5 Best Hair Care Stocks To Buy Now

4. The Estée Lauder Companies Inc. (NYSE:EL)

Number of Hedge Fund Holders: 52

The Estée Lauder Companies Inc. (NYSE:EL) is a New York-based company that manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. On November 15, The Estée Lauder Companies Inc. (NYSE:EL) announced that it has agreed to acquire the Tom Ford enterprise in a $2.8 billion deal. It is one of the elite hair care stocks to invest in. 

JPMorgan analyst Andrea Teixeira on December 13 raised the firm’s price target on The Estée Lauder Companies Inc. (NYSE:EL) to $274 from $220 and kept an Overweight rating on the shares. The analyst expects a “bifurcated” year for staples in 2023 and thinks selective household, personal care, and beverage stocks “can continue to work next year.”

According to Insider Monkey’s third quarter database, The Estée Lauder Companies Inc. (NYSE:EL) was part of 52 hedge fund portfolios, compared to 46 in the prior quarter. Terry Smith’s Fundsmith LLP is the biggest position holder in the company, with approximately 6 million shares worth $1.28 billion. 

Here is what Harding Loevner Global Equity Fund has to say about The Estée Lauder Companies Inc. (NYSE:EL) in its Q3 2021 investor letter:

“We sold cosmetic producer Estée Lauder, which we bought last March. At the time, the market reflected a dire outlook for retail demand, especially tourist-related; however, we found its Chinese business attractive and admired its agility across social media and other digital channels. As the stock has appreciated, the resulting valuation now leaves no room for error, such as a potential shift of Chinese consumers’ tastes away from US brands.”