5 Best Beauty Stocks To Buy Now

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In this article, we discuss the 5 best beauty stocks to buy now. If you want to read our detailed analysis of the beauty industry and its future outlook, go directly to 10 Best Beauty Stocks To Buy Now.

5. Coty Inc. (NYSE:COTY)

Number of Hedge Fund Holders: 30

Coty Inc. (NYSE:COTY) is a New York-based company which offers premium fragrances, skincare, and color cosmetics products in approximately 150 countries and regions around the globe. Calvin Klein, Burberry, Gucci, and Kylie Jenner are some of the most popular brands under the company’s umbrella.

The company reported its Q1 earnings on May 9, and posted earnings per share above estimates by $0.02. Revenue for the quarter was $1.19 billion, beating consensus estimates by $32.4 million and exhibiting a 15.4% growth in comparison to the year-ago quarter.

Citi analyst Wendy Nicholson on May 10 gave Coty Inc. (NYSE:COTY) a ‘Buy’ rating, whilst noting that the firm has continued to gain market share in the consumer beauty space, and its prestige fragrance business is “exhibiting strong momentum.” She views the recent sell-off as overdone, and set her price target on Coty Inc. (NYSE:COTY) shares at $15.
With combined stakes worth roughly $645 million, 30 hedge funds were long Coty Inc. (NYSE:COTY) at the end of Q1 2022, down from 36 hedge funds in the previous quarter. Melvin Capital Management, with a $264.3 million stake, was the leading shareholder of Coty Inc. (NYSE:COTY) at the end of March.
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