5 Best Hair Care Stocks To Buy Now

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

Number of Hedge Fund Holders: 59

The Estée Lauder Companies Inc.(NYSE:EL) ranks 2nd on the list of 10 best hair care stocks to buy now. The New York-based personal care company manufactures and markets skin care, makeup, and hair care to over 150 countries. Estee Lauder Companies, Inc. (NYSE:EL) beauty brands include MAC, Clinique, and Bobbi Brown.

Earlier this year, The Estée Lauder Companies Inc. (NYSE:EL) announced that it had increased its stake in DECIEM Beauty Group to 76%, valued at approximately $1.0 billion. Shares of The Estée Lauder Companies Inc. (NYSE:EL) rose 11% in the last three months.

On July 22nd, Oppenheimer analyst Rupesh Parikh raised the price target of The Estée Lauder Companies Inc. (NYSE:EL) to $355 per share from $330 per share. According to the analyst, a partnership of EL and Target could drive at least 1,000 net stores in total.

The company has a market cap of $118.7 billion and offers a dividend yield of 0.64%. The company’s fiscal third-quarter EPS was $1.62 beating consensus estimates by $0.30. The Estée Lauder Companies Inc. (NYSE:EL) revenue in the fiscal third quarter of 2021 was $3.86 billion, a 16% growth year-over-year.

By the end of the first quarter of 2021, 59 hedge funds out of the 866 tracked by Insider Monkey held stakes in The Estée Lauder Companies Inc. (NYSE:EL), worth roughly $4.10 billion. 

Cooper Investors mentioned Estee Lauder Companies, Inc. (NYSE:EL) in its Q4 2020 investor letter:

“Estee Lauder was sold because the business is experiencing a very significant share price appreciation in a short period. We bought this great company earlier in 2020, however Value Latencies appear exhausted – to highlight this point Estee Lauder now trades on 45x Free Cash Flow.”