows on August 16 morning.
As of the end of the first quarter of 2023, 59 hedge funds out of the 943 funds tracked by Insider Monkey reported owning stakes in NextEra Energy, Inc. (NYSE:NEE). The biggest stakeholder of NextEra Energy, Inc. (NYSE:NEE) during this period was John Overdeck and David Siegel’s Two Sigma Advisors which owns a $152 million stake in the company.
ClearBridge Investments made the following comment about NextEra Energy, Inc. (NYSE:NEE) in its Q3 2022 investor letter:
“NextEra Energy, Inc. (NYSE:NEE) is an integrated utility business with a regulated utility operating in Florida and the largest wind business in the U.S. NextEra’s regulated business includes Florida Power & Light, which serves nine million people in Florida. NextEra’s share price rose along with the passage of the U.S. Inflation Reduction Act, which considerably expands support for renewable energy.”
2. The Estée Lauder Companies Inc. (NYSE:EL)
Number of Hedge Fund Holders: 59
Cosmetics company The Estée Lauder Companies Inc. (NYSE:EL)’s shares have declined by 40% over the past 12 months. In July Barclays downgraded The Estée Lauder Companies Inc. (NYSE:EL) to Equal Weight from Overweight and cut its price target to $193 from $210.
As of the end of the first quarter of 2023, 59 hedge funds out of the 943 funds tracked by Insider Monkey were long The Estée Lauder Companies Inc. (NYSE:EL). The biggest stakeholder of The Estée Lauder Companies Inc. (NYSE:EL) during this period was Terry Smith’s Fundsmith LLP which owns a $1.34 billion stake in the company.
Here is what Aristotle Atlantic Partners has to say about The Estee Lauder Companies Inc. (NYSE:EL) in its Q2 2023 investor letter:
“Estee Lauder shares were weak during the second quarter, following an inline earnings report where Estee again pushed out the timing of a recovery in their travel retail business due to sluggish travel trends in China and an inventory overhand in that end market. Estee reduced fiscal 2023 earnings guidance again and pushed the timing of the recovery toward the end of this calendar year. Outside of travel retail, growth was solid in the Americas, Europe, APAC, Emerging Markets and China.”
1. Sea Limited (NYSE:SE)
Number of Hedge Fund Holders: 65
Once a Wall Street darling, Sea Limited (NYSE:SE) has gone nowhere but down over the past few months amid a broader rotation of investors away from risky stocks. Sea Limited (NYSE:SE) plunged recently after the company posted Q2 results. GAAP EPS in the quarter came in at $0.54 beating estimates by $0.08. Revenue in the quarter jumped 5.2% year over year to $3.1 billion, missing estimates by $150 million. As of the end of the first quarter of 2023, 65 hedge funds out of the 943 funds reported owning stakes in Sea Limited (NYSE:SE). The biggest stakeholder of Sea Limited (NYSE:SE) during this period was Jay Chen’s Himension Capital which owns a $407 million stake in the company.
Artisan Developing World Fund made the following comment about Sea Limited (NYSE:SE) in its second quarter 2023 investor letter:
“Bottom contributors to performance for the quarter included Southeast Asian Internet leader Sea Limited (NYSE:SE). Sea declined due to rising investor concerns around e-commerce competition from TikTok in Southeast Asia during a period of subdued gross merchandise value growth, while the gaming business continues to struggle.”
You can also take a peek at 10 Best Consumer Staples ETFs and 10 Korean Stocks Listed in the U.S.
