Aristotle Atlantic Partners: “Estee Lauder (EL) Shares Were Weak During Q2”

Aristotle Atlantic Partners, an investment management firm, released its second quarter 2023 investor letter, a copy of which can be downloaded here. For the second quarter of 2023, Aristotle Atlantic’s Core Equity Composite posted a total return of 9.29 % gross of fees (9.18% net of fees), outperforming the S&P 500 Index, which recorded a total return of 8.74%. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.

In its Q2 2023 investor letter, Aristotle Atlantic Partners mentioned The Estee Lauder Companies Inc. (NYSE:EL) and explained its insights for the company. Founded in 1946, The Estee Lauder Companies Inc. (NYSE:EL) is a New York, New York-based cosmetics company with a $64.4 billion market capitalization. The Estee Lauder Companies Inc. (NYSE:EL) delivered a -27.27% return since the beginning of the year, while its 12-month returns are down by -33.93%. The stock closed at $180.44 per share on July 28, 2023.

Here is what Aristotle Atlantic Partners has to say about The Estee Lauder Companies Inc. (NYSE:EL) in its Q2 2023 investor letter:

“Estee Lauder shares were weak during the second quarter, following an inline earnings report where Estee again pushed out the timing of a recovery in their travel retail business due to sluggish travel trends in China and an inventory overhand in that end market. Estee reduced fiscal 2023 earnings guidance again and pushed the timing of the recovery toward the end of this calendar year. Outside of travel retail, growth was solid in the Americas, Europe, APAC, Emerging Markets and China.”

Our calculations show that The Estee Lauder Companies Inc. (NYSE:EL) was not able to secure a spot on our list of the 30 Most Popular Stocks Among Hedge Funds. The Estee Lauder Companies Inc. (NYSE:EL) was in 59 hedge fund portfolios at the end of the second  quarter of 2023, compared to 44 funds in the previous quarter. The Estee Lauder Companies Inc. (NYSE:EL) delivered a -26.86% return in the past 3 months.

We also discussed The Estee Lauder Companies Inc. (NYSE:EL) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q2 2023 page.

Suggested Articles:

• 12 Best Growth Stocks Under $25
• 15 Jobs That are Guaranteed to Get You More Sex
• 15 Best African Countries for Female Sex Tourism

Disclosure: None. This article is originally published at Insider Monkey.