5 Best Hair Care Stocks To Buy Now

In this article, we discuss 5 best hair care stocks to buy now. If you want to see more stocks in this selection, check out 11 Best Hair Care Stocks To Buy Now. 

5. Coty Inc. (NYSE:COTY)

Number of Hedge Fund Holders: 30

Coty Inc. (NYSE:COTY) is a New York-based manufactures, markets, and sells beauty products worldwide. It operates through Prestige and Consumer Beauty segments. The company provides fragrance, color cosmetics, skin care, hair care, and body care products. On December 12, Coty Inc. (NYSE:COTY) reported that it will start hedging a planned stock buyback program of approximately $200 million in CY25 as part of its deleveraging plan. The program adds to the company’s previous $200 million hedged buyback in CY24. Coty Inc. (NYSE:COTY) is one of the best hair care stocks to buy. 

On December 6, Deutsche Bank analyst Steve Powers raised the price target on Coty Inc. (NYSE:COTY) to $11 from $10 and maintained a Buy rating on the shares. Although data points are “choppy,” there have been a number of positive developments for the markets over the past several weeks. 

According to Insider Monkey’s data, 30 hedge funds were bullish on Coty Inc. (NYSE:COTY) at the end of September 2022, compared to 29 funds in the last quarter. Israel Englander’s Millennium Management is the biggest position holder in the company, with 8.8 million shares worth $55.5 million. 

Meridian Funds made the following comment about Coty Inc. (NYSE:COTY) in its Q3 2022 investor letter:

“Similarly, Coty Inc. (NYSE:COTY) benefited from the market’s rising appetite for more defensive names during the quarter. The beauty products Coty manufactures and distributes saw steady market share gains, especially as core customers expanded their work and leisure activities outside of the home. The company also operates a broad distribution network and holds a deep intellectual property portfolio across key categories within the cosmetic and fragrance industries. Additionally, Coty is building momentum around a business transformation that’s in the early innings but has already seen success in e-commerce and direct-to-consumer gains, as well as a rising presence in China.”