5 Best Beauty Stocks to Invest In

4. Coty Inc. (NYSE: COTY

Market Capitalization: $7.2 billion

Number of Hedge Fund Holders: 25

Coty Inc. (NYSE: COTY) is a New York-based beauty company that mainly deals in hair, makeup, skin, and nail products. The company also manufactures and distributes fragrances. Coty Inc. (NYSE: COTY) is the parent company of some widely acclaimed beauty brands, including Wella, Rimmel, Clairol, Covergirl, Philosophy, and the most popular amongst Gen Z, Kylie Cosmetics. It ranks sixth on our list of the best beauty stocks to invest in. 

Coty Inc. (NYSE: COTY) generated a revenue of over $1 billion in Q3 FY21. Over 54% of the revenue came from the U.S. and the Asia Pacific, especially China. Earlier in June, Evercore ISI stated that Coty Inc. (NYSE: COTY) has a  potential upside of 70% to the company because of Covergirl’s market share growth. Moreover, the COTY stock has shown solid performance, gaining by 120% in the past year and 41% year to date. 

At the end of Q1 2021, 25 hedge funds tracked in our database have positions in Coty Inc. (NYSE: COTY), up from 22 in the previous quarter. The total value of these stakes is $262 million.