5 Best Beauty Stocks To Buy Now

2. The Estee Lauder Companies Inc. (NYSE:EL)

Number of Hedge Fund Holders: 46

The Estee Lauder Companies Inc. (NYSE:EL) manufactures and markets a range of beauty products such as makeup, skincare, hair care and fragrances around the globe. Its brands include Estée Lauder, Clinique, Lab Series, and Bobbi Brown, among others.

On May 4, Raymond James analyst Olivia Tong maintained a ‘Strong Buy’ rating on The Estee Lauder Companies Inc. (NYSE:EL) shares, and revised the price target to $320 from $345. She sees temporary blips for the company owing to the Covid lockdowns in China, but believes its long-term fundamentals remain intact within a meaningful long-term growth market.

The investing world was eager on The Estee Lauder Companies Inc. (NYSE:EL) at the close of Q1 2022, where 46 hedge funds held positions in the firm, up from 44 hedge funds in the previous quarter. Terry Smith’s Fundsmith LLP boasted a $1.57 billion stake in The Estee Lauder Companies Inc. (NYSE:EL) at the close of the first quarter, making it the firm’s biggest shareholder.

For the first quarter, The Estee Lauder Companies Inc. (NYSE:EL) disclosed earnings per share of $1.90, exceeding analysts’ expectations by $0.23. However, quarterly revenue fell below estimates by $73.6 million, coming in at $4.25 billion.